Cambodia

Cambodia Economic Data & Projections

Cambodia's Macroeconomic Analysis:

Nominal GDP of USD 29.6 billion in 2022.

Nominal GDP of USD 31.8 billion in 2023.

GDP per capita of USD 1,868 compared to the global average of USD 10,589.

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.

Average real GDP growth of 5.5% over the last decade.

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

Sector Analysis

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

Main Economic Indicators

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.

Economic situation in Cambodia

After an increase of 5.4% in 2023 (2022: +5.2% yoy), annual GDP growth has likely picked up so far in 2024, and the data at hand supports this view. Tourist arrivals continue to perform well, expanding by more than 20% in January–September compared to the same period last year. Moreover, muted inflation in the first nine months of the year likely buttressed household spending. Looking at the external front, merchandise exports expanded at a faster rate in January–October compared to the previous year amid a rebound in demand from the U.S., which accounts for around 40% of total goods exports. On a less positive note, uncertainty regarding Chinese funding for the Funan Techo Canal—intended to reduce Cambodia's reliance on Vietnam for shipping—is expected to hinder construction work, which began in August.

Cambodia Economic Forecasts

Projections out to 2034.

43 indicators covered including both annual and quarterly frequencies.

Consensus Forecasts based on a panel of 9 expert analysts.

Want to get insight on the economic outlook for Cambodia in the coming years? FocusEconomics collects projections out to 2034 on 43 economic indicators for Cambodia from a panel of 9 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 Indicators

2019 2020 2021 2022 2023
Population (million) 16.1 16.3 16.6 16.8 17.0
GDP (USD bn) 36.7 34.8 36.8 40.0 42.3
GDP per capita (USD) 2,282 2,131 2,217 2,375 2,489
GDP (KHR bn) 148,985 142,503 150,793 164,059 174,027
Economic Growth (Nominal GDP, ann. var. %) 11.0 -4.4 5.8 8.8 6.1
Economic Growth (GDP, ann. var. %) 7.9 -3.6 3.1 5.1 5.0
Private Consumption (ann. var. %) 3.4 -1.9 -2.4 5.2 4.6
Government Consumption (ann. var. %) 8.8 9.2 12.3 -1.2 7.5
Fixed Investment (ann. var. %) 14.7 -1.8 4.7 5.4 -0.5
Exports (G&S, ann. var. %) 12.3 -12.2 6.1 21.3 -0.4
Imports (G&S, ann. var. %) 10.5 -8.3 1.9 18.6 -2.2
Industrial Production (ann. var. %) 13.0 -2.2 8.4 8.2 5.3
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 -0.3 -2.8
Public Debt (% of GDP) 20.8 25.2 25.9 25.0 25.7
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) -8.0 -2.5 -29.6 -19.0 1.3
Merchandise Trade Balance (USD bn) -7.3 -2.0 -11.3 -8.9 -3.0
Merchandise Exports (USD bn) 15.1 19.1 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 27.0 2.9 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 20.0
International Reserves (months of imports) 10.1 12.1 7.8 6.6 9.0
External Debt (USD bn) 15.4 17.6 20.1 22.5 22.5
External Debt (% of GDP) 41.9 50.5 54.5 56.2 53.2
Free Sample Report

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