16:30 | 26/06/2017 Global Economy
Cambodia's economic growth is expected to hit 7 percent in 2017 mainly driven by garment exports, construction, tourism and agriculture, said an official of the National Bank of Cambodia (NBC) on June 23.
|Cambodia's economic growth is expected to hit 7 percent in 2017 - Source: adb.org|
With the expected growth, Cambodia’s gross domestic product (GDP) will reach about 22 billion USD, as the GDP per capita is forecast to hit 1,434 USD this year, said Duong Sophak, deputy chief of the NBC's Economic Research and International Cooperation Division.
According to the official, industry (mainly garment and construction) and service sector (tourism, transport and telecom, trade and real estate) will significantly contribute to the country’s economic growth, as agriculture will see a marginal contribution to the growth.
Sophak said Cambodia’s garment export and construction are forecast to grow by 10 percent and 14 percent, respectively, in 2017, as tourism is projected to see strong growth based on the 12-percent rise in tourist arrivals during the first four months of this year.
NBC's statistics showed that Cambodia had achieved robust economic growth of 7.7 percent annually in the last two decades, coupled with low and manageable inflation as well as stable exchange rate.