Economic overview Cambodia, in 36 editions.

Cambodia is a desperately poor country whose economic development has been stymied by deadly political infighting. The economy is based on agriculture and related industries. Over the past decade Cambodia has been slowly recovering from its near destruction by war and political upheaval. It still remains, however, one of the world's poorest countries, with an estimated per capita GDP of about $130. The food situation is precarious; during the 1980s famine has been averted only through international relief. In 1986 the production level of rice, the staple food crop, was able to meet only 80% of domestic needs. The biggest success of the nation's recovery program has been in new rubber plantings and in fishing. Industry, other than rice processing, is almost nonexistent. Foreign trade is primarily with the USSR and Vietnam. Statistical data on the economy continues to be sparse and unreliable. Foreign aid from the USSR and Eastern Europe almost certainly is being slashed.

Cambodia is a desperately poor country whose economic development has been
stymied by deadly political infighting. The economy is based on agriculture
and related industries. Over the past decade Cambodia has been slowly
recovering from its near destruction by war and political upheaval. It still remains, however, one of the world's poorest countries, with an estimated per capita GDP of about $130. The food
situation is remains precarious; during the 1980s famine has been was averted only
through international relief. In 1986 the production level of rice, the
staple food crop, was able to meet only 80% of domestic needs. The biggest
success of the nation's recovery program has been in new rubber plantings
and in fishing. Industry, other than rice processing, is almost nonexistent.
Foreign trade is has been primarily with the former USSR and Vietnam. Vietnam, and both
trade and foreign aid are being adversely affected by the breakup of the
USSR. Statistical data on the economy continues continue to be sparse and unreliable.
Foreign aid from the former USSR and Eastern Europe almost certainly is being slashed. has virtually stopped.

The Cambodian economy - virtually destroyed by decades of
war - is
slowly recovering. Government leaders are moving toward restoring
restoring fiscal and monetary discipline and have established good working
working relations with international financial institutions. Growth,
starting from a low base, has been strong in 1991-94. Despite such
positive developments, the reconstruction effort faces many tough
challenges. challenges because of the persistence of internal political divisions
and the related lack of confidence of foreign investors. Rural
Cambodia, where 90% of almost ten about 9.5 million Khmer
live, remains mired in
poverty. The almost total lack of basic
infrastructure in the
countryside will hinder development and will
contribute to a growing
imbalance in growth between urban and rural
areas over the near term.
Moreover, the new government's lack of
experience in administering
economic and technical assistance
programs, programs and rampant corruption
among officials, officials will slow the growth
of critical public sector
investment. Inflation for 1993 1994 as a whole
was 60%, less than a quarter of
the 1992 rate, rate and was declining
during the year. The government hoped the rate would fall to 10% in
early 1994.

The Cambodian economy - virtually destroyed by
decades of
war - is slowly recovering. Government leaders are moving toward
toward restoring fiscal and monetary discipline and have established good
good working relations with international financial institutions. Growth,
Growth, starting from a low base, has been strong in 1991-94. 1991-95.
Despite such
positive developments, the reconstruction effort faces
many tough
challenges because of the persistence of internal
political divisions
and the related lack of confidence of foreign
investors. Rural
Cambodia, where 90% of about 9.5 million Khmer
live, remains mired in
poverty. The almost total lack of basic
infrastructure in the
countryside will hinder development and will
contribute to a growing
imbalance in growth between urban and rural
areas over the near term.
Moreover, the government's lack of
experience in administering
economic and technical assistance
programs and rampant corruption
among officials will slow the growth
of critical public sector
investment. Inflation for 1994 as a whole was less than a quarter The decline of inflation from
the 1992 rate and was declining during of more than 50% is one of the year. bright spots.

The Cambodian economy - virtually destroyed by
decades of war - is slowly recovering. Government leaders are moving
toward restoring fiscal and monetary discipline and have established
good working relations with international financial institutions.
Growth, starting from a low base, has been strong in 1991-95.
1991-96. Despite
such positive developments, the reconstruction effort faces
many tough
challenges because of the persistence of internal
political divisions
and the related lack of confidence of foreign
investors. Rural
Cambodia, where 90% of about 9.5 million Khmer
live, remains mired in
poverty. The almost total lack of basic
infrastructure in the
countryside will hinder development and will
contribute to a growing
imbalance in growth between urban and rural
areas over the near term.
Moreover, the government's lack of
experience in administering
economic and technical assistance
programs and rampant corruption
among officials will slow the growth
of critical public sector
investment. The decline of inflation from
the 1992 rate of more than
50% is one of the bright spots.

