About Cambodia & Key Financial Statistics

About Cambodia and Key Financial Statistics

Overview of Economy:

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. 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.

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.

Cambodia 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.

Gross Domestic Product (In USD):

$50.16 billion (2014 est.)

$46.88 billion (2013 est.)

$43.64 billion (2012 est.)

Composition of Gross Domestic Product:

% Agricuture: 29.8

% Industry: 27.3

% Services: 42.9

Composition of Labor Force by Occupation:

% Agriculture: 48.7

% Industry: 19.9

% Services: 31.5

Per Capita Income:

$3,300 (2014 est.)

$3,100 (2013 est.)

$2,800 (2012 est.)

Exports:

$7.407 billion (2014 est.)

$6.53 billion (2013 est.)

Key Export Commodities:

clothing, timber, rubber, rice, fish, tobacco, footwear

Export Partners:

US 24.1%, UK 8.7%, Germany 8.1%, Canada 7%, Japan 6.5%, Vietnam 5.3%, Thailand 5%, Netherlands 4.6%, China 4.1% (2014)

Imports:

$10.62 billion (2014 est.)

$9.489 billion (2013 est.)

Key Import Commodities:

petroleum products, cigarettes, gold, construction materials, machinery, motor vehicles, pharmaceutical products

Import Partners:

Thailand 28.1%, China 20.6%, Vietnam 16.8%, Singapore 7%, Hong Kong 5.7%, South Korea 4.1% (2014)

Inflation Rate (Consumer Price Index):

3.9% (2014 est.)

3% (2013 est.)

Exchange Rate to USD:

riels (KHR) per US dollar -

4,037.5 (2014 est.)

4,037.5 (2013 est.)

4,033 (2012 est.)

4,058.5 (2011 est.)

4,184.9 (2010 est.)

Unemployment Rate:

0.3% (2013 est.)

0.2% (2012 est.)

S&P Rating:

Standard & Poor's Ratings:

• • AAA: The best quality borrowers, reliable and stable

  • AA: Quality borrowers, a bit higher risk than AAA

  • A: Economic situation can affect finance

  • BBB: Medium class borrowers, which are satisfactory at the moment

  • BB: More prone to changes in the economy

  • B: Financial situation varies noticeably

  • CCC: An obligor rated currently vulnerable, and is dependent upon favorable business, financial, and economic conditions to meet its financial commitments.

Ref 2012-2014: CIA World Factbook, Wikipedia, PWC, EY, Standard & Poors ratings