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Economic Situation

1. Size of Economy

Real GDP growth is estimated at 7% in 2014. It is projecting for a stable growth of real GDP at 7% in 2015.[1] Nominal GDP at current value has been steadily grown with 61,414 billion Riels in 2013 (approximately US$15.35 billion) and 67,643 billion Riels in 2014 (approximately US$16.91 billion) and is projected to be 74,444 billion Riel in 2015 (approximately US$ 18.61 billion).

According to the Ministry of Economy and Finance, GDP per capita has also steadily increased from US$1,043 in 2013 to more than US$1,130 in 2014 and continue to increase in medium term in which per capita GDP is projecting to reach US$1,225 in 2015. Inflation is manageable between 3% to 3.5% from 2013 to 2015, while exchange rate is maintaining at 4,050 Riels per US$ 1 in 2015.

 

2. Industrial Structure

In 2015, the primary industry occupies 26.18% of the total economy, while the agriculture is contributing at 29% and service sector has reached 39.43%. Major agricultural products are rice, rubber, maize, cassava, etc. The secondary industry and tertiary industry respectively account for 22% and 38% of the total economy. The major industry of the manufacturing sector is apparel products, which are directed to exports. Among the tertiary industry, the tourism-related industries are important to the Cambodian economy.

 

3. Trade

The trade balance of Cambodia keeps a continuous deficit. Both exports and imports have been expanding as a result of economic growth. As of July 31st, 2015, the exporting value is about US$ 5.35 billion which seen as an increasing of more than 20.5% in comparison within the same period of 2014, while the importing value is reaching a  record of US$ 6.70 billion marking an increase of 17.2% comparing to 2014 within the same period.

The major destination countries of exports are USA, Hong Kong, China, EU, Canada, and Vietnam. The major importing countries are Hong Kong, China, Taiwan, Thailand, and Vietnam.

The primary export product is apparel, which accounted for more than 80% of the total exports. The major import products are textiles, petroleum product, and vehicles. Cambodia significantly depending on the imports for industrial input products and daily commodities.

 

4. Currency

Although the official national currency is the Riel, US dollars are commonly used in business and commercial transactions.

 


[1] Ministry of Economy and Finance: http://www.mef.gov.kh/documents/shares/budget/booklet-budget-in-brief-2015.pdf

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ministry-of-information Ministry of Information
ministry-of-public Ministry of Public Works and Transport
ministry-of-education Ministry of Education, Youth and Sport
ministry-of-tourism Ministry of Tourism
ministry-of-agriculture Ministry of Agriculture, Forestry and Fisheries
ministry-of-mines-energy Ministry of Mines and Energy
ministry-of-commerce Ministry of Commerce

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