After four years of solid macroeconomic performance,
performance, Cambodia's economy slowed dramatically in 1997 1997-98 due to the twin shocks
of to the regional economic crisis and the July violence crisis, civil violence, and political
infighting. Economic growth fell from 6.5% in 1996 to 1.5% in 1997,
foreign Foreign investment slowed, fell off, and tourism has declined 16%
from 1996 levels.
Despite these difficulties, inflation accelerated only slightly to
9.5%; the government managed to keep the national budget Also, in balance
even with increased expenditures on the military and police; and 1998 the
economy ran a small balance of payments surplus. The future payments
could be adversely affected main harvest was hit by the currency crises in Thailand,
Malaysia, and Indonesia, which tends to make Cambodia's exports more
expensive at the same time imports from these countries become drought.
cheaper. The long-term development of the economy after decades of war
remains a daunting challenge. Human resource levels in the population
population are low, particularly in the poverty-ridden countryside.
The almost
total lack of basic infrastructure in the countryside
will continue to
hinder development. Recurring political instability hinders foreign
investment. Corruption and inexperience among Cambodia's corruption within government discourage foreign investment and
officials will serve as a further drag on the economy. delay foreign aid. Even so, growth may resume in 1999 at, say, 2%.

After four years of solid macroeconomic
performance, Cambodia's economy slowed dramatically in 1997-98 due
to the regional economic crisis, civil violence, and political
infighting. Foreign investment fell off, and tourism has declined
from 1996 levels. fell off. Also, in 1998 the main harvest was hit by drought.
But in 1999, the first full year of peace in 30 years, progress was made on economic reforms and growth resumed at 4%. The long-term development of the economy after decades of war
remains a daunting challenge. Human resource levels in the
The population are low, lacks education and productive skills, particularly in the poverty-ridden countryside.
The countryside, which suffers from an almost total lack of basic infrastructure in the countryside
will continue to hinder development. infrastructure. Recurring political instability
and corruption within government discourage foreign investment and
delay foreign aid. Even so, growth may resume in 1999 at, say, 2%. On the brighter side, the government is addressing these issues with assistance from bilateral and multilateral donors. So long as political stability lasts, the Cambodian economy is likely to grow at a respectable pace.

After four years of solid macroeconomic performance, Cambodia's economy slowed dramatically in 1997-98 due to the regional economic crisis, civil violence, and political infighting. Foreign investment and tourism fell off. Also, in 1998 the main harvest was hit by drought. But in In 1999, the first full year of peace in 30 years, progress was made on economic reforms and growth resumed at 4%. GDP growth for 2000 had been projected to reach 5.5%, but the worst flooding in 70 years severely damaged agricultural crops, and high oil prices hurt industrial production, and growth for the year is estimated at only 4%. Tourism is Cambodia's fastest growing industry, with arrivals up 34% in 2000. The long-term development of the economy after decades of war remains a daunting challenge. The population lacks education and productive skills, particularly in the poverty-ridden countryside, which suffers from an almost total lack of basic infrastructure. Recurring Fear of renewed political instability and corruption within the government discourage foreign investment and delay foreign aid. On the brighter side, the government is addressing these issues with assistance from bilateral and multilateral donors. So long as political stability lasts, the Cambodian economy is likely to grow at a respectable pace.

Cambodia's economy slowed dramatically in 1997-98 due to the regional economic crisis, civil violence, and political infighting. Foreign investment and tourism fell off. In 1999, the first full year of peace in 30 years, progress was made on economic reforms and growth resumed at 4%. 5%. GDP growth for 2000 had been projected to reach 5.5%, but the worst flooding in 70 years severely damaged agricultural crops, and high oil prices hurt industrial production, and growth for the year is estimated at only 4%. In 2001, severe floods damaged an estimated 15% of the area devoted to rice. Tourism now is Cambodia's fastest growing industry, with arrivals up 34% in 2000. 2000 and up another 40% in 2001 before the September 11 terrorist attacks in the US. The long-term development of the economy after decades of war remains a daunting challenge. The population lacks education and productive skills, particularly in the poverty-ridden countryside, which suffers from an almost total lack of basic infrastructure. Fear of renewed political instability and corruption within the government discourage foreign investment and delay foreign aid. On the brighter side, the government is addressing these issues with assistance from bilateral and multilateral donors.

