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Cambodia's economy to accelerate in 2022 and 2023, with strong merchandise export and foreign direct investment inflow. (Source: ADB)“Cambodia’s growth rebounded to an estimated 3.0% in 2021 after a contraction of 3.1% in 2020. The government has implemented policies to mitigate the negative impact of COVID-19 on businesses and people’s incomes and to support economic recovery. Widespread vaccination against COVID-19 has enabled the country to reopen its borders for trade and tourism, leading to positive economic prospects for this year and 2023,” said ADB Acting Country Director Anthony Gill.According to the Asian Development Outlook (ADO) 2022, industry output is expected to grow by 8.1% in 2022 and 9.1% in 2023. This growth will also be buoyed by the implementation of the Garments, Footwear, and Travel Goods Development Strategy to raise competitiveness in this segment.Goods and services exports are forecast to grow in 2022 and 2023 on strong external demand for Cambodia
Cambodia’s economy is forecast to grow 5.3% in 2022 and 6.5% in 2023, thanks to strong merchandise exports and foreign direct investment inflows, according to an Asian Development Bank (ADB) report.