Cambodia Economic Update, April 2017 : Staying Competitive through Improving Productivity
Growth remained strong at 6.9 percent in 2016, after 7.0 percent in 2015. Cambodia's economic activity continues to expand at a robust pace. Construction remained one of the main drivers of growth. Garment exports eased slightly as the country...
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| Format: | Report |
| Language: | English en_US |
| Published: |
World Bank, Phnom Penh
2017
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| Online Access: | http://documents.worldbank.org/curated/en/780641494510994888/Cambodia-economic-update-staying-competitive-through-improving-productivity http://hdl.handle.net/10986/27540 |
| Summary: | Growth remained strong at 6.9 percent in
2016, after 7.0 percent in 2015. Cambodia's economic
activity continues to expand at a robust pace. Construction
remained one of the main drivers of growth. Garment exports
eased slightly as the country’s external competitiveness was
eroded by US dollar appreciation, rising labor costs and
increasing competition from other regional low-wage
countries. Better weather conditions last year resulted in
increased agricultural production, although agricultural
commodity prices remain depressed. Real growth is projected
to remain strong, expanding at 6.9 percent in 2017 and 2018,
partly underpinned by government spending. Downside risks to
this outlook include the fallout from further rises in US
interest rates, a slower-than-expected economic recovery in
Europe, and uncertainties over global trade. Poverty
reduction is expected to continue over the next few years,
driven mainly by the garment, construction and services
sectors, together with increases in remittances. |
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