Phnom Penh (FN), Oct. 22 – Cambodia’s economy is expected to grow by 4.8% in 2022, which will bring the country's gross domestic product (GDP) to USD 30.5 billion, according to the Ministry of Economy’s draft budget law 2022.

“In 2022, Cambodian economy is projected to grow at 4.8%, an increase of 2.4% compared to 2021. The growth will bring the kingdom’s GDP to USD 30.5 billion dollars, while the GDP per capita is expected to increase to USD 1,842 compared to USD 1,730 in 2021.”

Cambodia's economic growth is driven by key economic sectors such as:

1. The industrial sector is projected to grow by 7.7% in 2022, compared to only 5.7% in 2021, due to better growth in the garment and manufacturing sub-sectors, which is driven by improvement of external demand and the kingdom’s development strategy.

2. The service sector is also projected to grow 4.1% in 2022 due to the gradual recovery of the hotel and restaurant sub-sectors, other tourism sectors, as well as wholesale and retail sectors.

3. The agriculture sector is projected to grow at a slower pace of 1.1% in 2022, compared to 1.4% growth in 2021, due to expected growth of the crop and livestock sub-sectors through the increase of agricultural products export, and the government’s support to promote domestic production.

The Royal Government of Cambodia will implement strategy for economic recovery and growth during COVID19 crisis, along with the implementation of appropriate and timely intervention measures through public financial policy, monetary policy and structural policy in order to maintain socio-economic stability and boost growth.
=FRESH NEWS