Economy Overview
Cambodia has experienced strong economic growth over the last decade. Cambodian GDP grew at an average annual rate of over 8% between 2000 and 2010 and over 7% since 2011. The tourism, garment, construction and real estate, and agriculture sectors accounted for the bulk of growth. Around 600,000 people, the majority of whom are women, are employed in the garment and footwear sector. An additional 500,000 Cambodians are employed in the tourism sector, and a further 50,000 people in construction. 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. Some of the deposits are located within the so-called overlapping claimed areas with Thailand. However, an unresolved border dispute with Thailand has so far prevented development in those areas. 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 around 4.5 million visitors in 2014. 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. As of 2012, approximately 2.66 million people live on less than $1.20 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 has been 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 30% of the government budget comes from donor assistance. A 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. Following the 2013 national elections, the government announced a variety of economic and business reforms. The government is also moving forward with new legislation to meet the 2015 deadline for the Association of Southeast Asian Nations (ASEAN) Economic Community.
Agriculture Products
rice, rubber, corn, vegetables, cashews, cassava (manioc, tapioca), silk
Industries
tourism, garments, construction, rice milling, fishing, wood and wood products, rubber, cement, gem mining, textiles
Industrial Production Growth Rate
9.6% (2014 est.)
Labor Force
7.974 million (2013 est.)
Labor Force by Occupation
Agriculture: 48.7%
Industry: 19.9%
Services: 31.5% (2013 est.)
Unemployment Rate
0.2% (2012 est.)
Population Below Poverty Line
17.7% (2012 est.)
Household Income or Consumption by Percentage Share
Lowest 10%: 2%
Highest 10%: 28% (2013 est.)
Distribution of Family Income Gini Index
41.9 (2004 est.)
Budget
Revenues: $2.673 billion
Expenditures: $3.386 billion (2014 est.)
Public Debt
33.4% of GDP (2013 est.)
Central Bank Discount Rate
5.25% (31 December 2007)
Commercial Bank Prime Lending Rate
Stock of Narrow Money
$1.194 billion (31 December 2013 est.)
Stock of Broad Money
$8.236 billion (31 December 2013 est.)
Stock of Domestic Credit
$6.184 billion (31 December 2013 est.)
Market Value of Publicly Traded Shares
$NA
Reserves of Foreign Exchange and Gold
$4.995 billion (31 December 2013 est.)
Debt External
$5.124 billion (2013 est.)
Stock of Direct Foreign Investment at Home
$29.17 billion (2014 est.)
Stock of Direct Foreign Investment Abroad
Exchange Rates
4,184.9 (2010 est.)
