PHNOM PENH (Bernama-Xinhua): Cambodia is projected to achieve a 5 per cent economic growth in 2025, down from 6 per cent in 2024, Permanent Deputy Prime Minister Vongsey Vissoth has announced.
Speaking during the launch of the National Strategic Development Plan, Vissoth said the slower-than-expected growth was due to the negative impacts of border conflict with Thailand and a 19 per cent tariff imposed by the United States on Cambodian exports.
On Aug 1, the United States imposed a 19 per cent tariff on all goods imported from Cambodia.
According to the deputy prime minister, the Southeast Asian country's GDP per capita is forecast to rise to nearly US$3,000 in 2025, up from US$2,713 in 2024 and US$2,520 in 2023.
Cambodia's economy mainly relies on garment, footwear, and travel goods exports, tourism, agriculture, and real estate and construction.
A Ministry of Economy and Finance's report showed that for 2025, the industrial sector, mainly garment, non-garment manufacturing, and construction, is forecast to grow by 7.1 per cent; the service sector, mainly tourism, transport, telecom, trade and real estate, is expected to increase by 3.8 per cent; and agriculture is projected to rise by 0.9 per cent. - Bernama-Xinhua
