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Cambodia Economic Update, May 2019 : Recent Economic Developments and Outlook.
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- World Bank Group.
- Series:
- Economic Updates and Modeling.
- World Bank e-Library.
- Economic Updates and Modeling
- Language:
- English
- Subjects (All):
- Agriculture.
- Business Cycles and Stabilization Policies.
- Economic Growth.
- Export Competitiveness.
- Fiscal and Monetary Policy.
- Food Security.
- Footwear Industry.
- Foreign Direct Investment.
- Garment Industry.
- Industry.
- Inequality.
- Macroeconomics and Economic Growth.
- Nutrition.
- Poverty Reduction.
- Local Subjects:
- Agriculture.
- Business Cycles and Stabilization Policies.
- Economic Growth.
- Export Competitiveness.
- Fiscal and Monetary Policy.
- Food Security.
- Footwear Industry.
- Foreign Direct Investment.
- Garment Industry.
- Industry.
- Inequality.
- Macroeconomics and Economic Growth.
- Nutrition.
- Poverty Reduction.
- Other Title:
- Cambodia Economic Update, May 2019
- Place of Publication:
- Washington, D.C. : The World Bank, 2019.
- System Details:
- data file
- Summary:
- Preliminary estimates show real growth achieved a four-year high of 7.5 percent in 2018, compared to 7.0 percent in 2017. Driven primarily by rapid expansion of exports and robust internal demand, the economy performed better-than expected. Exports burgeoned as external demand, especially in the United States and European Union markets, strengthened. Garment and footwear exports which account for more than two-thirds of total merchandise exports, recorded a five-year high,rising by 17.6 percent in 2018, up from 8.3 percent in 2017. Upbeat consumer confidence led to a surge in imports. Motor vehicles and steel imports, which gauge domestic consumption and construction demands, rose by 50 percent and 48 percent, respectively. The current account deficit widened to 10.4 percent of GDP in 2018, from 9.7 percent of GDP in 2017, but remained fully financed by foreign direct investment (FDI). FDI is estimated to have reached a record high of more than 3.0 billion US dollars or 13.4 percent of GDP in 2018. Burgeoning exports and strong FDI inflows have contributed to further accumulation of gross international reserves, which in 2018 reached 10.1 billion US dollars or about six months of prospective imports.
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