16,718,971 (2020 estimate) GDP USD 25.291 billion: GDP Growth Rate Projections: 1.9% annually in 2021, usually around 7% pre-pandemic: Inequality (Gini Coefficient) With falling poverty rates and high economic growth, Cambodia reached lower middle-income status in 2015 and aspires to attain upper middle-income status by 2030. According to various forecasts, Cambodias gross domestic product (GDP) growth rate is expected to ebb slightly to less than 7 percent growth in 2020 mainly because of the global economic downturn and the deceleration of global demand, as well as emerging risks stemming from Chinas economic slowdown, the loss of preferential market access to the 24 Oct 2021. Fax: 855 23 268 601. Cambodia; China, People's Republic of; Cook Islands; Economically, Cambodia has enjoyed strong growth rates during the past decade. GDP per Capita in Cambodia (with a population of 16,009,409 people) was $1,137 in 2017, an increase of $59 from $1,078 in 2016; this represents a change of 5.5% in GDP per capita. PHNOM PENH, CAMBODIA (3 April 2020) After two decades of strong performance, Cambodias economic growth is expected to drop to 2.3% in 2020. Cambodias economic growth is projected to reach around 7% by 2020 due to growth in exports, foreign investment inflows, tourism, and construction and real estate, sectors which are expected to enjoy continued growth. (Recasts, adds details, byline) * 2020 GDP estimate raised to +2.54%, vs previous forecast +1.56%. New regional trade agreements will promote inward investment and exports. Still, activity may have picked up in H2 2021 due to a rise in tourist arrivals and private consumption as Covid-19 restrictions loosened. In 2020, GDP for Cambodia was 25.95 billion US dollars. Email: APDKHMRR@imf.org. There were 21.24 million mobile connections in Cambodia in January 2020. The maximum growth was 13.3 % and minimum was -3.1 % Data published Yearly by National Institute of Statistics. Cambodias economy to grow 7.1 percent in 2020. This is a list of ASEAN countries by GDP. The government has made it a priority to attract investment from abroad. The International Monetary Fund (IMF) has forecasted that Cambodia's Gross Domestic Product (GDP) will experience a negative growth of 1.7 percent in 2020 due to social distancing measures to contain the COVID-19 pandemic. ADO 2022 Per capita GDP growth for Cambodia is expected at 3.6% in 2022 and 5.0% in 2023 ADB Report Office Information. (approximately $1.02 billion) In 2020 Asias GDP will overtake the GDP of the rest of the world combined. 2.5% of GDP (2021 est.) The revised economic forecast still paints a gloomy picture with Cambodias most vulnerable people facing prolonged hardships, but opportunities are beginning to emerge according to the ADB. After experiencing accelerated growth of 7.5 percent in 2018, the economy is expected to return to its long-termof abo potential ut 7 percent. Zi Liang Wee. Statistics and historical data on GDP growth rate, per capita PPP, constant prices. 1994-2020 Data | 2021-2022 Prognose. The economy of Cambodia has grown at an average annual growth rate of 4.6% in the last four years and is ranked the 25th largest economy in Asia-Pacific, ahead of Laos. List 2045. 2020-02-01. NBC: 4% economic growth in 2021 In 2020, the real GDP growth in Cambodia amounted to about minus 3.14 percent. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. Cambodia Trade Statistics including exports and imports by partner and products, tariffs and relevant development indicators. (approximately $1.13 billion) 2.1% of GDP (2017 est.) Syria. Figures and forecasts are as of ADB's Asian Development Outlook Update (ADOU) 2021, released in September 2021. Therefore, in the current year, Cambodias economy is likely to register its slowest growth since 1994, contracting between -1 percent (baseline) and -2.9 percent (downside). This is due to the new coronavirus disease (COVID-19) pandemic, the resulting economic slowdown in the major advanced economies and the Peoples Republic of China, and the countrys reduced 4778 Views. Europe and the United States are expected to go into recession just as the outbreak subsides in China and Korea. Singapore-based ASEAN+3 Macroeconomic Research Office (AMRO) projected robust growth in the Cambodian economy this year despite stronger external headwinds. Cambodia economic growth for 2020 was $25.29B, a 6.64% decline from 2019. AMRO now projects the ASEAN+3 regions growth to decline sharply to 2 percent in 2020, followed by a strong rebound to 5.5 percent in 2021. 1960 1970 1980 1990 2000 2010 USD 0 USD 500 USD 1K USD 1.5K USD 2K. Cambodia has seen solid growth since 1998, with GDP growth averaging at about 8% each year. DataBank Microdata Data Catalog. 