Cambodia's economy slowed dramatically in 1997-98 1997-1998 due to the regional economic crisis, civil violence, and political infighting. Foreign investment and tourism fell off. In 1999, the first full year of peace in 30 years, progress was made on economic reforms and growth resumed at 5%. 5.0%. Despite severe flooding, GDP growth for 2000 had been projected to reach 5.5%, but the worst flooding in 70 years severely damaged agricultural crops, and high oil prices hurt industrial production, and growth for the year is estimated grew at only 4%. In 5.0% in 2000, 6.3% in 2001, severe floods damaged an estimated 15% of the area devoted to rice. and 5.2% in 2002. Tourism now is was Cambodia's fastest growing industry, with arrivals up 34% in 2000 and up another 40% in 2001 before the September 11 11, 2001 terrorist attacks in the US. The Even given these stout growth estimates, the long-term development of the economy after decades of war remains a daunting challenge. The population lacks education and productive skills, particularly in the poverty-ridden countryside, which suffers from an almost total lack of basic infrastructure. Fear of renewed political instability and corruption within the government discourage foreign investment and delay foreign aid. On the brighter side, the The government is addressing these issues with assistance from bilateral and multilateral donors.

Cambodia's economy slowed dramatically in 1997-1998 due to the regional economic crisis, civil violence, and political infighting. Foreign investment and tourism fell off. In 1999, the first full year of peace in 30 years, progress was made on economic reforms and growth reforms. Growth resumed at 5.0%. Despite severe flooding, GDP grew at 5.0% in 2000, 6.3% in 2001, and 5.2% in 2002. has remained about 5.0% during 2000-2003. Tourism was Cambodia's fastest growing industry, with arrivals up 34% in 2000 and up another 40% in 2001 before the 11 September 11, 2001 terrorist attacks in the US. Cambodia expects 1 million foreign tourists in 2004. Economic growth has been largely driven by expansion in the clothing sector and tourism. Clothing exports were fostered by the U.S.-Cambodian Bilateral Textile Agreement signed in 1999. Even given these stout growth estimates, Cambodia's recent growth, the long-term development of the economy after decades of war remains a daunting challenge. The population lacks education and productive skills, particularly in the poverty-ridden countryside, which suffers from an almost total lack of basic infrastructure. Fear of renewed political instability and corruption within the a dysfunctional legal system coupled with government corruption discourage foreign investment and delay foreign aid. investment. The Cambodian government is addressing these issues continues to work with assistance from bilateral and multilateral donors. donors to address the country's many pressing needs. The 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. About 60% of the population is 20 years or younger; most of these citizens will seek to enter the workforce over the course of the next 10 years.

Cambodia's economy slowed dramatically in 1997-1998 1997 and 1998 due to the regional economic crisis, civil violence, and political infighting. Foreign infighting, and foreign investment and tourism fell off. decreased. In 1999, the first full year of peace in 30 years, progress was the government made progress on economic reforms. Growth resumed and has remained about 5.0% during 2000-2003. Tourism was Cambodia's fastest growing industry, with arrivals up 34% in 5% from 2000 and up another 40% in 2001 before the 11 September 2001 terrorist attacks in the US. Cambodia expects 1 million foreign tourists in to 2004. Economic growth has been largely driven by expansion in the clothing garment sector and tourism. tourism, but is expected to fall in 2005 as growth in the garment sector stalls. Clothing exports were fostered by the U.S.-Cambodian a US-Cambodian Bilateral Textile Agreement signed in 1999. Even given Cambodia's recent growth, 1999 which gave Cambodia a guaranteed quota of US textile imports and established a bonus for improving working conditions and enforcing Cambodian labor laws and international labor standards in the industry. With the January 2005 expiration of a WTO Agreement on Textiles and Clothing, Cambodia-based textile producers are in direct competition with lower priced producing countries such as China and India. Faced with the possibility that over the next five years Cambodia may lose orders and some of the 250,000 well-paid jobs the industry provides, Cambodia has committed itself to a policy of continued support for high labor standards in an attempt to maintain favor with buyers. Tourism growth remains strong, with arrivals up 15% in 2004. The long-term development of the economy after decades of war remains a daunting challenge. The population lacks education and productive skills, particularly in the poverty-ridden countryside, which suffers from an almost total lack of basic infrastructure. Fully 75% of the population remains engaged in subsistence farming. Fear of renewed political instability and a dysfunctional legal system coupled with extensive government corruption discourage foreign investment. The Cambodian government continues to work with bilateral and multilateral donors to address the country's many pressing needs. In December 2004, official donors pledged $504 million in aid for 2005 on the condition that the Cambodian government begins taking steps to address rampant corruption. The next donor pledging session is scheduled for December 2005. The 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. About 60% More than 50% of the population is 20 years or younger; most of these citizens will seek to enter the workforce over the course of the next 10 years. younger.

