Policy actions must aim to support the most affected in tourism, hospitality, and manufacturing export, and the poor. Meanwhile, the government does also have some remaining savings due to strong revenue collection in the years before the pandemic,” says Page-Jarrett of the EIU. The Asian Development Outlook analyzes economic and development issues in developing countries in Asia. Gross domestic product (GDP), total (2017 PPP $ billions) n.a. Updated yearly, the Fact Sheets summarize ADB's partnerships with member economies, providing key facts and figures and an overview of activities and future directions. Prior to that, he worked as a training officer for the Ministry of Environment. The latest available economic data for Cambodia compared to countries in Southeast Asia. … The new US administration has embraced the Indo-Pacific strategy but will pursue it with different tactics. Labour share of GDP, comprising wages and social protection transfers (%) n.a. The Economist Intelligence Unit expects Cambodia's economic growth to accelerate to 4.6% in 2021, compared with a contraction of 1.7% in 2020, helped by some recovery in infrastructure and manufacturing investment. Cambodia gdp per capita for 2019 was $1,643, a 8.66% increase from 2018. Though Cambodia contribution of travel and tourism to GDP (% of GDP) fluctuated substantially in recent years, it tended to increase through 2001 - 2020 period ending at 32.7 % in 2020. Only these four countries have a gdp growth rate above 3%. Joint action by the bloc that would force the junta down a preferred route is highly unlikely. Twenty-six economies will experience a positive growth rate in 2020. Sporadic protests will take place in 2021, sparked by high unemployment levels. Download Historical Data Save as Image. Cambodia’s Gross Domestic Product (GDP) growth is projected to slow down to -1.5% as the decline in tourist arrivals and the impact on the garment industry resulting from the outbreak of the COVID-19 pandemic in the country. The economy of Cambodia currently follows an open market system (market economy) and has seen rapid economic progress in the last decade. If the prediction comes true, the Cambodian economy will grow negatively for the first time since IMF began assessing the economy in 1988. Yearly Change + 1.41% Global Share. Cambodia gdp for 2016 was $20.02B, a 10.9% increase from 2015. About ADB, how we’re organized, transparency, Projects, publications, products and services, operational priorities, and development knowledge, Countries with operations and subregional programs, country planning documents, Careers, business opportunities, and investor relations, Climate Change and Disaster Risk Management, Brunei, Indonesia, Malaysia, Philippines East ASEAN Growth Area (BIMP-EAGA), Central Asia Regional Economic Cooperation (CAREC) Program, Indonesia, Malaysia, Thailand Growth Triangle (IMT-GT), South Asia Subregional Economic Cooperation (SASEC), Civil Society/Non-government Organizations, Asian Development Bank and Cambodia: Fact Sheet. “With a relatively low ratio of debt to GDP – we estimate total debt was equivalent to 55.1% of GDP in 2020 – Cambodia has room to take on additional borrowing. Cambodia among first countries to receive COVAX vaccines, Mixed commitment from ASEAN members on Myanmar, Courts sentence Sam Rainsy for alleged coup. VNA - May 27, 2020. Cambodia GDP per capita, 2017 (PPP, current international dollar) Source: Trademap. The tourism, garment, construction and real estate, and agriculture sectors accounted for the bulk of growth. (212) 419-8286 The loss of EU trade benefits and weak consumer sentiment will constrain the recovery, however. The UK is expected to fall to the seventh-largest economy by 2023 with a GDP of $3.27 trillion. We do not expect tourism activity to return to pre-pandemic levels until 2024. Population of Cambodia (2020) View live population, charts & trends: Population of Cambodia. A June 2020 survey found that 18 percent of the 537 firm respondents had either temporarily or permanently closed be-cause of Covid-19. In 2020, GDP for Cambodia was 26.32 billion US dollars. He previously worked at the General Department of Policy of the Cambodia’s Ministry of Economy and Finance as a Junior Economist working on Cambodia’s trade policy. By. Cambodia's public deficit widened in 2019 but remains relatively low, at 29.6% of GDP, although it is mostly held by foreigners (especially China) and denominated in foreign currencies. Gross fixed capital formation (% of GDP) n.a. Cambodia: Gross domestic product (GDP) in current prices from 1995 to 2025 (in billion U.S. dollars) [Graph]. Cambodia GDP (Gross Domestic Product) was INT$67.03billion for 2019 in PPP terms. The loss of EU trade benefits and weak consumer sentiment will constrain the recovery, however. In the long-term, the Cambodia GDP is projected to trend around 29.80 USD Billion in 2021 and 31.70 USD Billion in 2022, according to our econometric models. Following a likely severe hit in H1 due to the impact of the pandemic and associated restrictions, available data suggests that economic activity remains subdued in H2. Income index: n.a. Cambodia Economic Update Dec 2020; Cambodian Economy Hit Hard by Pandemic But Projected to Recover in 2021 Cambodia's economy is hit hard by the COVID-19 pandemic but is