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. GDP Per Capita. The percentage change in GDP per capita for the latest 5 years for which data is published. By Jeanny Kao, Yimou Lee. CBO projects that from 2020 to 2030, annual real GDP will be 3.4 percent lower, on average, than it projected in January. 4444 Views. Cambodia Economy. Guyana is followed by Guinea (7.1%), Ethiopia (6.1%), and Ireland (5.9%). On average, ASEAN population Cambodia GDP. Cambodia real GDP growth was at level of -3.5 % in 2020, down from 7 % previous year. Local News. Economic performance had positive statistics telling of an average GDP gwoth of 8.2% between 2000-2010, and 7.4% from 2011-2013. Economy 2020. Mexico Economic Growth. Data published Yearly by World Bank. Unemployment slightly improved to 6.1%, but still remains well above pre-pandemic levels of 3.5%. Accessed 05 April 2020. GDP per capita is US$1,215 [2016, MEF] compared to approximately US$200 in1992. Resilient exports The gross domestic product (GDP) measures of national income and output for a given country's economy. Gross domestic product (GDP) growth rates for ADB's developing member countries. Browse by Country or Indicator. GDP of Cambodia in nominal and ppp terms. The Kingdom still imported iron and steel worth $281.06 million though, a drop of 41.11 per cent from 2019. India 7.2%; growth powered by manufactured goods and electronics. General economics statistics are from the National Institute of Statistics of Cambodia and the National Bank of Cambodia. In 2021, the economy likely grew only mildly, owing to the countrys sharpest Covid-19 wave to date. 1994 - 2020. Cambodia drastically downgraded its economic forecast for 2021 to 2.5 per cent from the 4.1 per cent projection announced at the beginning of the year, due to the . 2.2% of GDP (2019 est.) Quarterly GDP growth rate of seven ASEAN Member Semester-1 2020 .. 48 Figure 7.3. Real GDP in Cambodia is estimated to be $20 Billion US dollars at the end of 2020. As exports moderate in line with deceleration in global demand (see box 1), real growth is projected to ease to 7 percent in 2019. Additional resources. This marked the first time within the last decade that the GDP per capita growth (annual %) Cambodia. GDP and GDP per capita data are according to IMF for 2022 data. GDP - real growth rate compares GDP growth on an annual basis adjusted for inflation and expressed as a percent. Moreover, an uncertain domestic business environment will likely cap private investment. 21. Revised GDP growth forecasts indicate the Cambodian economy is doing better than initially expected. Real GDP (gross domestic product) growth is forecast to moderate to a more sustainable rate of 7.1 This dataset provides the growth rates of real per capita GDP, which is defined as GDP at constant prices divided by the population. globalEDGE - Your source for business knowledge Menu. The key growth driversconstruction, tourism, and merchandise exportswhich together account for more than 70 percent of growth and Cambodias Gross Domestic Product (GDP) growth is projected to slow down to -1.5% as the decline in tourist arrivals and the impact on the garment industry resulting from the outbreak of the COVID-19 pandemic in the country. According to the figures, the most noteworthy high-growth developing Asian countries for 2020 and beyond are. PHNOM PENH--Diversification of both export products and their destinations are reportedly behind the Asian Development Banks (ADB) revised economic In a macroeconomic and banking progress outlook for 2019 and 2020 released on 02 January, the For 2021, MTI has maintained the GDP growth forecast at 4.0 to 6.0 per cent. Predictions estimate that 2021 GDP growth will offset the deficit of -2 to -4% expected in 2020. The United States economys growth rate for 2019 was quite low when compared to other countries. The annual growth of real GDP averages 2.6 percent during the five-year period, exceeding the 1.9 percent growth rate of real potential GDP (see Figure 1). 1960 - 2020 GDP growth (annual %) GDP (constant 2015 US$) GDP (constant LCU) GDP: linked series (current LCU) GDP, PPP (constant 2017 international $) -36.5%. May 24, 2022. Local News. The tourism, garment, construction and real estate, and agriculture sectors accounted for the bulk of growth. In the general growth of the whole economy, the industry and construction sector achieved the highest growth rate with 3.98%, contributing 1.62 percentage points to the general growth. Most Recent Values. The Asian Development Bank (ABD) has slashed Cambodias 2020 gross domestic product (GDP) growth to 2.3 per cent from its initial 6.8 per cent forecast due to the slowdown in major economies and China and reduced access to export