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Cambodia economic update : staying competitive through improving productivity (English)

Growth remained strong at 6.9 percent in 2016, after 7.0 percent in 2015. Cambodia's economic activity continues to expand at a robust pace. Construction remained one of the main drivers of growth. Garment exports eased slightly as the country’s external competitiveness was eroded by US dollar appreciation, rising labor costs and increasing competition from other regional low-wage countries. Better weather conditions last year resulted in increased agricultural production, although agricultural commodity prices remain depressed. Real growth is projected to remain strong, expanding at 6.9 percent in 2017 and 2018, partly underpinned by government spending. Downside risks to this outlook include the fallout from further rises in US interest rates, a slower-than-expected economic recovery in Europe, and uncertainties over global trade. Poverty reduction is expected to continue over the next few years, driven mainly by the garment, construction and services sectors, together with increases in remittances.

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Details

  • Document Date

    2017/04/01

  • Document Type

    Working Paper

  • Report Number

    114938

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    Cambodia,

  • Region

    East Asia and Pacific,

  • Disclosure Date

    2017/05/16

  • Disclosure Status

    Disclosed

  • Doc Name

    Cambodia economic update : staying competitive through improving productivity

  • Keywords

    national institute of statistic;access to bank loan;balance of payment statistic;early stage of development;export import trade;current account deficit;dollar exchange rate;foreign currency deposit;domestic credit growth;global financial crisis;agricultural commodity price;public sector wage;current account balance;international oil price;change in employment;increase in remittance;annual productivity growth;cost of living;Real estate;construction sector;private sector wage;public capital investment;public sector productivity;public service delivery;Economy and Finance;finance and markets;public investment management;public spending trend;open market operation;european central bank;demand for import;private money lenders;average productivity growth;average interest rate;private sector credit;exchange rate policy;Exchange rate policies;consumer price index;share of credit;exchange rate stability;vegetable and fruit;outstanding loan amount;interest rate cap;interest rate increases;secondary school attainment;public capital spending;domestic credit expansion;price of export;country of origin;human resource development;foreign direct investment;rural income;banking sector;broad money;rice production;footwear export;natural rubber;outstanding credit;fiscal deficit;inflationary pressure;weather condition;international arrivals;merchandise export;Exchange Rates;rural area;agricultural production;agriculture sector;Capital Inflows;external position;tourist arrival;lending rate;domestic demand;agricultural wage;trade balance;tourism sector;construction material;export growth;trade deficit;vietnamese dong;export price;Fixed Assets;rainy season;development partner;merchandise import;domestic inflation;real growth;government spending;downside risk;wet season;regional inflation;cultivated area;food component;domestic production;external competitiveness;international reserve;tourist attraction;monetary aggregate;direct flight;household consumption;monetary sector;agricultural income;total employment;socio-economic survey;capita value;deposit rate;export value;minimum wage;wage income;real sector;remittance inflow;livelihood diversification;global trade;depository institution;improving productivity;economic recovery;commercial bank;Treasury securities;deposit growth;organizational structure;prudential measures;retail trade;credit market;financial dependence;investor confidence;food price;worth emphasizing;finance institution;fiscal source;treasury security;rise construction;high wage;import substitution;medical expense;loan proceeds;bank finance;import price;global food;money growth;export volume;inflation expectation;wages rise;harvest area;informal trader;tourism market;thai baht;loan portfolio;loan rate;tourism statistics;manufacturing sector;microfinance market;potential candidate;commercial construction;policy option;wage growth;wage spending;Capital Investments;employment growth;downward pressure;severe drought;agricultural growth;weather event;industry sector;Public Infrastructure;program leader;media releases;dry season;agricultural employment;agriculture income;Agricultural Technology;employment rate;distribution list;harvested crop;area expansion;grain price;supply constraint;industrial commodity;domestic revenue;public expenditure;footwear industry;unskilled worker;labor productivity;Fiscal Expansion;Export Diversification;physical development;inadequate infrastructure;asian countries;import surge;exporting country;price level;productive investment;property repair;monetary policy;physical infrastructure;wage increase;capital budget;income source;increased competition;legal framework;average price;import growth;investment efficiency;energy cost;construction boom;fiscal balance;commercial properties;concessional term;microfinance lending;outstanding debt;reallocation effect;paddy rice;increased access;disposable income;Bank Credit;loan size;comparator country;migrant worker;rising consumption;foreign asset;financial product

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Citation

Cambodia economic update : staying competitive through improving productivity (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/780641494510994888/Cambodia-economic-update-staying-competitive-through-improving-productivity