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    Cambodia Economy 1998

      Economy - overview After four years of solid macroeconomic performance, Cambodia's economy slowed dramatically in 1997 due to the twin shocks of the regional economic crisis and the July violence and political infighting. Economic growth fell from 6.5% in 1996 to 1.5% in 1997, foreign investment slowed, and tourism declined 16% from 1996 levels. Despite these difficulties, inflation accelerated only slightly to 9.5%; the government managed to keep the national budget in balance even with increased expenditures on the military and police; and the economy ran a small balance of payments surplus. The future payments could be adversely affected by the currency crises in Thailand, Malaysia, and Indonesia, which tends to make Cambodia's exports more expensive at the same time imports from these countries become cheaper. The long-term development of the economy after decades of war remains a daunting challenge. Human resource levels in the population are low, particularly in the poverty-ridden countryside. The almost total lack of basic infrastructure in the countryside will continue to hinder development. Recurring political instability hinders foreign investment. Corruption and inexperience among Cambodia's government officials will serve as a further drag on the economy.

      GDP purchasing power parity - $7.7 billion (1997 est.)

      GDP - real growth rate 1.5% (1997 est.)

      GDP - per capita purchasing power parity - $715 (1997 est.)

      GDP - composition by sector
      agriculture: 47.3%
      industry: 15.4%
      services: 37.3% (1996 est.)

      Inflation rate - consumer price index 9.5% (1997 est.)

      Labor force 2.5 million to 3 million
      by occupation: agriculture 80% (1997 est.)

      Unemployment rate NA%

      revenues: $261 million
      expenditures: $496 million, including capital expenditures of $NA (1995 est.)

      Industries rice milling, fishing, wood and wood products, rubber, cement, gem mining, textiles

      Industrial production growth rate 7% (1995 est.)

      Electricity - capacity 35,000 kW (1995)

      Electricity - production 190 million kWh (1995)

      Electricity - consumption per capita 18 kWh (1995)

      Agriculture - products rice, rubber, corn, vegetables

      total value: $615 million (1996 est.)
      commodities: timber, garments, rubber, soybeans, sesame
      partners: Singapore, Japan, Thailand, Hong Kong, Indonesia, Malaysia, US

      total value: $1 billion (1996 est.)
      commodities: cigarettes, construction materials, petroleum products, machinery, motor vehicles
      partners: Singapore, Vietnam, Japan, Australia, Hong Kong, Indonesia

      Debt - external $2.2 billion (1996 est.)

      Economic aid
      recipient: ODA, $NA
      note: international donors pledged a total of $1.8 billion in 1995 and 1996

      Currency 1 new riel (CR) = 100 sen

      Exchange rates riels (CR) per US$1 - 3,537.0 (January 1998), 2,946.3 (1997), 2,624.1 (1996), 2,450.8 (1995), 2,545.3 (1994), 2,689.0 (1993)

      Fiscal year calendar year

      NOTE: The information regarding Cambodia on this page is re-published from the 1998 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Cambodia Economy 1998 information contained here. All suggestions for corrections of any errors about Cambodia Economy 1998 should be addressed to the CIA.

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    Revised 21-Dec-01
    Copyright © 2001 Photius Coutsoukis (all rights reserved)