Economy of Cambodia

Common card · No. 304449

Cambodia's economy currently follows an open market system (market economy) and has seen rapid economic progress in the last decade. Cambodia's two largest industries are textiles and tourism, while agricultural activities remain the main source of income for many Cambodians living in rural areas. The service sector is heavily concentrated on trading activities and catering-related services. Recently, Cambodia has reported that oil and natural gas reserves have been found offshore. In recent years, illicit economic activities like cyber scam center operations have become an increasingly prominent of Cambodia's economy, representing as much as 40% of Cambodia's official GDP in 2024. In 1995, with a GDP of $2.92 billion the Cambodian government transformed the country's economic system from a planned economy to its present market-driven system. Following those changes, growth was estimated at a value of 7% while inflation dropped from 26% in 1994 to only 6% in 1995. Imports increased due...

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