https://www.confiduss.com/en/jurisdictions/cambodia/economy/ Economy of Cambodia

03.05.2023 18:47
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Cambodia is considered a developing country. A nation's stage of development is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality and quality of life. As a developing country, Cambodia may not be able to provide consistent social services to its citizens. These social services can include things like public education, reliable health care, and law enforcement. Citizens of developing countries can have a lower life expectancy than citizens of developed countries. Cambodia exports about US$6.78 billion and imports about US$8.9 billion each year. 0.2% of the country's population is unemployed. The total number of unemployed in Cambodia is 32,491. In Cambodia, 17.7% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Cambodia is quite high, but not a cause for complete concern in terms of investment. Potential lenders should look at other economic indicators, including GDP, the rate of urbanization and the strength of the currency, before making investment decisions. Government spending on education is 2.1% of GDP. The country's Gini index is 37.9. Cambodia is experiencing good equality. The majority of citizens in Cambodia fall within a narrow income bracket, although some cases can show significant disparities. Cambodia has a Human Development Index (HDI) of 0.584. Cambodia has an upper middle HDI score. This suggests that the majority of citizens will be able to lead a desirable life, although some citizens will not be able to attain a high standard of living. The Global Peace Index (GPI) for Cambodia is 2,179. The Index of Strength of Legal Rights for Cambodia is 11. Overall it is considered quite strong – bankruptcy and collateral laws can protect the rights of borrowers and lenders quite well; Credit information is plentiful and easily accessible.

Currency
The currency of Cambodia is Cambodian riel. The plural form of the word Cambodian riel is riels. The symbol used for this currency is ៛ and is abbreviated as KHR. The Cambodian riel is divided into sen; There are 100 in a riel.

Credit rating
The creditworthiness depth index for Cambodia is 5, which means that the information is usually sufficient and easily accessible, although occasionally some necessary details may be missing. According to the rating agency S&P, Cambodia has a credit rating score of B and the prospects for this rating are stable. According to the rating agency Moody's, Cambodia has a credit rating score of B2 and the prospects for this rating are stable.

Central bank
The Cambodian commercial bank rate is 12.6. In Cambodia, the institution that manages the government's currency, money supply, and interest rates is called the National Bank of Cambodia. Locally, the Central Bank of Cambodia is called ធនាគារជាតិ នៃ កម្ពុជា. The average interest rate on deposits offered by local banks in Cambodia is 1.4%.

National debt
Cambodia has a public debt of 33.7% of the country's gross domestic product (GDP) as estimated in 2012.

Control information
Corporate tax in Cambodia is 20%. Personal income tax ranges from 0% to 20% depending on your specific situation and income level. VAT in Cambodia is 10%.


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