Cambodia Emerges as 14th among the Fastest Growing Economies

• 20 April 2023
• Local News
• 2325 Views

Cambodia has been ranked 14th among the fastest-growing economies in the world with a growth percentage change of 5.8%, according to a recent report published on Finance.yahoo website on 15 April 2023.

“The country’s GDP has increased significantly from $26.96 billion in 2021 to $75 billion in purchasing power parity terms by the end of 2022,” the website reported.

The report suggests that Cambodia has demonstrated promising signs of economic recovery post-pandemic, with the traditional growth drivers such as manufacturing and agricultural commodity exports rebounding strongly. This growth is attributed to Cambodia’s sound macroeconomic management, stable political environment, and strong reform initiatives.

The report also highlights that two other ASEAN countries, Vietnam and the Philippines, are ranked among the fastest-growing economies this year, with Vietnam ranking 15th with a growth percentage change of 5.8%, and the Philippines ranking 12th with a growth percentage change of 6%.

This report is a positive reflection of Cambodia’s economic strength and its potential for continued growth. With its stable political environment and strong reform initiatives, the country is poised to attract more foreign investment, which will further strengthen its economy and benefit its real estate sector.

• Economy and Finance