Asian Development Bank and Cambodia: Fact Sheet

Abstract

Updated yearly, this ADB Fact Sheet provides social and economic indicators on the Cambodia as well as concise information on ADB's operations in the country and contact information. Cambodia has made great strides since 1991, when more than 2 decades of isolation and conflict ended and priorities turned to ensuring peace and security, rebuilding institutions, establishing a stable macroeconomic environment, and putting in place a liberal investment regime. Gross domestic product (GDP) growth has been robust at nearly 9% over the last 10 years. While the incidence of poverty has declined from 34.7% in 2004 to around 30% in 2007, it remains high. Recent economic growth—narrowly concentrated on the garment, tourism, and construction industries—is urban-focused, with limited linkage to the rural economy, where 91% of the poor live. This has led to a rapid increase in inequality over the past decade. Looking forward, continuing weaknesses in garments, tourism, and construction are forecast to reduce GDP growth sharply in 2009 and 2010. This deceleration threatens to undermine the steady gains made to reduce poverty. There is a pressing need to diversify the economy to enable the rural poor to contribute to, and benefit from, economic growth. The Government has drawn up a comprehensive reform agenda aimed at achieving the Millennium Development Goals (MDGs), which is embedded in its National Strategic Development Plan (NSDP) 2006–2010. Achieving the MDG targets related to human development remains a challenge.