Cambodia Economic Update, November 2019 : Upgrading Cambodia in Global Value Chains

Cambodia’s economy continues to show signs of robust growth, underpinned by solid export performance and strong domestic demand. Key macroeconomic data for the first six-months, however, indicate a slight deceleration of economic activity this year...

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Main Author:	World Bank
Format:	Report
Language:	English
Published:	World Bank, Phnom Penh 2019
Subjects:	GLOBAL VALUE CHAIN SMALL AND MEDIUM-SIZED ENTERPRISES TECHNICAL EDUCATION VOCATIONAL EDUCATION ECONOMIC GROWTH ECONOMIC OUTLOOK FOREIGN DIRECT INVESTMENT CURRENT ACCOUNT DEFICIT TOURISM POVERTY REDUCTION MALNUTRITION MONETARY POLICY FISCAL TRENDS ACCESS TO FINANCE REVENUE COLLECTION PUBLIC EXPENDITURE DEBT RISKS TRADE AGREEMENTS
Online Access:	http://documents.worldbank.org/curated/en/707971575947227090/Cambodia-Economic-Update-Upgrading-Cambodia-in-Global-Value-Chains http://hdl.handle.net/10986/33028

id	okr-10986-33028
recordtype	oai_dc
spelling	okr-10986-330282021-05-25T09:30:45Z Cambodia Economic Update, November 2019 : Upgrading Cambodia in Global Value Chains World Bank GLOBAL VALUE CHAIN SMALL AND MEDIUM-SIZED ENTERPRISES TECHNICAL EDUCATION VOCATIONAL EDUCATION ECONOMIC GROWTH ECONOMIC OUTLOOK FOREIGN DIRECT INVESTMENT CURRENT ACCOUNT DEFICIT TOURISM POVERTY REDUCTION MALNUTRITION MONETARY POLICY FISCAL TRENDS ACCESS TO FINANCE REVENUE COLLECTION PUBLIC EXPENDITURE DEBT RISKS TRADE AGREEMENTS Cambodia’s economy continues to show signs of robust growth, underpinned by solid export performance and strong domestic demand. Key macroeconomic data for the first six-months, however, indicate a slight deceleration of economic activity this year, compared to a strong growth performance of 7.5 percent in 2018. Garment and footwear exports, accounting for about 70 percent of total merchandise exports, grew at 17.7 percent in 2018, but eased slightly to 15.3 percent (y/y) in June 2019. Bustling construction activity has continued, reflecting a sustained appetite for investment. As a result, steel imports skyrocketed, rising 63.5 percent (y/y) in volume terms in June 2019, up from 27.7 percent in 2018. During the first half of 2019, although the reported value of newly approved investment projects accelerated, foreign direct investment (FDI) inflows, of which about 40 percent originated from China, eased. The tourism sector remained resilient; international arrival growth increased to 11.2 percent (y/y) in June 2019, compared with 10.7 percent in 2018, with almost 40 percent of foreign visitors coming from China. Rising domestic consumption fueled by a surge in FDI inflows in recent years drove import growth. Imports of petroleum products and motor vehicles rose by 91.0 percent and 18.5 percent, respectively. Thanks mainly to depressed domestic food and oil prices, inflation continued to be subdued, declining slightly to 1.4 percent (y/y) in mid-2019, down from 1.6 percent in 2018. While being softly pegged at around 4,000 riel per US dollar, the local currency depreciated slightly to 4,089 riel per US dollar in August 2019, up from 4,018 riel per US dollar in December 2018, likely due to slower capital inflows. 2019-12-17T16:08:31Z 2019-12-17T16:08:31Z 2019-11 Report http://documents.worldbank.org/curated/en/707971575947227090/Cambodia-Economic-Update-Upgrading-Cambodia-in-Global-Value-Chains http://hdl.handle.net/10986/33028 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
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	GLOBAL VALUE CHAIN SMALL AND MEDIUM-SIZED ENTERPRISES TECHNICAL EDUCATION VOCATIONAL EDUCATION ECONOMIC GROWTH ECONOMIC OUTLOOK FOREIGN DIRECT INVESTMENT CURRENT ACCOUNT DEFICIT TOURISM POVERTY REDUCTION MALNUTRITION MONETARY POLICY FISCAL TRENDS ACCESS TO FINANCE REVENUE COLLECTION PUBLIC EXPENDITURE DEBT RISKS TRADE AGREEMENTS
spellingShingle	GLOBAL VALUE CHAIN SMALL AND MEDIUM-SIZED ENTERPRISES TECHNICAL EDUCATION VOCATIONAL EDUCATION ECONOMIC GROWTH ECONOMIC OUTLOOK FOREIGN DIRECT INVESTMENT CURRENT ACCOUNT DEFICIT TOURISM POVERTY REDUCTION MALNUTRITION MONETARY POLICY FISCAL TRENDS ACCESS TO FINANCE REVENUE COLLECTION PUBLIC EXPENDITURE DEBT RISKS TRADE AGREEMENTS World Bank Cambodia Economic Update, November 2019 : Upgrading Cambodia in Global Value Chains
geographic_facet	East Asia and Pacific Cambodia
description	Cambodia’s economy continues to show signs of robust growth, underpinned by solid export performance and strong domestic demand. Key macroeconomic data for the first six-months, however, indicate a slight deceleration of economic activity this year, compared to a strong growth performance of 7.5 percent in 2018. Garment and footwear exports, accounting for about 70 percent of total merchandise exports, grew at 17.7 percent in 2018, but eased slightly to 15.3 percent (y/y) in June 2019. Bustling construction activity has continued, reflecting a sustained appetite for investment. As a result, steel imports skyrocketed, rising 63.5 percent (y/y) in volume terms in June 2019, up from 27.7 percent in 2018. During the first half of 2019, although the reported value of newly approved investment projects accelerated, foreign direct investment (FDI) inflows, of which about 40 percent originated from China, eased. The tourism sector remained resilient; international arrival growth increased to 11.2 percent (y/y) in June 2019, compared with 10.7 percent in 2018, with almost 40 percent of foreign visitors coming from China. Rising domestic consumption fueled by a surge in FDI inflows in recent years drove import growth. Imports of petroleum products and motor vehicles rose by 91.0 percent and 18.5 percent, respectively. Thanks mainly to depressed domestic food and oil prices, inflation continued to be subdued, declining slightly to 1.4 percent (y/y) in mid-2019, down from 1.6 percent in 2018. While being softly pegged at around 4,000 riel per US dollar, the local currency depreciated slightly to 4,089 riel per US dollar in August 2019, up from 4,018 riel per US dollar in December 2018, likely due to slower capital inflows.
format	Report
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Cambodia Economic Update, November 2019 : Upgrading Cambodia in Global Value Chains
title_short	Cambodia Economic Update, November 2019 : Upgrading Cambodia in Global Value Chains
title_full	Cambodia Economic Update, November 2019 : Upgrading Cambodia in Global Value Chains
title_fullStr	Cambodia Economic Update, November 2019 : Upgrading Cambodia in Global Value Chains
title_full_unstemmed	Cambodia Economic Update, November 2019 : Upgrading Cambodia in Global Value Chains
title_sort	cambodia economic update, november 2019 : upgrading cambodia in global value chains
publisher	World Bank, Phnom Penh
publishDate	2019
url	http://documents.worldbank.org/curated/en/707971575947227090/Cambodia-Economic-Update-Upgrading-Cambodia-in-Global-Value-Chains http://hdl.handle.net/10986/33028
_version_	1764477839184232448

Cambodia Economic Update, November 2019 : Upgrading Cambodia in Global Value Chains

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