Diversification Key As Garment Sector Comes Under Pressure

April 2008 | Economic Analysis

Following impressively high economic growth in recent years - average annual real GDP expansion was 9.7% between 2002 and 2006, reaching a peak of 13.4% in 2005 - Cambodia's pace of economic expansion is set to slow, as the crucial garment sector of the economy comes under pressure from Vietnam's WTO accession and increased competition from China. However, the other pillars of Cambodia's economy - tourism, construction, and agriculture - look set to help the country to maintain average growth above 7.5% over the 2007-2012 period.

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