The high building growth in the capital. KT/Chor Sokunthea
Cambodia’s economic growth is projected to stay robust with 7 percent in 2019 due to strong economic performance last year, according to Asian Development Bank.
The Kingdom’s GDP growth in 2020 is forecast to hit slowdown growth of 6.8 percent, according to the Asian Development Outlook 2019, ADB’s flagship annual economic publication.
With a slowdown forecast in the advanced economies and China – major destinations for Cambodian exports–growth will likely soften for Cambodia’s exports and the tourism sector, it said.
It said that growth of industrial output is likely to ease from an estimated 10.8 percent in 2018 to 10.1 percent in 2019.
It said that the agriculture sector is projected to grow 1.7 percent, down from 1.8 percent last year.
ADB Country Director for Cambodia Sunniya Durrani-Jamal said that Cambodia’s economy is projected to grow over the next two years.
“Cambodia is projected to exhibit strong economic growth over the next two years, despite a weakening external environment,” she said.
“A key driver of growth in the future will be improving the quality of Cambodia’s human capital, including technical and vocational skills, to meet the demand of the private sector,” she said.