markets. The annual unemployment rate, which was projected to average 4.2 percent, is now projected to average 6.1 percent. In 2020, Cambodia's gross domestic product amounted to around 25.19 billion U.S. dollars. Aktuelle vrdier, historiske data, prognoser, statistik, diagrammer og konomisk kalender - Cambodia - BNP, rlig Growth Rate. 2.5% of GDP (2020 est.) Rank Country Population in million GDP Nominal millions of USD GDP Nominal per capita USD GDP (PPP) Cambodia: 17.147: 28,020: 1,842: 87,856: 5,493 10 As a result, Chinas economic recovery will be much weaker at 3.5 percent in 2020. Cambodia's imports 2020 by country . May Kunmakara. In 2022, growth is seen slowing due to higher inflation and interest rates, and ebbing momentum in the U.S. More positively, higher oil prices will aid government coffers. Cambodia: GDP/cap growth, 5 years (%). The Covid-19 pandemic has slowed the global economy and the country is directly impacted by the slump in world trade. The bank forecast the Vietnamese economy growing 9.3% in 2021 a much higher growth rate than the 6.7% expansion projected by the World Bank. With a projected gdp growth rate of 43.48% in 2020, Guyana is the fastest growing economy in the world. (These were made before the COVID-19 impacts early in 2020). The GDP value of Cambodia represents 0.02 percent of the world economy. Cambodias GDP per capita stood at $1,674 in 2019, while the average annual inflation rate was estimated at 3.2 percent. GDP Growth Rate in 2017 was 7.10%, representing a change of 1,206,627,422 US$ over 2016, when Real GDP was $16,995,073,301. The robust economic growth is expected to result Estimates by world bank since 1961. GDP Growth Rate, Asian Development Outlook 2020 (XLSX) *2020-2021 are forecasts . September 24, 2020 1:37 PM. 2014. Wage and income growth will pick up, benefiting private consumption, but higher inflation as a result of a sharp rise in oil prices, exacerbated by the Ukraine conflict, will GDP GROWTH RATE IN THE PERIOD 2011-2020. The Cambodian economy is projected to expand 6.1 percent this year, lower than the growth rate of 7.1 percent recorded in 2018, due to external headwinds, said Secretary of State of Cambodias Ministry of Economy and Finance Vongsey Vissoth on January 30. Over a six-month period from Q1 2020 to Q3 2020, eighteen landed property scheme were launched, equivalent to some 7,500 units. Data from datacatalog.worldbank.org. -. Annual percentage growth rate of GDP at market prices based on constant local currency. (purchasing power parity) in Cambodia decreased to 4192 USD in 2020. source: World Bank. The economy in 2020 registered its worst performance since 1994, contracting by 3.1 percent. Close. The authorities have relaxed travel restrictions in an effort to Cambodia, which are among the poorest countries, 4.7 percentage points on the average annual GDP growth rate over 1998-2018. Countries by Real GDP Growth Rate in 2018 (Data from IMF WEO Database, April 2020) This article includes a lists of countries and dependent territories sorted by their real gross domestic product growth rate; Cambodia 7.357 7.143 7.036 6.863 6.997 7.469 7.054 -3.130 2.151 5.438 Cameroon 4.987 5.779 5.600 4.479 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. Cambodia has adapted to COVID-19. 20 April 2020. Any other data tables with detailed analysis will be presented in the final report, which is scheduled to be published by the end of second quarterly 2020, and 14 topic reports are expected to be published by 2020 and 2021. Real GDP expands rapidly over the coming year, reaching its previous peak in mid-2021 and surpassing its potential level in early 2025. Compared to the October WEO forecast, the estimate for 2019 and the projection for 2020 represent 0.1 percentage point reductions for each year while that for 2021 is 0.2 percentage point lower. 96. View Document. This economic growth is expected to trend upwards, with a growth of 7.0% projected for 2019 and 6.8% for 2020, according to the Asian Development Bank. Exchange Square, 13th floor, Unit 1301. Cambodia Economic Outlook. Building No. GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy Asia-Pacific will also be responsible for the overwhelming majority (90%) of the 2.4 billion new members of the middle class entering the global economy. Cambodia Trade. While the Cambodian economy continues to suffer from the impacts of the COVID-19 pandemic, there are signs that economic activity is beginning to pick up. GROSS DOMESTIC PRODUCT PER CAPITA (ANNUAL RATE OF GROWTH, 2020) Real GDP in Cambodia is estimated to be $20 Billion US dollars at the end of 2020. Among G7 countries, the United Kingdom saw its economy shrink the most in 2020 (minus 9.4%) and recorded the highest