The Cambodian economy grew 7.5 percent in 2018, according to the World Bank’s Cambodia Economic Update, released today. This better-than-expected growth was driven largely by the rapid expansion of exports and ongoing construction boom.
Exports of garments, footwear and travel goods — which account for more than two-thirds of total merchandise exports—recorded a five-year high, rising by 17.6 percent in 2018, up from 8.3 percent in 2017. The construction, real estate, and tourism sectors accounted for about 60 percent of total approved investment in 2018. To support the construction boom, manufacturing of building materials, furniture metals, and plastic products also increased rapidly.