projected to recover in 2021. Fertility in Cambodia. Its overall score has decreased by 0.5 point because of a drop in the score for investment freedom. Inequality-adjusted HDI (IHDI) n.a. It assists its members and partners by providing loans, technical assistance, grants, and equity investments to promote social and economic development. Cambodia had a GDP of $24.57 billion in 2018. Over the last 20 years, GDP of Cambodia grew substantially from 3.99 to 26.32 billion US dollars rising at an increasing annual rate that reached a maximum of 19.84% in 2008 and then decreased to -1.54% in 2020. November 17, 2020. Around 700,000 people, the majority of whom are women, are employed in the garment and footwear sector. Cambodia gdp for 2017 was $22.18B, a 10.79% increase from 2016. The Asian Development Bank (ADB) is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Cambodia has experienced strong economic growth over the last decade; GDP grew at an average annual rate of over 8% between 2000 and 2010 and about 7% since 2011. Mr. Lyza Srey joined the Resident Representative Office in Cambodia in January 2020. ADB encourages websites and blogs to link to its web pages. Composition of exports, 2017 (percentage share of total exports) Composition of imports, 2017 (percentage share of total imports) Textiles 67% Vegetable products 4% Machinery/ electrical 3% Transportation 3% Plastics/rubber 1% Others 22% Textiles 25% Machinery/ electrical 13% Mineral … Cambodia’s GDP to fall 0.3 percent in 2020: Moody’s. This has resulted in adverse impacts on welfare, especially the CAMBODIA FIGURE 1 Cambodia / Real GDP growth and contributions to real GDP growth FIGURE 2 Cambodia / Cambodia garment, footwear and 16,718,965. see live. GDP Growth Rate in 2017 was 7.10%, representing a change of 1,206,627,422 US$ over 2016, when Real GDP was $16,995,073,301. The Economist Intelligence Unit expects Cambodia's economic growth to accelerate to 4.6% in 2021, compared with a contraction of 1.7% in 2020, helped by some recovery in infrastructure and manufacturing investment. Cambodia Economic Outlook. With a projected gdp growth rate of 26.21% in 2020, Guyana is the fastest growing economy in the world. Aug 13th 2020 B ANGLADESH MAY be the homeland of microcredit, but no country is keener on it than Cambodia. Deepening trade reliance on China will exacerbate regional frictions, particularly as China weighs joining CPTPP. Coefficient of human inequality: n.a. This site uses cookies to optimize functionality and give you the best possible experience. This statistic shows the share of economic sectors in the gross domestic product (GDP) in Cambodia from 2009 to 2019. The decision is likely to forestall Cambodia’s chances of winning back its trade benefits from the EU. GDP in Cambodia is expected to reach 27.00 USD Billion by the end of 2020, according to Trading Economics global macro models and analysts expectations. Cambodia’s GDP growth is projected to drop 0.3 percent due to the impact of the COVID-19 pandemic and economic slowdowns in China, the EU and the US, Moody’s Investors Service has said. The International Monetary Fund (IMF) has forecasted that Cambodia’s Gross Domestic Product (GDP) will experience a negative growth of 1.7 percent in 2020 due to social distancing measures to contain the COVID-19 pandemic. In Statista. The Basic Statistics brochure presents data on selected social, economic, and SDG indicators such as population, poverty, annual growth rate of gross domestic product, inflation, and government finance for economies in Asia and the Pacific. … The Economist Intelligence Unit expects Cambodia's economic growth to accelerate to 4.6% in 2021, compared with a contraction of 1.7% in 2020, helped by some recovery in infrastructure and manufacturing investment. 70. COVID-19 is hitting most of Cambodia’s main growth drivers of growth hard. GDP per Capita in Cambodia (with a population of 16,009,409 people) was $1,137 in 2017, an increase of $59 from $1,078 in 2016; this represents a change of 5.5% in GDP … IMF. According to its central bank, there were some 160,000 branches of … Cambodia gdp for 2019 was $27.09B, a 10.25% increase from 2018. Similarly, the economy is highly dollarized, exposing an already fragile banking sector to substantial currency risks. In the long-term, the Cambodia GDP Annual Growth Rate is projected to trend around 6.00 percent in 2021 and 6.50 percent in 2022, according to our econometric models. Guyana is followed by South Sudan (4.11%), Bangladesh (3.80%), and Egypt (3.55%). The COVID-19 pandemic in Cambodia is part of the ongoing worldwide pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2).The first imported case in Cambodia was detected in Sihanoukville on 27 January 2020. (October 12, 2020). GDP per capita (2017 PPP $) n.a. In 2020, contribution of travel and tourism to GDP (% of GDP) for Cambodia was 32.7 %. The loss of EU trade benefits and weak consumer sentiment will constrain the recovery, however. The Key Indicators for Asia and the Pacific publication presents data regarding the economic, financial, social, and environmental situations in a broad range of countries across the region. The coronavirus (Covid-19) vaccine rollout will help to lift some Asian trade shipments this year.
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