Cambodia Economy - 2024

Economic overview

one of the fastest growing economies; tourism and clothing exports; substantial manufacturing and construction sectors; COVID-19 declines and the suspension of EU market preferential access; massive reductions in poverty, but rural areas remain disproportionately poor

Real GDP (purchasing power parity)

$72.238 billion (2021 est.)
$70.116 billion (2020 est.)
$72.356 billion (2019 est.)

note: data are in 2017 dollars

Real GDP growth rate

3.03% (2021 est.)
-3.1% (2020 est.)
7.05% (2019 est.)

Real GDP per capita

$4,400 (2021 est.)
$4,300 (2020 est.)
$4,500 (2019 est.)

note: data are in 2017 dollars

GDP (official exchange rate)

$22.09 billion (2017 est.)

Inflation rate (consumer prices)

2.92% (2021 est.)
2.94% (2020 est.)
1.94% (2019 est.)

Credit ratings

Moody's rating: B2 (2007)

Standard & Poors rating: N/A (2014)

note: The year refers to the year in which the current credit rating was first obtained.

GDP - composition, by sector of origin

agriculture: 25.3% (2017 est.)

industry: 32.8% (2017 est.)

services: 41.9% (2017 est.)

GDP - composition, by end use

household consumption: 76% (2017 est.)

government consumption: 5.4% (2017 est.)

investment in fixed capital: 21.8% (2017 est.)

investment in inventories: 1.2% (2017 est.)

exports of goods and services: 68.6% (2017 est.)

imports of goods and services: -73% (2017 est.)

Agricultural products

cassava, rice, maize, vegetables, sugar cane, soybeans, rubber, oil palm fruit, bananas, pork

Industries

tourism, garments, construction, rice milling, fishing, wood and wood products, rubber, cement, gem mining, textiles

Industrial production growth rate

9.37% (2021 est.)

Labor force

9.345 million (2021 est.)

Unemployment rate

0.61% (2021 est.)
0.33% (2020 est.)
0.15% (2019 est.)

note: high underemployment, according to official statistics

Youth unemployment rate (ages 15-24)

total: 1.8% (2021 est.)

male: 1.6%

female: 2.1%

Population below poverty line

16.5% (2016 est.)

Gini Index coefficient - distribution of family income

37.9 (2008 est.)

Average household expenditures

on food: 42.3% of household expenditures (2018 est.)

on alcohol and tobacco: 2.2% of household expenditures (2018 est.)

Household income or consumption by percentage share

lowest 10%: 2%

highest 10%: 28% (2013 est.)

Remittances

4.28% of GDP (2021 est.)
4.92% of GDP (2020 est.)
5.63% of GDP (2019 est.)

Budget

revenues: $7.254 billion (2019 est.)

expenditures: $6.452 billion (2019 est.)

Budget surplus (+) or deficit (-)

-1.8% (of GDP) (2017 est.)

Public debt

30.4% of GDP (2017 est.)
29.1% of GDP (2016 est.)

Taxes and other revenues

17.89% (of GDP) (2020 est.)

Fiscal year

calendar year

Current account balance

-$12.321 billion (2021 est.)
-$2.197 billion (2020 est.)
-$4.065 billion (2019 est.)

Exports

$20.126 billion (2021 est.)
$20.29 billion (2020 est.)
$21.072 billion (2019 est.)

note: Data are in current year dollars and do not include illicit exports or re-exports.

Exports - partners

United States 35%, China 7%, Germany 7%, Vietnam 7%, Japan 6% (2021)

Exports - commodities

clothing and footwear, trunks and cases, rice, rubber, light fixtures (2021)

note: Cambodian methamphetamine production remains a significant illicit trade export

Imports

$32.83 billion (2021 est.) note: data are in current year dollars
$23.091 billion (2020 est.) note: data are in current year dollars
$25.516 billion (2019 est.) note: data are in current year dollars

Imports - partners

China 27%, Thailand 25%, Vietnam 15%, Singapore 8% (2019)

Imports - commodities

refined petroleum, clothing, gold, cars, flavored water (2019)

Reserves of foreign exchange and gold

$20.27 billion (31 December 2021 est.)
$21.328 billion (31 December 2020 est.)
$18.771 billion (31 December 2019 est.)

Debt - external

$11.87 billion (31 December 2017 est.)
$10.3 billion (31 December 2016 est.)

Exchange rates

riels (KHR) per US dollar -

Exchange rates:
4,098.723 (2021 est.)
4,092.783 (2020 est.)
4,061.149 (2019 est.)
4,051.167 (2018 est.)
4,050.58 (2017 est.)