News

SMEs provide 70 percent jobs in Cambodia

The Royal Government of Cambodia is committed to promoting small and medium enterprises (SMEs) which are the backbone of the national economy, providing 70 percent of jobs and contributing 58 percent to the GDP. ...

Manoj Mathew
https://www.khmertimeskh.com/501469153/smes-provide-70-percent-jobs-in-cambodia/

Cambodia’s GDP likely to touch $35B this year, ministry says

Cambodia’s GDP could touch $35 billion (143 trillion riel) this year, said a senior official from the Ministry of Economy and Finance. ...

Rachel David
https://www.khmertimeskh.com/501443985/cambodias-gdp-likely-to-touch-35b-this-year-ministry-says/

IMF forecasts Cambodia GDP at 6%, but warns of weak US, China growth

Following the pandemic, economic growth has been steady, the International Monetary Fund (IMF) said, with expansion projected at six percent in 2024, from an estimated 5.3 percent last year, thanks to tourism and non-garment exports. ...

Sangeetha Amarthalingam
https://kiripost.com/stories/imf-forecasts-cambodia-gdp-at-6-but-warns-of-weak-us-china-growth

Agriculture now 22 per cent of GDP

Despite being challenged by natural disasters, climate change and global crises, agriculture sector contributed about 22 per cent of Cambodia’s gross domestic product (GDP) in 2023, according to Minister of Agriculture, Forestry and Fisheries Dith Tina. ...

Van Socheata
https://www.phnompenhpost.com/national/agriculture-now-22-per-cent-of-gdp

Tourism, manufacturing, infra development to raise GDP to 6.4% in 2024

Manufacturing, the recovery of Cambodian tourism on the back of regional improvement, and infrastructure development are likely to boost gross domestic product (GDP) growth, projected at 6.4 percent this year, up from 5.5 percent in 2023. ...

Sangeetha Amarthalingam
https://kiripost.com/stories/tourism-manufacturing-infra-development-to-raise-gdp-to-64-in-2024

Agriculture seen as key driver of Cambodia’s economic growth

Agriculture sector remains one of the economic drivers of Cambodia’s economic growth despite its share of the country’s gross domestic product (GDP) has shrunk. ...

Chea Vanyuth
https://www.khmertimeskh.com/501405986/agriculture-seen-as-key-driver-of-cambodias-economic-growth/

Credit growth too high, especially in real estate sectors

In July, the National Bank of Cambodia (NBC) flagged the “historically” high credit-to-gross domestic product (GDP) ratio, which stood at 189 percent in 2022, with credit-to-GDP gap reaching nearly 40 percent. ...

Sangeetha Amarthalingam
https://kiripost.com/stories/cambodia-credit-growth-too-high-especially-in-real-estate-sectors

New gov’t to strive hard to achieve upper-middle, high-income goals

Moments before Mr Hun Manet was sworn in as the new Prime Minister, his predecessor Mr Hun Sen said that he expects the new government to take Cambodia out of its least-developed country status and achieve the upper-middle-income and high-income in 2030 and 2050 respectively. ...

Kang Sothear
https://www.khmertimeskh.com/501347405/new-govt-to-strive-hard-to-achieve-upper-middle-high-income-goals/

GDP per capita to swell 8.3% in 2023, Pornmoniroth says

Deputy Prime Minister and Minister of Economy and Finance (MEF) Aun Pornmoniroth said yesterday that Cambodia’s annual economic growth per person or GDP per capita has been forecasted to increase to $1,932 in 2023 from $1,784 in the previous year, even as inflation has been ...

Kang Sothear
https://www.khmertimeskh.com/501312162/gdp-per-capita-to-swell-8-3-in-2023-pornmoniroth-says/

Cambodia and Vietnam’s GDP growth forecast to rank second in ASEAN in 2023

Vietnam’s GDP is projected to grow 5.8 percent this year, sharing the second position with Cambodia in the region, only after the Philippines, according to the International Monetary Fund (IMF). ...

Khmer Times Staff
https://www.khmertimeskh.com/501276403/cambodia-and-vietnams-gdp-growth-forecast-to-rank-second-in-asean-in-2023/

Cambodian agri exports rise 7.8% to 8.6M tonnes

Cambodia formally exported 8.6 million tonnes of agricultural products to 74 markets last year worth nearly $5 billion, up 7.8 per cent from the 7.9 million tonnes booked in 2021, as agriculture contributed 22.2 per cent of the Kingdom’s 2022 gross domestic product (GDP), according ...

