Cambodia's gross domestic product (GDP) is expected to reach US$35 billion in 2024, according to the Ministry of Finance and Economics**.
According to the Ministry of Finance and Economics' Secretary of State Pampala, Cambodia's per capita GDP will reach $2,071 in 2024, compared to $1,917 in 2023.
Pampala said that given the global geopolitical tensions and the economic slowdown in many countries, the International Monetary Fund expects Cambodia's economic growth rate to be 6.0 this year1%, while Cambodia expects economic growth to be 66%。
He said the non-apparel sector is growing, and tourism is also growing and is expected to return to pre-pandemic levels. As the apparel industry continues to grow, tourism is expected to grow with it. The apparel industry has also recovered sharply recently, with garment exports exceeding the total of the same period last year in January this year.
He also noted that export orders have increased significantly this year, with a recovery in the non-garment and agriculture sectors, while Cambodia's FDI has risen, mainly from Chinese investment.
The International Monetary Organization expects the global economy to grow by 31%, which is similar to last year's increase. In 2025, the global economy is expected to rise by 32%, global inflation will reach 44%, compared to 5 in 20248% and 6 in 20238%。
It should be mentioned that previously the organization increased the economic growth rate of Asia from 42% to 45%。