Cambodia

From 2004 to 2007, the economy grew about 10% per year, driven largely by an expansion in the garment sector, construction, agriculture, and tourism. GDP contracted 1.5% in 2009 as a result of the global economic slowdown, but climbed more than 4% in 1010, driven by renewed exports. With the January 2005 expiration of a WTO Agreement on Textiles and Clothing, Cambodian textile producers were forced to compete directly with lower-priced countries such as China, India, Vietnam, and Bangladesh. The garment industry currently employs more than 280,000 people - about 5% of the work force - and contributes more than 70% of Cambodia’s exports. In 2005, exploitable oil deposits were found beneath Cambodia’s territorial waters, representing a new revenue stream for the government if commercial extraction begins. Mining also is attracting significant investor interest, particularly in the northern parts of the country. The government has said opportunities exist for mining bauxite, gold, iron and gems. In 2006, a US-Cambodia bilateral Trade and Investment Framework Agreement (TIFA) was signed, and several rounds of discussions have been held since 2007. Rubber exports increased about 25% in 2009 due to rising global demand. The tourism industry has continued to grow rapidly, with foreign arrivals exceeding 2 million per year in 2007-08, however, economic troubles abroad dampened growth in 2009. The global financial crisis is weakening demand for Cambodian exports, and construction is declining due to a shortage of credit. The long-term development of the economy remains a daunting challenge. The Cambodian government is working with bilateral and multilateral donors, including the World Bank and IMF, to address the country’s many pressing needs. The major economic challenge for Cambodia over the next decade will be fashioning an economic environment in which the private sector can create enough jobs to handle Cambodia’s demographic imbalance. More than 50% of the population is less than 25 years old. The population lacks education and productive skills, particularly in the poverty-ridden countryside, which suffers from an almost total lack of basic infrastructure.

$29.46 billion (2010 est.)

$28.3 billion (2009 est.)

$28.73 billion (2008 est.)

$11.36 billion (2010 est.)

4.1% (2010 est.)

-1.5% (2009 est.)

5% (2008 est.)

$2,000 (2010 est.)

$2,000 (2009 est.)

$2,100 (2008 est.)

8 million (2009 est.)

3.5% (2007 est.)

2.5% (2000 est.)

31% (2007 est.)

43 (2007 est.)

40 (2004 est.)

20.9% of GDP (2010 est.)

4.1% (2010 est.)

-0.7% (2009 est.)

NA% (31 December 2008)

5.25% (31 December 2007)

17% (31 December 2009)

16.01% (31 December 2008)

$850.7 million (31 December 2010 est)

$747.2 million (31 December 2009 est)

$4.982 billion (31 December 2010 est.)

$3.899 billion (31 December 2009 est.)

$2.195 billion (31 December 2010 est.)

$1.991 billion (31 December 2009 est.)

$NA

rice, rubber, corn, vegetables, cashews, tapioca, silk

tourism, garments, construction, rice milling, fishing, wood and wood products, rubber, cement, gem mining, textiles

4.5% (2010 est.)

1.273 billion kWh (2007 est.)

1.272 billion kWh (2007 est.)

0 kWh (2008 est.)

167 million kWh (2007 est.)

0 bbl/day (2009 est.)

4,000 bbl/day (2009 est.)

0 bbl/day (2007 est.)

30,970 bbl/day (2007 est.)

0 bbl (1 January 2010 est.)

0 cu m (2008 est.)

0 cu m (2008 est.)

0 cu m (2008 est.)

0 cu m (2008 est.)

0 cu m (1 January 2010 est.)

-$918 million (2010 est.)

-$865.7 million (2009 est.)

$5.212 billion (2010 est.)

$4.302 billion (2009 est.)

clothing, timber, rubber, rice, fish, tobacco, footwear

US 45.32%, Singapore 9.46%, Germany 7.52%, UK 7.07%, Canada 6.31%, Vietnam 4.15% (2009)

$6.944 billion (2010 est.)

$5.876 billion (2009 est.)

petroleum products, cigarettes, gold, construction materials, machinery, motor vehicles, pharmaceutical products

Thailand 24.83%, Vietnam 19.73%, China 14.08%, Singapore 11.34%, Hong Kong 7.41%, Taiwan 5.1%, South Korea 4.06% (2009)

$3.84 billion (31 December 2010 est.)

$3.289 billion (31 December 2009 est.)

$4.338 billion (31 December 2010 est.)

$4.284 billion (31 December 2009 est.)

riels (KHR) per US dollar - 4,217.96 (2010), 4,139.33 (2009), 4,070.94 (2008), 4,006 (2007), 4,103 (2006)