Hin Pisei
https://www.phnompenhpost.com/business/cambodian-agri-exports-rise-78-86m-tonnes

Cassava prices swell in northwest border areas

Cassava prices have seen a marked on-year increase in areas near the Thai border, as the harvest reaches 85-90 per cent, according to industry insiders. ...

Hin Pisei
https://www.phnompenhpost.com/business/cassava-prices-swell-northwest-border-areas

ADB okays $73M financing package for marine fisheries

The Asian Development Bank (ADB) has announced that it greenlit a $73 million financing package on December 7 to improve the sustainability and climate resilience of the Kingdom’s marine fisheries subsector. ...

May Kunmakara
https://www.phnompenhpost.com/business/adb-okays-73m-financing-package-marine-fisheries

ASEAN a bright spot in gloomy global outlook, says IMF chief

The region and the globe remain in the grip of a slew of intractable crises on top of the persistent effects of Covid-19, posing precarious economic headwinds and dampening growth prospects for the coming years. ...

May Kunmakara
https://www.phnompenhpost.com/business/asean-bright-spot-gloomy-global-outlook-says-imf-chief

Cabinet predicts economic growth for 2023

Cambodian economic growth for 2023 is expected to be 6.6 per cent higher than the of the current gross domestic product of 32,291 million. GDP per capita is predicted to rise to $1,924, from the current figure of $1,785, according to the outcome of an ...

Post Staff
https://www.phnompenhpost.com/business/cabinet-predicts-economic-growth-2023

Tourism to bump up Cambodia’s GDP to 6.2% in 2023

Amid economic improvement with rising foreign visitors, Cambodia’s tourism recovery is expected to improve in 2023 pushing GDP to 6.2 percent.   ...

Sangeetha Amarthalingam
https://kiripost.com/stories/tourism-to-bump-up-cambodias-gdp-to-62-in-2023

Cambodia’s GDP and Inflation to Rise This Year, World Bank Says

Cambodia’s GDP growth is estimated to reach 4.8% this year, and continue rising for the next two years while remaining below pre-pandemic levels, and inflation may hit 6%, more than double the rates of the last two years, the World Bank said. ...

Sorn Sarath and Matt Surrusco
https://cambojanews.com/cambodias-gdp-and-inflation-to-rise-this-year-world-bank-says/

E-payments to save MSMEs on costs: NBC

Digitising payments could bring substantial cost savings for micro-, small-, and medium-sized enterprises (MSME), not only by simplifying cash management processes but also reducing potential opportunities for misappropriation or corruption, according to the central bank chief. ...

May Kunmakara
https://www.phnompenhpost.com/business/e-payments-save-msmes-costs-nbc

IMF, ADB peg 2022 GDP growth at 5%

Two major multilateral lenders have forecast Cambodia’s economic growth for 2022 at around five per cent, buoyed by bumper export performance earlier in the year, coupled with ongoing policy support and continued tourism recovery, but held back by external pressures associated with Covid-19 and the ...

May Kunmakara
https://www.phnompenhpost.com/business/imf-adb-peg-2022-gdp-growth-5

Cambodia’s GDP to grow at 5% in 2022, but inflation threat looms large

Cambodia’s economy is expected to grow at around five percent this year as against three percent last year, but the inflationary pressures being witnessed across the world can cut into the purchasing power of the country’s households as well, said the Financial Stability Report 2021, ...

Manoj Mathew
https://www.khmertimeskh.com/501097032/cambodias-gdp-to-grow-at-5-in-2022-but-inflation-threat-looms-large/

National economy experiencing robust growth: WB

The bank’s Cambodia Economic Update Report released yesterday said that Cambodia’s real growth of Gross Domestic Product (GDP) is forecast to decelerate to 7 percent in 2019, down from 7.5 percent in 2018.​ ...

Sok Chan
https://www.khmertimeskh.com/50664637/national-economy-experiencing-robust-growth-wb/

Smart Axiata accounts for 1.5 per cent of GDP

Smart Axiata Co Ltd, the Kingdom’s leading mobile telecommunications operator, contributed nearly $374 million to the Cambodian economy last year, accounting for 1.5 per cent of gross domestic product (GDP), its CEO Thomas Hundt said on Wednesday. ...

Thou Vireak
https://www.phnompenhpost.com/business/smart-axiata-accounts-15-cent-gdp

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