Cambodia Growth Expected at 7%

Cambodia’s economic growth is expected at 7% in 2017, driven by garment export, construction, tourism and agriculture, a National Bank of Cambodia expert said on Friday, Xinhua reported. With the expected growth, the country’s gross domestic product will reach about $22 billion, as the GDP per capita is forecast to hit $1,434 this year, Duong Sophak, deputy chief of the NBC’s Economic Research and International Cooperation Division, said during a seminar in Phnom Penh. “Industry (mainly garment and construction) and service sector (tourism, transport and telecom, trade and real estate) will significantly contribute to the economic growth, as agriculture will see a marginal contribution to the growth,” he said. Sophak said garment export and construction were forecast to grow by 10% and 14% respectively in 2017, as tourism was projected to see strong growth based on the 12% rise in tourist arrivals during the first four months of this year.