Economy Of Cambodia
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Economy overview
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Cambodia's economy slowed dramatically in 1997-1998 due to the regional economic crisis, civil violence, and political infighting. Foreign investment and tourism fell off. In 1999, the first full year of peace in 30 years, progress was made on economic reforms. Growth resumed and has remained about 5.0% during 2000-2003. Tourism was Cambodia's fastest growing industry, with arrivals up 34% in 2000 and up another 40% in 2001 before the 11 September 2001 terrorist attacks in the US. Cambodia expects 1 million foreign tourists in 2004. Economic growth has been largely driven by expansion in the clothing sector and tourism. Clothing exports were fostered by the U.S.-Cambodian Bilateral Textile Agreement signed in 1999. Even given Cambodia's recent growth, the long-term development of the economy after decades of war remains a daunting challenge. The population lacks education and productive skills, particularly in the poverty-ridden countryside, which suffers from an almost total lack of basic infrastructure. Fear of renewed political instability and a dysfunctional legal system coupled with government corruption discourage foreign investment. The Cambodian government continues to work with bilateral and multilateral donors to address the country's many pressing needs. The major economic challenge for Cambodia over the next decade will be fashioning an economic environment in which the private sector can create enough jobs to handle Cambodia's demographic imbalance. About 60% of the population is 20 years or younger; most of these citizens will seek to enter the workforce over the course of the next 10 years.
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GDP
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purchasing power parity - $25.02 billion (2004 est.)
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GDP - real growth rate
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5% (2004 est.)
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GDP - per capita
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purchasing power parity - $1,900 (2004 est.)
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GDP - composition by sector
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agriculture: 35%
industry: 30%
services: 35% (2003 est.)
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Investment gross fixed
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15.9% of GDP (2004 est.)
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Population below poverty line
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36% (1997 est.)
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Household income or consumption by percentage share
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lowest 10%: 2.9%
highest 10%: 33.8% (1997)
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Distribution of family income - Gini index
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40.4 (1997)
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Inflation rate consumer prices
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1.7% (2004 est.)
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Labor force
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7 million (2003 est.)
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Labor force by occupation
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agriculture 75% (2003 est.)
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Unemployment rate
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2.5% (2000 est.)
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Budget
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revenues: $476.5 million
expenditures: $734.8 million, including capital expenditures of $291 million of which 75% was financed by external assistance (2004 est.)
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Public debt
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Agriculture products
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rice, rubber, corn, vegetables, cashews, tapioca
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Industries
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tourism, garments, rice milling, fishing, wood and wood products, rubber, cement, gem mining, textiles
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Industrial production growth rate
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22% (2002 est.)
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Electricity production
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119 million kWh (2001)
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Electricity production by source
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fossil fuel: 65%
hydro: 35%
other: 0% (2001)
nuclear: 0%
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Electricity consumption
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110.6 million kWh (2001)
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Electricity exports
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0 kWh (2001)
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Electricity imports
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0 kWh (2001)
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Oil production
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0 bbl/day (2001 est.)
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Oil consumption
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3,600 bbl/day (2001 est.)
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Oil exports
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NA (2001)
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Oil imports
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NA (2001)
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Oil proved reserves
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Natural gas production
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Natural gas consumption
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Natural gas exports
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Natural gas imports
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Natural gas proved reserves
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Current account balance
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$-218.1 million (2004 est.)
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Exports
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$1.616 billion f.o.b. (2004 est.)
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Exports commodities
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Clothing, timber, rubber, rice, fish, tobacco, footwear
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Exports partners
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US 58.4%, Germany 10.3%, UK 7.2% (2003)
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Imports
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$2.124 billion f.o.b. (2003 est.)
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Imports commodities
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petroleum products, cigarettes, gold, construction materials, machinery, motor vehicles, pharmaceutical products
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Imports partners
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Thailand 26.4%, Hong Kong 14.4%, Singapore 11.8%, China 11.3%, Vietnam 8.3%, Taiwan 8%, South Korea 4.1% (2003)
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Reserves of foreign exchange gold
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$861.4 million (2004 est.)
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Debt external
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$2.4 billion (2002 est.)
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Economic aid recipient
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$548 million pledged in grants and concessional loans for 2001 by international donors (actual disbursement in 2002 was about $500 million)
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Currency
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riel (KHR)
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Currency code
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KHR
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Exchange rates
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riels per US dollar - 3,973.33 (2003), 3,912.08 (2002), 3,916.33 (2001), 3,840.75 (2000), 3,807.83 (1999)
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Fiscal year
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calendar year
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Applied Language Solutions offer English to Khmer Translation , English to French Translation , English Translation .
This information was reproduced in part from the CIA World Fact book.
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