PHNOM PENH, Oct. 9 (Xinhua/APP): Cambodia is projected to achieve a 5 percent economic growth in 2025, down from 6 percent in 2024, Permanent Deputy Prime Minister Vongsey Vissoth said here on Thursday.
Speaking during the launch of the National Strategic Development Plan, Vissoth said the slower-than-expected growth was due to the negative impacts of border conflict with Thailand and a 19-percent tariff imposed by the United States on Cambodian exports.
On Aug. 1, the United States imposed the 19-percent tariff on all goods imported from Cambodia.
According to the deputy prime minister, the Southeast Asian country’s GDP per capita is forecast to rise to nearly 3,000 U.S. dollars in 2025, up from 2,713 dollars in 2024 and 2,520 dollars in 2023.
Cambodia’s economy mainly relies on garment, footwear, and travel goods exports, tourism, agriculture, and real estate and construction.
A Ministry of Economy and Finance’s report showed that for 2025, the industrial sector, mainly garment, non-garment manufacturing, and construction, is forecast to grow by 7.1 percent; the service sector, mainly tourism, transport, telecom, trade and real estate, is expected to increase by 3.8 percent; and agriculture is projected to rise by 0.9 percent.