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It slightly decelerated to 6.9% in 2016 from the 7% experienced in the previous year. The country lacks experts who can run significant sectors of the economy.

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.

Overview Of The Economy Of Cambodia. The garment industry will face difficulty in the face of decreasing external demand in 2020. The percentage of its population below the poverty line is 18.6%.The country has highly developed textile and agricultural industries. GDP growth (annual %) - Cambodia. World Bank national accounts data, and OECD National Accounts data files. World Bank national accounts data, and OECD National Accounts data files. Label. Cambodia's Economic Growth to Slow in 2020, Rebound Expected in 2021 — ADB News Release | 3 April 2020 PHNOM PENH, CAMBODIA (3 April 2020) — After two decades of strong performance, Cambodia’s economic growth is expected to drop to 2.3% in 2020. Cambodia had a GDP of $24.57 billion in 2018. ADB is supporting Cambodia to become competitive and ensure inclusive development, for the long term, through stronger institutions that promote strategic investments, including in human capital, natural resources, infrastructure and technology.The current and projected economic growth in Cambodia, compared with other developing countries in Southeast Asia.The latest available economic data for Cambodia compared to countries in Southeast Asia.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.The Asian Development Outlook analyzes economic and development issues in developing countries in Asia.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 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 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.

Access the latest politics analysis and economic growth summary through 2011 for Cambodia from The Economist Intelligence Unit 10Y 25Y The US accounts for over 30%, the UK 10%, Germany 8%, and China is 7% of the total exports from the country. ADB encourages websites and blogs to link to its web pages.

It has attracted foreign direct investment especially due to the availability of cheap labor. Some of the main crops produced besides rice are corn and cassava.

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Cambodia Economic Growth Economic growth will slow substantially this year, as downbeat external demand and lower remittances pummel disposable income, thus weighing on private consumption. The textile industry plays a significant role accounting for over 80% of the exports and employing hundreds of thousands of citizens most of whom are females. The tourism, garment, construction and real estate, and agriculture sectors accounted for the bulk of growth. They are responsible for feeding the nation.The country exports timber products, textile, and agricultural products among others to the US, the UK, Germany, and China.

“Facing unprecedented challenges posed by COVID-19, the Government of Cambodia has taken the right steps to respond to the crisis, including providing wage support for garment workers and tax and credit relief for businesses. Cambodia’s growth performance is the result of hard-won macroeconomic stability. Cambodia is also taking …

The government has also created the fiscal space to minimize the economic impact of this crisis, especially on the most vulnerable people.”Cambodia’s services sector is expected to contract by 1.7% in 2020, as tourism drops and growth in real estate slows. Agriculture has remained a major contributor to the country’s economy mainly through rice which is the staple crop.

The total value of its imports was $8.8 billion in 2012.The country has a low level of education which has directly affected the quality of its human capital.

Industry growth is forecast to slow to 6.5%, with deceleration in garment production for exports and slower growth in construction.

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