Cambodia's economy slowed dramatically in 1997 and 1998 due to the regional economic crisis, civil violence, and political infighting, and foreign investment and tourism decreased. In 1999, the first full year of peace in 30 years, the government made progress on economic reforms. Growth resumed and remained about 5% from 2000 to 2004. Economic growth has been largely driven by expansion in the garment sector The US and tourism, but is expected to fall in 2005 as growth in the garment sector stalls. Clothing exports were fostered by Cambodia signed a US-Cambodian Bilateral Textile Agreement signed in 1999 Agreement, which gave Cambodia a guaranteed quota of US textile imports and established a bonus for improving working conditions and enforcing Cambodian labor laws and international labor standards in the industry. From 2001 to 2004, the economy grew at an average rate of 6.4%, driven largely by an expansion in the garment sector and tourism. With the January 2005 expiration of a WTO Agreement on Textiles and Clothing, Cambodia-based textile producers are in direct competition were forced to compete directly with lower priced lower-priced producing countries such as China and India. Although initial 2005 GDP growth estimates were less than 3%, better-than-expected garment sector performance led the IMF to forecast 6% growth in 2005. Faced with the possibility that over the next five years Cambodia may lose orders and some of the 250,000 well-paid jobs its vibrant garment industry, with more than 200,000 jobs, could be in serious danger, the industry provides, Cambodia Cambodian government has committed itself to a policy of continued support for high labor standards in an attempt to maintain favor with buyers. Tourism growth remains strong, The tourism industry continues to grow rapidly, with arrivals up 15% foreign visitors surpassing 1 million for the year by September 2005. In 2005, exploitable oil and natural gas deposits were found beneath Cambodia's territorial waters, representing a new revenue stream for the government once commercial extraction begins in 2004. the coming years. The long-term development of the economy after decades of war remains a daunting challenge. The population lacks education and productive skills, particularly in the poverty-ridden countryside, which suffers from an almost total lack of basic infrastructure. Fully 75% of the population remains engaged in subsistence farming. Fear of renewed political instability and a dysfunctional legal system coupled with extensive government corruption discourage foreign investment. The Cambodian government continues to work with bilateral and multilateral donors donors, including the World Bank and IMF, to address the country's many pressing needs. In December 2004, official donors pledged $504 million in aid for 2005 on the condition that the Cambodian government begins taking implement steps to address rampant reduce corruption. The next donor pledging session is scheduled for December 2005. The 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. More than 50% of the population is 20 years or younger. The population lacks education and productive skills, particularly in the poverty-ridden countryside, which suffers from an almost total lack of basic infrastructure. Fully 75% of the population remains engaged in subsistence farming.

