Cambodia Targets 5% Economic Growth in 2025: Deputy PM. Cambodia’s economy is projected to grow by 5 percent in 2025, a slight decrease from 6 percent in 2024, according to Permanent Deputy Prime Minister Vongsey Vissoth.
Speaking at the official launch of the National Strategic Development Plan on Thursday, Vissoth explained that the slower pace of growth is linked to external pressures, notably, the ongoing border tension with Thailand and the 19-percent tariff recently imposed by the United States on Cambodian exports.
“On Aug. 1, the United States imposed a 19 per cent tariff on all goods imported from Cambodia,” he noted, emphasizing how such trade measures have dampened the nation’s economic momentum.
Despite these challenges, Cambodia’s GDP per capita is expected to increase from $2,520 in 2023 to $2,713 in 2024, reaching nearly $3,000 by 2025.
The deputy prime minister reaffirmed that the economy’s main drivers remain consistent — garment, footwear, and travel goods exports, along with tourism, agriculture, real estate, and construction.
A report by the Ministry of Economy and Finance projects that in 2025, the industrial sector (including garments, non-garment manufacturing, and construction) will expand by 7.1 percent. The service sector, covering tourism, transport, telecommunications, trade, and real estate, is expected to grow by 3.8 percent, while agriculture is set to rise by 0.9 percent.
Source: Xinhua