Concept

Economy of Cambodia

Summary
The economy of Cambodia (សេដ្ឋកិច្ចនៃកម្ពុជា setʰakəc nəj kampuciə) currently follows an open market system (market economy) and has seen rapid economic progress in the last decade. Cambodia had a GDP of $28.54 billion in 2022. Per capita income, although rapidly increasing, is low compared with most neighboring countries. Cambodia's two largest industries are textiles and tourism, while agricultural activities remain the main source of income for many Cambodians living in rural areas. The service sector is heavily concentrated on trading activities and catering-related services. Recently, Cambodia has reported that oil and natural gas reserves have been found off-shore. In 1995, with a GDP of $2.92 billion the government transformed the country's economic system from a planned economy to its present market-driven system. Following those changes, growth was estimated at a value of 7% while inflation dropped from 26% in 1994 to only 6% in 1995. Imports increased due to the influx of
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