In 1999, the first full year of peace in 30 years, the government made progress on economic reforms. The US and Cambodia signed a Bilateral Textile Agreement, which gave Cambodia a guaranteed quota of US textile imports and established a bonus for improving working conditions and enforcing Cambodian labor laws and international labor standards in the industry. From 2001 to 2004, the economy grew at an average rate of 6.4%, driven largely by an expansion in the garment sector and tourism. With the January 2005 expiration of a WTO Agreement on Textiles and Clothing, Cambodia-based textile producers were forced to compete directly with lower-priced producing countries such as China and India. Although initial 2005 GDP growth estimates were less than 3%, better-than-expected Better-than-expected garment sector performance led the IMF to forecast 6% more than 13% growth in 2005. 2006. Faced with the possibility that its vibrant garment industry, with more than 200,000 jobs, could be in serious danger, the Cambodian government has committed itself to a policy of continued support for high labor standards in an attempt to maintain favor with buyers. The tourism industry continues to grow rapidly, with foreign visitors surpassing 1 million for the per year by September beginning in 2005. In 2005, exploitable oil and natural gas deposits were found beneath Cambodia's territorial waters, representing a new revenue stream for the government once commercial extraction begins in the coming years. Mining also is attracting significant investor interest, particularly in the northeastern parts of the country. The long-term development of the economy remains a daunting challenge. The Cambodian government continues to work is working with bilateral and multilateral donors, including the World Bank and IMF, to address the country's many pressing needs. In December 2004, official donors pledged $504 million in aid for 2005 on the condition that the Cambodian government implement steps to reduce corruption. The 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. More than 50% of the population is 20 less than 21 years or younger. old. The population lacks education and productive skills, particularly in the poverty-ridden countryside, which suffers from an almost total lack of basic infrastructure. Fully 75% of the population remains engaged in subsistence farming.

In 1999, From 2001 to 2004, the first full year economy grew at an average rate of peace 6.4%, driven largely by an expansion in 30 years, the government made progress on economic reforms. garment sector and tourism. The US and Cambodia signed a Bilateral Textile Agreement, which gave Cambodia a guaranteed quota of US textile imports and established a bonus for improving working conditions and enforcing Cambodian labor laws and international labor standards in the industry. From 2001 to 2004, the economy grew at an average rate of 6.4%, driven largely by an expansion in the garment sector and tourism. With the January 2005 expiration of a WTO Agreement on Textiles and Clothing, Cambodia-based textile producers were forced to compete directly with lower-priced producing countries such as China and India. Better-than-expected garment sector performance led to more than 13% 9% growth in 2006. Faced with the possibility that its 2007. Its vibrant garment industry, with industry employs more than 200,000 jobs, could be in serious danger, the 350,000 people and contributes more than 70% of Cambodia's exports. The Cambodian government has committed itself to a policy of continued support for supporting high labor standards in an attempt to maintain favor with buyers. The tourism industry continues to grow rapidly, with foreign visitors surpassing 1 million per year beginning in 2005. buyer interest. In 2005, exploitable oil and natural gas deposits were found beneath Cambodia's territorial waters, representing a new revenue stream for the government once if commercial extraction begins in the coming years. begins. Mining also is attracting significant investor interest, particularly in the northeastern parts of the country. country, and the government has said opportunities exist for mining bauxite, gold, iron and gems. In 2006, a US-Cambodia bilateral Trade and Investment Framework Agreement (TIFA) was signed and the first round of discussions took place in early 2007. The tourism industry continues to grow rapidly, with foreign arrivals reaching 2 million in 2007. In 2007 the government signed a joint venture agreement with two companies to form a new national airline. The long-term development of the economy remains a daunting challenge. The Cambodian government is working with bilateral and multilateral donors, including the World Bank and IMF, to address the country's many pressing needs. The 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. More than 50% of the population is less than 21 years old. The population lacks education and productive skills, particularly in the poverty-ridden countryside, which suffers from an almost total lack of basic infrastructure.