annual growth in 2021 (7.5%). "This is the lowest GDP growth level in the 2011-2020 period. Cambodia gdp growth rate for 2020 was -3.14%, a 10.2% decline from 2019. France experienced an increase of 7.0% in 2021 compared with a contraction of 7.9% in 2020, while Italys economy expanded by 6.4% in 2021 after contracting by 8.9% in 2020. The Gross Domestic Product (GDP) in Cambodia is expected to contract 3.10 percent in 2020. Tel: 855 23 268 602 and 268 603. ADO 2022 Cambodia's inflation rates forecasted at 4.7% in 2022 and 2.2% in 2023. Tourism is another large contributor to growth, with tourist arrivals reaching 6.61 million in 2019. As exports moderate in line with deceleration in global demand (see box 1), real growth is projected to ease to 7 percent in 2019. No claims are made regarding the accuracy of GDP - real growth rate (%) information contained here. GDP Annual Growth Rate in Cambodia decreased by 3.1 % in 2020. The rapid spread of the virus in Cambodia during 2021 has set the economy back again, after external demand collapsed in 2020. Label. GDP of Cambodia in nominal and ppp terms. The authorities responded to the crisis with measures to support households and firms, including increased healthcare spending; a new system of cash transfers to vulnerable households; loans and guarantees; tax breaks; and By 2030, the region is expected to contribute roughly 60% of global growth. Poverty could increase between 3 and 11 percentage points from a 50 percent income loss that lasts for six months 3 Min Read. Almost 2.2m of Cambodias 10m-odd adults have a microcredit loan outstanding, according to the Cambodian Microfinance Association ( CMA ), an industry group. Singapore-based ASEAN+3 Macroeconomic Research Office (Amro) on May 6 projected the Cambodian economy to grow by 4.0 per cent in 2021, led by a robust recovery in manufacturing and supported by continued fiscal stimulus by the government. Latest trade data available from various sources. Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand and Viet Nam. Top trading partners (import sources) of Cambodia in 2020: China with a share of 37% (7.09 billion US$) Thailand with a share of 15% (2.86 billion US$) Vietnam with a share of 13.8% (2.65 billion US$) Singapore with a share of 5.14% (984 million US$) Other Asia, nes with a share of 3.94% (754 million US$) The tourism, garment, construction and real estate, and agriculture sectors accounted for the bulk of growth. Cambodia Economy. Only these four countries have a gdp growth rate above 5%, and only sixteen have a growth rate above 2%. Projections by IMF. Per Capita GDP Growth Rate, Asian Development Outlook 2020 (CSV) *2020-2021 are forecasts. An Update to the Economic Outlook: 2020 to 2030. As vaccine rollouts accelerated in 2021, real GDP grew by an annual rate of 6.4% in the first quarter. 19 & 20, Street 106, Sangkat Wat Phnom, Khan Daun Penh, Phnom Penh, Kingdom of Cambodia. Tourism is another large contributor to growth, with tourist arrivals reaching 6.61 million in 2019. EIU expects Cambodia's real GDP growth to accelerate to 6.6% in 2022, after an estimated expansion of 1.6% in 2021. (approximately $1.2 billion) 2.2% of GDP (2018 est.) A 4.48 percent Q4 growth has propelled Vietnams annual growth to 2.91 percent for the year, the General Statistics Office said Sunday afternoon. In the U.S., interest rates fell to record lows, dropping by 0.1 percentage points between April 2020 and March 2021. In 2020 alone, economic growth could contract by 4.1% as a result of the pandemic, according to the UN Development Program. GDP is an important indicator of a country's economic power. Estimates by world bank since 1961. The maximum level was 4389 USD and minimum was 1111 USD. Same region; Similar values; Highest values; Lowest values; Share Details. With the easing of social distancing measures, domestic economic activity is gradually COVID-19 has brought this to a negative rate growth of 5.3% in 2020 due to a decrease of FDI from China, Asian Development Bank (ADB), Cambodias economic growth to slow in 2020, rebound expected in 2021, 03 April 2020. the speeding up of economic growth at an annual rate of 6-7%; eradicating corruption; this lack in productivity due to lack of education will hold back economic growth in Cambodia. Between 2001 and 2020, GDP of Cambodia grew substantially from 3.99 to 25.95 billion US dollars rising at an increasing annual rate that reached a maximum of 19.84% in 2008 and then decreased to -2.90% in 2020. Annual percentage growth rate of the countrys trade value (export or import), by sector, at market prices in current U.S. dollars Shares of GDP & other: Last Updated : Jan-10-2020: Imports of goods and services (% of GDP) 62.47: Definition :