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Cambodia's economy projected to grow 5.4% in 2023: OECD report

05 Apr '23
1 min read
Pic: Shutterstock
Pic: Shutterstock

Insights

  • Cambodia's economy is set to grow by 5.4 per cent in 2023, following an estimated 5.1 per cent growth in 2022, due to a recovery in manufacturing.
  • OECD's report states that de-dollarising the economy efforts are ongoing, and Cambodia's economy is expected to grow 0.8 per cent higher than the average ASEAN GDP growth rate, projected at 4.6 per cent in 2023.
Cambodia's economy is projected to grow by 5.4 per cent in 2023, following an estimated 5.1 per cent growth in 2022, according to a report by the Organisation for Economic Co-operation and Development (OECD). Manufacturing played a crucial role in the country's recovery.

Cambodia's economy is expected to grow 0.8 per cent higher than the average growth rate of the real gross domestic product (GDP) among the member states of the Association of Southeast Asia Nations (ASEAN), which is forecast at 4.6 per cent in 2023. Furthermore, the country's GDP growth will increase to 5.9 per cent in 2024, OECD’s Economic Outlook for Southeast Asia, China and India projected.

Efforts to de-dollarise the economy are also underway, Cambodian media reports said quoting the report.

Fibre2Fashion News Desk (DP)

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