From 2001 2004 to 2004, 2007, the economy grew at an average rate of 6.4%, about 10% per year, driven largely by an expansion in the garment sector sector, construction, agriculture, and tourism. The US and Cambodia signed a Bilateral Textile Agreement, which gave Cambodia Growth dropped to below 7% in 2008 as a guaranteed quota result of US textile imports and established a bonus for improving working conditions and enforcing Cambodian labor laws and international labor standards in the industry. global economic slowdown. With the January 2005 expiration of a WTO Agreement on Textiles and Clothing, Cambodia-based Cambodian textile producers were forced to compete directly with lower-priced producing countries such as China China, India, Vietnam, and India. Better-than-expected garment sector performance led to more than 9% growth in 2007. Its vibrant Bangladesh. The garment industry currently employs more than 350,000 320,000 people and contributes more than 70% 85% of Cambodia's exports. The Cambodian government has committed itself to a policy supporting high labor standards in an attempt to maintain buyer interest. In 2005, exploitable oil and natural gas deposits were found beneath Cambodia's territorial waters, representing a new revenue stream for the government if commercial extraction begins. Mining also is attracting significant investor interest, particularly in the northeastern northern parts of the country, and the country. The government has said opportunities exist for mining bauxite, gold, iron and gems. In 2006, a US-Cambodia bilateral Trade and Investment Framework Agreement (TIFA) was signed signed, and the first round several rounds of discussions took place in early have been held since 2007. The tourism industry continues has continued to grow rapidly, with foreign arrivals reaching exceeding 2 million per year in 2007. In 2007 the government signed a joint venture agreement with two companies 2007-08, however, economic troubles abroad will dampen growth in 2009. Rubber exports declined more than 15% in 2008 due to form falling world market prices. The global financial crisis is weakening demand for Cambodian exports, and construction is declining due to a new national airline. shortage of credit. The long-term development of the economy remains a daunting challenge. The Cambodian government is working with bilateral and multilateral donors, including the World Bank and IMF, to address the country's many pressing needs. The 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. More than 50% of the population is less than 21 years old. The population lacks education and productive skills, particularly in the poverty-ridden countryside, which suffers from an almost total lack of basic infrastructure.

From 2004 to 2007, the economy grew about 10% per year, driven largely by an expansion in the garment sector, construction, agriculture, and tourism. Growth dropped to below 7% GDP contracted 1.5% in 2008 2009 as a result of the global economic slowdown. slowdown, but climbed more than 4% in 1010, driven by renewed exports. With the January 2005 expiration of a WTO Agreement on Textiles and Clothing, Cambodian textile producers were forced to compete directly with lower-priced countries such as China, India, Vietnam, and Bangladesh. The garment industry currently employs more than 320,000 280,000 people - about 5% of the work force - and contributes more than 85% 70% of Cambodia's exports. In 2005, exploitable oil deposits were found beneath Cambodia's territorial waters, representing a new revenue stream for the government if commercial extraction begins. Mining also is attracting significant investor interest, particularly in the northern parts of the country. The government has said opportunities exist for mining bauxite, gold, iron and gems. In 2006, a US-Cambodia bilateral Trade and Investment Framework Agreement (TIFA) was signed, and several rounds of discussions have been held since 2007. Rubber exports increased about 25% in 2009 due to rising global demand. The tourism industry has continued to grow rapidly, with foreign arrivals exceeding 2 million per year in 2007-08, however, economic troubles abroad will dampen dampened growth in 2009. Rubber exports declined more than 15% in 2008 due to falling world market prices. The global financial crisis is weakening demand for Cambodian exports, and construction is declining due to a shortage of credit. The long-term development of the economy remains a daunting challenge. The Cambodian government is working with bilateral and multilateral donors, including the World Bank and IMF, to address the country's many pressing needs. The 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. More than 50% of the population is less than 21 25 years old. The population lacks education and productive skills, particularly in the poverty-ridden countryside, which suffers from an almost total lack of basic infrastructure.

From 2004 to 2007, the economy grew about 10% per year, driven largely by an expansion in the garment sector, construction, agriculture, and tourism. GDP contracted 1.5% slightly in 2009 as a result of the global economic slowdown, but climbed more than 4% in 1010, driven by renewed exports. With the January 2005 expiration of a WTO Agreement on Textiles and Clothing, Cambodian textile producers were forced to compete directly with lower-priced countries such as China, India, Vietnam, and Bangladesh. The garment industry currently employs more than 280,000 people - about 5% of the work force - and contributes more than 70% of Cambodia's exports. In 2005, exploitable oil deposits were found beneath Cambodia's territorial waters, representing a new revenue stream for the government if commercial extraction begins. Mining also is attracting significant investor interest, particularly in the northern parts of the country. The government has said opportunities exist for mining bauxite, gold, iron and gems. In 2006, a US-Cambodia bilateral Trade and Investment Framework Agreement (TIFA) was signed, and several rounds of discussions have been held since 2007. Rubber exports increased about 25% in 2009 due to rising global demand. The tourism industry has continued to grow rapidly, with foreign arrivals exceeding 2 million per year in 2007-08, 2007-08; however, economic troubles abroad dampened growth in 2009. The global financial crisis is weakening demand for Cambodian exports, and construction is declining due to a shortage of credit. The long-term development of the economy remains a daunting challenge. The Cambodian government is working with bilateral and multilateral donors, including the World Bank and IMF, to address the country's many pressing needs. The 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. More than 50% of the population is less than 25 years old. The population lacks education and productive skills, particularly in the poverty-ridden countryside, which suffers from an almost total lack of basic infrastructure.

