Cambodia’s GDP growth will slow to 6.7% in 2019: Fitch Solutions

The EU’s withdrawal of trade privileges in the country will hit the manufacturing sector.

Cambodia’s GDP is expected to slow down to 6.7% in 2019 and 6.2% in 2020 as growth in the manufacturing sector will gradually weaken amidst a loss of preferential trade access to the European Union by H2 2020, according to Fitch Solutions.

The manufacturing sector, which comprises 16.3% of GDP, is seen to experience downfalls due to slowing external demand and the EU’s withdrawal of the country’s Everything but Arms (EBA) trade privileges owing to a “deterioration of democracy” and “respect for human rights” in February this year, with a final decision due on February 2020.

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