- Population: 15.8 million
- GDP growth: 7% (2016)
- GDP: US$19.4 billion (2016)
- GDP per capita: US$1,229.60 (2016)
- Ease of doing business: 131 of 190 (2017)
The Cambodian economy is growing rapidly, driven by garment manufacturing, tourism, and construction. Natural resource sectors such as mining and hydropower have bolstered economic growth over the last decade, but current government policies are focused on diversification, including tourism and other service sectors. Tourism to Cambodia has more than doubled since 2007, topping five million visitors in 2016.19 Investment laws and regulations, revised in 2016, allow foreigners to invest freely in many areas.
Cambodia is a member of the World Trade Organization and has a relatively open trading system. While non-agriculture sectors are creating more new jobs and boosting incomes, most Cambodians still rely on farming to varying degrees. However, agriculture only provides 27 per cent of the nation's GDP due to a large reliance on subsistence farming, particularly in the rice sector.
Cambodia's location at the heart of the Mekong creates opportunities as a niche investment location linking into Vietnam or Thai-based supply chains.
Cambodia's relatively stable, high-growth path is supported by encouraging demographic trends, improving education levels, and a growing middle class. Australia is well placed to meet demand for quality education services, financial and professional services, and agricultural produce.