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Cambodia Economy 1999

    Economy—overview: After four years of solid macroeconomic performance, Cambodia's economy slowed dramatically in 1997-98 due to the regional economic crisis, civil violence, and political infighting. Foreign investment fell off, and tourism has declined from 1996 levels. Also, in 1998 the main harvest was hit by drought. The long-term development of the economy after decades of war remains a daunting challenge. Human resource levels in the population are low, particularly in the poverty-ridden countryside. The almost total lack of basic infrastructure in the countryside will continue to hinder development. Recurring political instability and corruption within government discourage foreign investment and delay foreign aid. Even so, growth may resume in 1999 at, say, 2%.

    GDP: purchasing power parity—$7.8 billion (1998 est.)

    GDP—real growth rate: 0% (1998 est.)

    GDP—per capita: purchasing power parity—$700 (1998 est.)

    GDP—composition by sector:
    agriculture: 51%
    industry: 15%
    services: 34% (1997 est.)

    Population below poverty line: NA%

    Household income or consumption by percentage share:
    lowest 10%: NA%
    highest 10%: NA%

    Inflation rate (consumer prices): 15% (1998 est.)

    Labor force: 2.5 million to 3 million

    Labor force—by occupation: agriculture 80% (1997 est.)

    Unemployment rate: NA%

    revenues: $261 million
    expenditures: $496 million, including capital expenditures of $NA (1995 est.)

    Industries: rice milling, fishing, wood and wood products, rubber, cement, gem mining, textiles

    Industrial production growth rate: 7% (1995 est.)

    Electricity—production: 195 million kWh (1996)

    Electricity—production by source:
    fossil fuel: 61.54%
    hydro: 38.46%
    nuclear: 0%
    other: 0% (1996)

    Electricity—consumption: 195 million kWh (1996)

    Electricity—exports: 0 kWh (1996)

    Electricity—imports: 0 kWh (1996)

    Agriculture—products: rice, rubber, corn, vegetables

    Exports: $736 million (f.o.b., 1997 est.)

    Exports—commodities: timber, garments, rubber, soybeans, sesame

    Exports—partners: Singapore, Japan, Thailand, Hong Kong, Indonesia, Malaysia, US

    Imports: $1.1 billion (f.o.b., 1997 est.)

    Imports—commodities: cigarettes, gold, construction materials, petroleum products, machinery, motor vehicles

    Imports—partners: Singapore, Vietnam, Japan, Australia, Hong Kong, Indonesia, Thailand

    Debt—external: $2.2 billion (1996 est.)

    Economic aid—recipient: $569.8 million (1995)

    Currency: 1 new riel (CR) = 100 sen

    Exchange rates: riels (CR) per US$1—3,772.0 (January 1999), 3,744.4 (1998), 2,946.3 (1997), 2,624.1 (1996), 2,450.8 (1995), 2,545.3 (1994)

    Fiscal year: calendar year

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Revised 1-Mar-99
Copyright © 1999 Photius Coutsoukis (all rights reserved)