The Peak Cambodia – Strong economic growth

Cambodia GDP inflation, the Cambodian economy was estimated to have expanded by about 7%, according to the International Monetary Fund (IMF). During the first nine months of 2014, the total number of foreign visitors who visited rose by 5.83%.

Cambodia continues to enjoy robust growth, albeit at a slightly slower pace. Real growth in 2014 is estimated to have reached 7%. The garment sector, together with construction and services, in particular finance and real estate, continues to propel growth. However, the 2015 and 2016 projection for economic growth is about 6.9%, as it confronts stronger competition in garment exports, continued weak agriculture sector growth, and softer growth in the tourism sector.

Cambodia has made good strides in improving maternal health, early child care, and primary education programs in rural areas. The number of deaths per 100,000 live births decreased from 472 in 2005 to 170 in 2014, the under-five child mortality rate decreased from 124 per 1,000 live births in 1998 to35 per 1,000 in 2014, and the net primary school admission rate increased from 81% in 2001 to 94.3% in 2012.

The outlook is for economic growth to pick up in light of anticipated stronger performance in trade partners – the United States and Thailand and, to a lesser extent, the European Union – coupled with a calmer domestic political environment and lower fuel costs. The gross domestic product is projected to increase by 7.3% in 2015 and 7.5% in 2016.

Over the medium term, growth will be stimulated by gradual diversification into light manufacturing and further integration into regional and global supply chains.

Phnom Penh is now an elegant, well-planned, prosperous city – whitewashed, bristling with economic activity. Over the past 2 years, it had attracted many foreign investors from Taiwan, China, Malaysia, Singapore and Japan to venture into this jewel in South East Asia

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