Economy Overview
Since 2004, garments, construction, agriculture, and tourism have driven Cambodia's growth. GDP climbed more than 6% per year between 2010 and 2012. The garment industry currently employs more about 400,000 people and accounts for about 70% of Cambodia's total exports. In 2005, exploitable oil deposits were found beneath Cambodia's territorial waters, representing a potential revenue stream for the government, if commercial extraction becomes feasible. Mining also is attracting some investor interest and the government has touted opportunities for mining bauxite, gold, iron and gems. The tourism industry has continued to grow rapidly with foreign arrivals exceeding 2 million per year since 2007 and reaching over 3 million visitors in 2012. Cambodia, nevertheless, remains one of the poorest countries in Asia and long-term economic development remains a daunting challenge, inhibited by endemic corruption, limited educational opportunities, high income inequality, and poor job prospects. Approximately 4 million people live on less than $1.25 per day, and 37% of Cambodian children under the age of 5 suffer from chronic malnutrition. More than 50% of the population is less than 25 years old. The population lacks education and productive skills, particularly in the impoverished countryside, which also lacks basic infrastructure. The Cambodian Government is working with bilateral and multilateral donors, including the Asian Development Bank, the World Bank and IMF, to address the country's many pressing needs, more than 50% of the government budget comes from donor assistance. The major economic challenge for Cambodia over the next decade will be fashioning an economic environment in which the private sector can create enough jobs to handle Cambodia's demographic imbalance.
Agriculture Products
rice, rubber, corn, vegetables, cashews, cassava (manioc), silk
Industries
tourism, garments, construction, rice milling, fishing, wood and wood products, rubber, cement, gem mining, textiles
Industrial Production Growth Rate
9.2% (2012 est.)country comparison to the world: 20
Labor Force
7.9 million (2011 est.)country comparison to the world: 60
Unemployment Rate
0% (2011 est.)country comparison to the world: 1 0.3% (2010 est.)
Population Below Poverty Line
20% (2012 est.)
Household Income or Consumption by Percentage Share
Lowest 10%: 3%
Highest 10%: 37.3% (2007)
Distribution of Family Income Gini Index
37.9 (2008 est.)country comparison to the world: 73 41.9 (2004 est.)
Budget
Revenues: $2.41 billion
Expenditures: $2.817 billion (2012 est.)
Central Bank Discount Rate
NA% (31 December 2012)country comparison to the world: 66 5.25% (31 December 2007)
Commercial Bank Prime Lending Rate
Stock of Narrow Money
$995.1 million (31 December 2012 est.)country comparison to the world: 150 $965.8 million (31 December 2011 est.)
Stock of Broad Money
$5.695 billion (31 December 2012 est.)country comparison to the world: 125 $5.037 billion (31 December 2011 est.)
Stock of Domestic Credit
$4.801 billion (31 December 2012 est.)country comparison to the world: 114 $3.115 billion (31 December 2011 est.)
Market Value of Publicly Traded Shares
$NA
Reserves of Foreign Exchange and Gold
$4.938 billion (31 December 2012 est.)country comparison to the world: 93 $4.069 billion (31 December 2011 est.)
Debt External
$4.567 billion (31 December 2012 est.)country comparison to the world: 124 $4.336 billion (31 December 2011 est.)
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
riels (KHR) per US dollar -4,033 (2012 est.) 4,058.5 (2011 est.) 4,184.9 (2010 est.) 4,139 (2009) 4,070.94 (2008)
