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Industry Update

Cambodian Growth Prospects Are Firming Up As Energy Needs Increase

Cambodian Growth Prospects Are Firming Up As Energy Needs Increase

 

Last month the Asian Development Bank (ADB) maintained its economic growth forecast for Cambodia. According to the ADB, Cambodian Gross Domestic Product (GDP) is expected to rise 7.2% in 2013 and up to 7.5% in 2014. The special trade preference scheme in conjunction with the European Union importing products from Cambodia duty-free and quota-free, can partly explain this positive outlook. Although the Garment industry accounted for nearly 90% of Cambodian exports in 2011, it is no longer the only industry to support Cambodian exports.