Cambodia

Cambodia Economy

Cambodia's economy in numbers:

Nominal GDP of USD 29.6 billion in 2022.

GDP per capita of USD 1,851 compared to the global average of USD 10,589.

Average real GDP growth of 5.7% over the last decade.

Share of the region's population
Share of the region's GDP

Economic structure:

In 2021, services accounted for 40% of overall GDP, manufacturing 18%, other industrial activity 19%, and agriculture 23%. Looking at GDP by expenditure, private consumption accounted for 65% of GDP in 2021, government consumption 8%, fixed investment 27%, and net exports 0%.

GDP by economic sector
GDP by type of expenditure

International trade:

In 2020, manufactured products made up 76% of total merchandise exports, mineral fuels 0%, food 4%, ores and metals 1% and agricultural raw materials 2%, with other categories accounting for 17% of the total. In the same period, manufactured products made up 74% of total merchandise imports, mineral fuels 10%, food 8%, ores and metals 2% and agricultural raw materials 2%, with other goods accounting for 4% of the total. Total exports were worth USD 23 billion in 2022, while total imports were USD 32 billion.

Key exports
Key imports
Key export partners
Key import partners

Economic growth:

The economy recorded average annual growth of 5.7% in the decade to 2022. To read more about GDP growth in Cambodia, go to our dedicated page.

Fiscal policy:

Cambodia's fiscal deficit averaged 1.7% of GDP in the decade to 2022. Find out more on our dedicated page.

Unemployment:

The unemployment rate averaged 0.4% in the decade to 2022. For more information on Cambodia's unemployment click here.

Inflation:

Inflation averaged 3.0% in the decade to 2022. Go to our Cambodia inflation page for extra insight.

Exchange Rate:

From end-2012 to end-2022 the riel weakened by 2.8% vs the U.S. dollar. For more info on the riel, click here.
The economy probably experienced notable growth last year. Covid-19 restrictions were lifted, contributing to a 140% increase in international tourist arrivals, boosting gross tourism revenue by 115% to USD 3 billion. Moreover, inflation decreased compared to 2022, and foreign fixed investment grew by over a fifth. However, merchandise exports grew only modestly, affected by a drop in traditional exports like textiles. Turning to 2024, economic activity appears robust so far. Merchandise exports were up 12.6% in the first six months of the year; shipments of textiles surged, with China and Vietnam seeing the greatest growth. Moreover, international tourist arrivals expanded 22.1% annually in the first five months of the year, aided by a sharp rise in visitors from—again—China and Vietnam.
Projections out to 2033.

44 indicators covered including both annual and quarterly frequencies.

Consensus Forecasts based on a panel of 10 expert analysts.

Want to get insight on the economic outlook for Cambodia in the coming years? FocusEconomics collects projections out to 2033 on 44 economic indicators for Cambodia from a panel of 10 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Cambodia economy. To download a sample report on the Cambodia's economy, click here. To get in touch with our team for more information, fill in the form at the bottom of this page.

Cambodia Economic Data

2019 2020 2021 2022 2023
Population (million) 16.1 16.3 16.6 16.8 17.0
GDP (USD bn) 27.1 25.9 27.0 29.5 31.8
GDP per capita (USD) 1,685 1,584 1,625 1,752 1,868
GDP (KHR bn) 110,014 105,892 110,506 121,030 130,607
Economic Growth (Nominal GDP, ann. var. %) 10.5 -3.7 4.4 9.5 7.9
Economic Growth (GDP, ann. var. %) 7.1 -3.1 3.0 5.2 5.4
Private Consumption (ann. var. %) 6.1 -4.3 -2.0 3.6 -18.8
Government Consumption (ann. var. %) 6.8 13.0 38.0 -48.1 11.7
Fixed Investment (ann. var. %) 14.3 -2.7 4.5 0.0 -24.7
Exports (G&S, ann. var. %) 13.3 -11.3 6.4 21.0 6.9
Imports (G&S, ann. var. %) 11.1 -8.9 5.5 18.0 -12.4
Industrial Production (ann. var. %) 11.3 -1.4 9.4 8.9 4.3
Unemployment (% of active population, aop) 0.1 0.2 0.4 0.2 0.2
Fiscal Balance (% of GDP) 2.2 -2.5 -5.2 0.2 -2.2
Public Debt (% of GDP) 28.2 34.4 35.9 36.5 -
Inflation (CPI, ann. var. %, aop) 1.9 2.9 2.9 5.3 2.1
Deposit Rate (%, aop) 1.44 1.49 1.40 1.50 1.51
Exchange Rate (KHR per USD, eop) 4,060 4,032 4,069 4,115 4,086
Exchange Rate (KHR per USD, aop) 4,041 4,064 4,063 4,083 4,108
Current Account Balance (USD bn) -2.9 -0.9 -10.9 -7.6 0.6
Current Account Balance (% of GDP) -10.8 -3.4 -40.4 -25.7 1.7
Merchandise Trade Balance (USD bn) -7.3 -2.5 -11.3 -8.9 -3.0
Merchandise Exports (USD bn) 15.1 18.6 19.7 23.3 23.6
Merchandise Imports (USD bn) 22.4 21.1 31.0 32.1 26.6
Merchandise Exports (ann. var. %) 15.8 23.4 5.9 18.2 1.3
Merchandise Imports (ann. var. %) 18.5 -5.4 46.6 3.7 -17.3
Foreign Direct Investment (USD bn) 3.7 3.6 3.5 3.6 4.0
International Reserves (USD bn) 18.8 21.3 20.3 17.8 -
International Reserves (months of imports) 10.1 12.1 7.8 6.6 -
External Debt (USD bn) 15.4 17.6 20.1 22.5 -
External Debt (% of GDP) 56.7 68.0 74.4 76.2 -

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