The Central Bank of Cambodia stated in its latest outlook that Cambodia is expected to recover rapidly from the Covid-19 pandemic during 2022, thanks to improved exports of clothing and non-apparel products, electronic components and bicycles, which will strengthen Cambodia’s Diversified exports.Quoted new year Khmer Times.
According to the report, overall, gross domestic product (GDP) is expected to grow by about 5% in 2022.
The National Bank of Cambodia pointed out in the report that, supported by increased domestic income and investment inflows into Cambodia, the construction and real estate industries are also expected to grow, albeit slowly. The agricultural sector, which accounts for nearly one-third of the country’s total labor force, is expected to recover from the slowdown in 2021 due to increased demand.
In addition, the entry into force of the Cambodia-China and Cambodia-Korea Free Trade Agreements will “continue to increase the potential of the agricultural sector,” especially in agricultural products processing and agro-industries.
RCEP trade agreement comes into force
In addition, the Regional Comprehensive Economic Partnership Agreement (RCEP) signed by the ten member states of the Association of Southeast Asian Nations and free trade partners Australia, New Zealand, China, South Korea and Japan came into effect on January 1. Trade, investment and e-commerce provide opportunities.
With the gradual reopening of the economy, domestic economic activities including wholesale, retail, telecommunications and transportation, and domestic tourism are expected to grow steadily, while international tourism may also increase, but it will only gradually recover. It will take time and energy to recover. Wait Around the development of the new Covid-19 virus variant Omicron.
Relatively low inflation rate in 2022
Naturally, the recovery of the tourism industry will have a positive impact on the hotel and catering industry and related services. In addition, the Central Bank’s report states that the return of Cambodian overseas workers who have received training and experience abroad will help increase productivity and domestic production.
Due to slower growth in the food sector, improved supplies, and slower prices of fuel-dependent goods and services, Cambodia’s overall inflation rate in 2022 is expected to be 2.6%. The National Bank of Cambodia stated that the official exchange rate will stabilize at around 4,075 riels per dollar this year.
The Central Bank of Cambodia stated in its latest outlook that Cambodia is expected to recover rapidly from the Covid-19 pandemic during 2022, thanks to improved exports of clothing and non-apparel products, electronic components and bicycles, which will strengthen Cambodia’s Diversified exports. The New Year quoted by the Khmer Times. According to the report, overall, gross domestic product (GDP) is expected to grow by about 5% in 2022. The National Bank of Cambodia pointed out in the report that the construction and real estate industries are also expected to grow, albeit slowly, with the support of increased domestic income and investment inflows into Cambodia.
The Central Bank of Cambodia stated in its latest outlook that Cambodia is expected to recover rapidly from the Covid-19 pandemic during 2022, thanks to improved exports of clothing and non-apparel products, electronic components and bicycles, which will strengthen Cambodia’s Diversified exports.Quoted new year Khmer Times.
According to the report, overall, gross domestic product (GDP) is expected to grow by about 5% in 2022.
The National Bank of Cambodia pointed out in the report that, supported by increased domestic income and investment inflows into Cambodia, the construction and real estate industries are also expected to grow, albeit slowly. The agricultural sector, which accounts for nearly one-third of the country’s total labor force, is expected to recover from the slowdown in 2021 due to increased demand.
In addition, the entry into force of the Cambodia-China and Cambodia-Korea Free Trade Agreements will “continue to increase the potential of the agricultural sector,” especially in agricultural products processing and agro-industries.
RCEP trade agreement comes into force
In addition, the Regional Comprehensive Economic Partnership Agreement (RCEP) signed by the ten member states of the Association of Southeast Asian Nations and free trade partners Australia, New Zealand, China, South Korea and Japan came into effect on January 1. Trade, investment and e-commerce provide opportunities.
With the gradual reopening of the economy, domestic economic activities including wholesale, retail, telecommunications and transportation, and domestic tourism are expected to grow steadily, while international tourism may also increase, but it will only gradually recover. It will take time and energy to recover. Wait Around the development of the new Covid-19 virus variant Omicron.
Relatively low inflation rate in 2022
Naturally, the recovery of the tourism industry will have a positive impact on the hotel and catering industry and related services. In addition, the Central Bank’s report states that the return of Cambodian overseas workers who have received training and experience abroad will help increase productivity and domestic production.
Due to slower growth in the food sector, improved supplies, and slower prices of fuel-dependent goods and services, Cambodia’s overall inflation rate in 2022 is expected to be 2.6%. The National Bank of Cambodia stated that the official exchange rate will stabilize at around 4,075 riels per dollar this year.
