Cambodia's economy to grow by 5.6% in 2024, 5.9% in 2025: AMRO

26 May '24

1 min read

Cambodia's economy to grow by 5.6% in 2024, 5.9% in 2025: AMRO

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Insights

The ASEAN+3 Macroeconomic Research Office recently projected Cambodia's economy to robustly grow by 5.6 per cent this year and by 5.9 per cent in 2025 from 5 per cent in 2023.
A garment sector recovery and sustained expansion in other manufacturing exports will back the recovery.
CPI inflation is projected at 2.5 per cent in 2024 and 2.6 per cent in 2025.

The ASEAN+3 Macroeconomic Research Office (AMRO) recently projected Cambodia's economy to robustly grow by 5.6 per cent this year and by 5.9 per cent in 2025 from 5 per cent in 2023.

A recovery in the garment sector, sustained expansion in other manufacturing exports and a tourism rebound will back the recovery, AMRO principal economist Jinho Choi said in a company release.

However, the recovery trajectory is contingent on external risks and domestic vulnerabilities.

The Southeast Asian country's growth is mainly buoyed by garment export, tourism, agriculture, as well as construction and real estate.

Growth in the garment sector is projected to rebound steadily in 2024, driven by stronger demand for consumer goods in major advanced markets, AMRO chief economist Hoe Ee Khor said.

The non-garment sector is also projected to sustain its strong growth momentum, supported by stable foreign direct investment inflows, he added.

Consumer price index-based inflation in the country is projected at 2.5 per cent in 2024 and 2.6 per cent in 2025.

Fibre2Fashion News Desk (DS)

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