Cambodia's economic growth 2022

Cambodia's economy is forecasted to grow at 6.6 percent in 2024 based on the Ministry of Economy and Finance (“MEF”). However, International Monetary Fund (“IMF”) estimated that the growth is 6.0 per cent in its October 2023 World Economic Outlook. Still, this is the highest in the ASEAN region.

The MEF forecasted the economic growth is primarily pushed by key economic sectors. The industrial sector is expected grow by around 8.5% thanks to the anticipated revival of the garment sub-sector. Non-garment manufacturing is expected to remain strong while the construction sector stays behind.

The service sector is forecasted to grow by 6.9% in 2024 driven by domestic recovery, especially in hotels and restaurants, benefiting related sectors like wholesale-retail and transport.

The agricultural sector registers 1.1% growth in 2024. Crop and fisheries sub-sectors push the growth, while livestock remains constant.