Trends
- Cambodia’s real GDP growth was 7.3% in 2012. It will likely experience a 7% growth in 2013.
- The GDP growth was driven by strong growth in agriculture, exports, construction, and tourism.
- Garment exports have expanded by 18%, as of June 2013.
- Export strategies are helping the garment industry to grow. Cambodia is focusing on lower-end garment products for the United States market and higher-end products for the EU market.
- The tourism sector continues its high growth trajectory. 1.79 million tourists arrived in Cambodia, between January to May 2013.
- The monthly construction approval skyrocketed in June 2013, bringing the total construction investment approval during the first six months to $ 1.93 billion.
Recommendations
- Sustain economic growth by promoting diversification and enhancing competitiveness.
- Further investments in agriculture will result into higher, more sustainable agricultural growth. This will contribute to poverty reduction.
- Maintain banking and financial stability through effective supervision.