Cambodian Senior Minister and Minister of Commerce H.E. Cham Prasidh yesterday said Cambodia’s Gross Domestic Product is expected to grow over 8% this year, according to Agence Kampuchea de Press.
Speaking at the press conference at the 17th Greater Mekong Sub-region Ministerial Conference, H.E. Cham Prasidh said garment exports, tourism, agriculture and real estate are expected strong growth this year.
“Cambodia’s economic growth has recovered since 0.1% in 2009 to 5.8% in 2010 and I believe that it will grow over 8% this year”, he said.
The garment exports expect to grow more than 40%, shoe 80%, tourism industry up 20% and agriculture is going well, so the country’s economic growth this year will be over 8 percent, he said.
According to H.E. Minister, the real estate and construction sector started recovering this year after the global financial crisis since 2008.
Last month, Economic Institute of Cambodia (EIC) said Cambodia’s GDP is projected to grow 8.7%. Textile and garment was predicted to growth 21.1% and the export value in the first four month grew 44%.
Industrial sector, especially food manufacturing are predicted to grow 15.8%, agriculture is 4.1%, service sector is 6.9%, tourists arrival rebound dramatically, fishery 0.7%, construction is 1.9%, and real estate is 1.3%.