Cambodia Economic Update, May 2019 : Recent Economic Developments and Outlook
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...
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World Bank, Phnom Penh
2019
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| Online Access: | http://documents.worldbank.org/curated/en/843251556908260855/Cambodia-Economic-Update-Recent-Economic-Developments-and-Outlook http://hdl.handle.net/10986/31641 |
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okr-10986-316412021-06-14T10:03:04Z Cambodia Economic Update, May 2019 : Recent Economic Developments and Outlook World Bank Group ECONOMIC GROWTH ECONOMIC OUTLOOK FOREIGN DIRECT INVESTMENT CAPITAL INFLOWS CURRENT ACCOUNT DEFICIT EXPORT COMPETITIVENESS RISKS EARLY CHILDHOOD DEVELOPMENT CHILDREN'S HEALTH NUTRITION MILLED RICE GARMENT INDUSTRY FOOTWEAR INDUSTRY 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. 2019-05-07T14:55:09Z 2019-05-07T14:55:09Z 2019-05 Report http://documents.worldbank.org/curated/en/843251556908260855/Cambodia-Economic-Update-Recent-Economic-Developments-and-Outlook http://hdl.handle.net/10986/31641 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Phnom Penh Economic & Sector Work Economic & Sector Work :: Economic Updates and Modeling East Asia and Pacific Cambodia |
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Digital Repository |
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Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
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World Bank |
| language |
English |
| topic |
ECONOMIC GROWTH ECONOMIC OUTLOOK FOREIGN DIRECT INVESTMENT CAPITAL INFLOWS CURRENT ACCOUNT DEFICIT EXPORT COMPETITIVENESS RISKS EARLY CHILDHOOD DEVELOPMENT CHILDREN'S HEALTH NUTRITION MILLED RICE GARMENT INDUSTRY FOOTWEAR INDUSTRY |
| spellingShingle |
ECONOMIC GROWTH ECONOMIC OUTLOOK FOREIGN DIRECT INVESTMENT CAPITAL INFLOWS CURRENT ACCOUNT DEFICIT EXPORT COMPETITIVENESS RISKS EARLY CHILDHOOD DEVELOPMENT CHILDREN'S HEALTH NUTRITION MILLED RICE GARMENT INDUSTRY FOOTWEAR INDUSTRY World Bank Group Cambodia Economic Update, May 2019 : Recent Economic Developments and Outlook |
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East Asia and Pacific Cambodia |
| description |
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. |
| format |
Report |
| author |
World Bank Group |
| author_facet |
World Bank Group |
| author_sort |
World Bank Group |
| title |
Cambodia Economic Update, May 2019 : Recent Economic Developments and Outlook |
| title_short |
Cambodia Economic Update, May 2019 : Recent Economic Developments and Outlook |
| title_full |
Cambodia Economic Update, May 2019 : Recent Economic Developments and Outlook |
| title_fullStr |
Cambodia Economic Update, May 2019 : Recent Economic Developments and Outlook |
| title_full_unstemmed |
Cambodia Economic Update, May 2019 : Recent Economic Developments and Outlook |
| title_sort |
cambodia economic update, may 2019 : recent economic developments and outlook |
| publisher |
World Bank, Phnom Penh |
| publishDate |
2019 |
| url |
http://documents.worldbank.org/curated/en/843251556908260855/Cambodia-Economic-Update-Recent-Economic-Developments-and-Outlook http://hdl.handle.net/10986/31641 |
| _version_ |
1764474823890698240 |