Cambodia Economic Forecast

Cambodia Economic Outlook

May 22, 2018

The economy has likely continued to expand at a robust pace so far this year, supported by strong tourism and agriculture, as well as buoyant regional economic activity. In the first two months of the year, tourists arrivals and textile exports grew robustly over a year ago. Coupled with recent tax reforms, this buoyant growth helped the government generate strong tax revenues in the first quarter of this year. Rice exports, however, dropped significantly in the first four months of the year, despite the government’s efforts to step up this category of exports.

Cambodia Economic Growth

This year, growth should be driven by robust garment exports and tourism. However, the possibility of political turmoil remains a downside risk, as the U.S. and the EU could impose sanctions due to the government’s crackdown on the opposition ahead of general elections in July. Robust wage growth could also drag on export competitiveness. Met the why particular Consensus Forecasts panelists expect the economy to expand 6.9% in 2018, which is unchanged from last month’s forecast, and 6.7% in 2019.

Cambodia Economy Data

Population (million)15.115.315.515.816.0
GDP per capita (USD)1,0241,0961,1611,269-  
GDP (USD bn)15.516.818.120.0-  
Economic Growth (GDP, annual variation in %)  
Fiscal Balance (% of GDP)-2.1-1.3-1.6-2.9-  
Public Debt (% of GDP)32.132.332.533.0-  
Inflation Rate (CPI, annual variation in %)  
Policy Interest Rate (%)1.341.421.421.44-  
Exchange Rate (vs USD)3,9704,0504,0203,990-  
Exchange Rate (vs USD, aop)4,0074,0114,0384,036-  
Current Account (% of GDP)-11.4-9.9-9.3-8.3-  
Current Account Balance (USD bn)-1.6-1.7-1.7-1.7-  
Trade Balance (USD billion)-3.6-2.6-3.5-3.4-  
Exports (USD billion)  
Imports (USD billion)12.813.512.012.7-  
Exports (annual variation in %)18.017.414.09.1-  
Imports (annual variation in %)12.85.512.16.0-  
International Reserves (USD)  
External Debt (% of GDP)  

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Cambodia Facts

Exchange Rate4,0110.05 %May 21
Exchange Rate4,0110.05 %May 21

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