From 2004 to 2007, the economy grew about 10% per year, driven largely by an expansion in the garment sector, Since 2004, garments, construction, agriculture, and tourism. tourism have driven Cambodia's growth. GDP contracted slightly in 2009 as a result of the global economic slowdown, but climbed more than 4% in 1010, driven by renewed exports. With the January 2005 expiration of a WTO Agreement on Textiles and Clothing, Cambodian textile producers were forced to compete directly with lower-priced countries such as China, India, Vietnam, 6% per year between 2010 and Bangladesh. 2012. The garment industry currently employs more than 280,000 335,000 people - about 5% of the work force - and contributes accounts for more than 70% 75% of Cambodia's total exports. In 2005, exploitable oil deposits were found beneath Cambodia's territorial waters, representing a new potential revenue stream for the government government, if commercial extraction begins. becomes feasible. Mining also is attracting significant some investor interest, particularly in the northern parts of interest and the country. The government has said touted opportunities exist for mining bauxite, gold, iron and gems. In 2006, a US-Cambodia bilateral Trade and Investment Framework Agreement (TIFA) was signed, and several rounds of discussions have been held since 2007. Rubber exports increased about 25% in 2009 due to rising global demand. The tourism industry has continued to grow rapidly, rapidly with foreign arrivals exceeding 2 million per year in 2007-08; however, economic troubles abroad dampened growth since 2007. Cambodia, nevertheless, remains one of the poorest countries in 2009. The global financial crisis is weakening demand for Cambodian exports, Asia and construction is declining due to a shortage of credit. The long-term economic development of the economy remains a daunting challenge. challenge, inhibited by endemic corruption, limited educational opportunities, high income inequality, and poor job prospects. Approximately 4 million people live on less than $1.25 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 is working with bilateral and multilateral donors, including the World Bank and IMF, to address the country's many pressing needs. needs; more than 50% of the government budget comes from donor assistance. The 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. More than 50% of the population is less than 25 years old. The population lacks education and productive skills, particularly in the poverty-ridden countryside, which suffers from an almost total lack of basic infrastructure.

Since 2004, garments, construction, agriculture, and tourism have driven Cambodia's growth. GDP climbed more than 6% per year between 2010 and 2012. The garment industry currently employs more than 335,000 about 400,000 people and accounts for more than 75% about 70% of Cambodia's total exports. 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. 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. 2007 and reaching over 3 million visitors in 2012. 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. Approximately 4 million people live on less than $1.25 per day 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 Government is 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 50% of the government budget comes from donor assistance. The 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.

Since 2004, garments, construction, agriculture, and tourism have driven Cambodia's growth. GDP climbed more than 6% 7% per year between 2010 and 2012. 2013. The garment industry currently employs more about 400,000 people and accounts for about 70% of Cambodia's total exports. 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. 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 over 3 million visitors in 2012. 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. Approximately 4 million people live on less than $1.25 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 is 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 50% of the government budget comes from donor assistance. The 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.

Since 2004, garments, construction, agriculture, and tourism have driven Cambodia's growth. Cambodia has experienced strong economic growth over the last decade. Cambodian GDP climbed more than 7% per year grew at an average annual rate of over 8% between 2000 and 2010 and 2013. over 7% since 2011. The garment industry currently employs more about 400,000 people tourism, garment, construction and accounts real estate, and agriculture sectors accounted for about 70% the bulk of Cambodia's total exports. 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 over 3 around 4.5 million visitors in 2012. 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. Approximately 4 As of 2012, approximately 2.66 million people live on less than $1.25 $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 is 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 50% 30% of the government budget comes from donor assistance. The 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.

Cambodia has experienced strong economic growth over the last decade. Cambodian decade; GDP grew at an average annual rate of over 8% between 2000 and 2010 and over at least 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 Tourism 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, 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, human resources, 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.

