Cambodia’s Economic Growth Will Help Poverty Reduction
Cambodia economic growth was 7.3 percent in 2012. ... Agriculture grew by 4.3 percent, crops by 4.9 percent, fisheries by 6.7 percent, industry by 9.2 percent, garment [sector] by 6.9 percent and the service industry by 8.1 percent, said Dr Hang Chuon Naron, Secretary of State for the Ministry of Finance of Cambodia. ... Moreover, gross domestic product per capita increased from 760 US dollars in 2008 to nearly 1,000 US dollars in 2012, with a projection of $1080 in 2013, he stresses [sic]. ... Cambodia’s rice export reached almost 180,000 tons in 2011 and 187,000 tons in 2012 of which more than 8 percent was exported to the EU. ... During the first 11 months of 2012, rubber exports increased by 23.9 percent ... although value decreased by 19 percent down from a total of $181.1 million to $146.7 million. In 2012, tourist arrivals increased by 24.4 percent to reach over 3.5 million from 2.88 million in 2011. ... Garment exports increased by 17.4 percent from $4.2 billion in 2011 to $5 billion in 2012. ... In 2012 ... some 1980 construction projects worth $1.6 billion were approved. ... The increase in the number of projects [displays] a steady recovery of the real estate sector, Mr Naron adds. He also said [tax revenue] is estimated to increase by 27 percent to 2, 5 01 reil ($625 million) in 2012. ... Microfinance has experienced rapid growth over the last five years, reaching 1.3 million borrowers and 1.1 savers in 24 provinces. ... Cambodia’s trade volume reached $12.4 billion in 2012 while Cambodia’s export was worth 5.58 billion in 2012 [Dr. Hang Chuon Naron stated].
