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].