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 at least about 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. Tourism has continued to grow rapidly with foreign arrivals exceeding 2 million per year since 2007 and reaching around 4.5 million visitors in 2014. 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 human resources, 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 World Bank in 2016 formally reclassified Cambodia as a lower middle-income country as a result of continued rapid economic growth over the past several years. Cambodia’s graduation from a low-income country will reduce its eligibility for foreign assistance and will challenge the government to seek new sources of financing. 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.

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. The tourism, garment, construction and real estate, and agriculture sectors accounted for the bulk of growth. Around 600,000 700,000 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 50,000 200,000 people in construction. Tourism has continued to grow rapidly with foreign arrivals exceeding 2 million per year since in 2007 and reaching around 4.5 5.6 million visitors in 2014. 2017. Mining also is attracting some investor interest and the government has touted opportunities for mining bauxite, gold, iron and gems.
Still, Cambodia remains one of the poorest countries in Asia and long-term economic development remains a daunting challenge, inhibited by endemic corruption, limited human resources, 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 According to the age Asian Development Bank (ADB), the percentage of 5 suffer from chronic malnutrition. the population living in poverty decreased to 13.5% in 2016. 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 World Bank in 2016 formally reclassified Cambodia as a lower middle-income country as a result of continued rapid economic growth over the past several years. Cambodia’s graduation from a low-income country will reduce its eligibility for foreign assistance and will challenge the government to seek new sources of financing. 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% 20% of the government budget comes will come from donor assistance. assistance in 2018. 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. Textile exports, which accounted for 68% of total exports in 2017, have driven much of Cambodia’s growth over the past several years. The textile sector relies on exports to the United States and European Union, and Cambodia’s dependence on its comparative advantage in textile production is a key vulnerability for the economy, especially because Cambodia has continued to run a current account deficit above 9% of GDP since 2014.

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. The tourism, garment, construction and real estate, and agriculture sectors accounted for the bulk of growth. Around 700,000 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 200,000 people in construction. Tourism has continued to grow rapidly with foreign arrivals exceeding 2 million per year in 2007 and reaching 5.6 million visitors in 2017. Mining also is attracting some investor interest and the government has touted opportunities for mining bauxite, gold, iron and gems. Still, Cambodia remains one of the poorest countries in Asia Asia, and long-term economic development remains a daunting challenge, inhibited by corruption, limited human resources, high income inequality, and poor job prospects. According to the Asian Development Bank (ADB), the percentage of the population living in poverty decreased to 13.5% in 2016. 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 World Bank in 2016 formally reclassified Cambodia as a lower middle-income country as a result of continued rapid economic growth over the past several years. Cambodia’s graduation from a low-income country will reduce its eligibility for foreign assistance and will challenge the government to seek new sources of financing. 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 20% of the government budget will come from donor assistance in 2018. 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. Textile exports, which accounted for 68% of total exports in 2017, have driven much of Cambodia’s growth over the past several years. The textile sector relies on exports to the United States and European Union, and Cambodia’s dependence on its comparative advantage in textile production is a key vulnerability for the economy, especially because Cambodia has continued to run a current account deficit above 9% of GDP since 2014.

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. The tourism, garment, construction and real estate, and agriculture sectors accounted for the bulk of growth. Around 700,000 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 200,000 people in construction. Tourism has continued to grow rapidly with foreign arrivals exceeding 2 million per year in 2007 and reaching 5.6 million visitors in 2017. Mining also is attracting some investor interest and the government has touted opportunities for mining bauxite, gold, iron and gems.
Still, Cambodia remains one of the poorest countries in Asia, and long-term economic development remains a daunting challenge, inhibited by corruption, limited human resources, high income inequality, and poor job prospects. According to the Asian Development Bank (ADB), the percentage of the population living in poverty decreased to 13.5% in 2016. 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 World Bank in 2016 formally reclassified Cambodia as a lower middle-income country as a result of continued rapid economic growth over the past several years. Cambodia’s graduation from a low-income country will reduce its eligibility for foreign assistance and will challenge the government to seek new sources of financing. 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 20% of the government budget will come from donor assistance in 2018. 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.
Textile exports, which accounted for 68% of total exports in 2017, have driven much of Cambodia’s growth over the past several years. The textile sector relies on exports to the United States and European Union, and Cambodia’s dependence on its comparative advantage in textile production is a key vulnerability for the economy, especially because Cambodia has continued to run a current account deficit above 9% of GDP since 2014.