Cambodia’s economy held firm during H1 2019 despite the geopolitical climate continuing to weigh down on global market sentiment and the strengthening of the USD.
According to the National Bank of Cambodia (NBC), the Kingdom is on track to achieve GDP growth of 7.1% during 2019. This is in line with the Asian Development Bank, which forecasts Cambodia to record the highest GDP growth within ASEAN (figure 1) at 7.0% during 2019.
The NBC’s bi-annual report states that GDP growth will be supported by the strong performance of the construction, real estate and tourism sectors, whilst the contribution from agriculture will continue to decline.
Data compiled by the Council for the Development of Cambodia indicates that US$5.2 billion worth of investment flowed into the Kingdom during the first half of 2019, a 46% increase compared with the same period during 2018.