Cambodia Industry Sectors

The Cambodian economy grew at a rate of 10% between 2004 and 2007. This was mainly driven by industries such as garment, tourism construction and agriculture. Some other major contributors to the gross domestic product in the Cambodia industry sectors beverages, food and beverage, and wood processing.[br] 

The Cambodian economy grew at a rate of 10% between 2004 and 2007. This was mainly driven by industries such as garment, tourism construction and agriculture. Some other major contributors to the gross domestic product in the Cambodia industry sectors beverages, food and beverage, and wood processing.[br] 

Cambodia Industry Sectors: Major Industries

The following are the major industrial sectors in Cambodia:

 

Agriculture Industry: With 59% of the Cambodian population engaged in agriculture, this is the primary industry of the country. Rice is the principal food crop, while rubber is the principal commercial crop in Cambodia. Many international aid organizations are supporting farmers through crop diversification programs to cultivate other crops. Agriculture sector contributed 29% of the country’s GDP in 2007.

 

Tourism Industry: Tourism has been the second largest source of foreign exchange for Cambodia for decades after textile. The industry saw a setback in 1997-98 due to internal troubles in the country. However, the number of visitors rose to 1,055,000 in 2004, from 219,000 in 1997. In 2008, 2 million foreign tourists arrived in Cambodia, which was 5.5% more than the 2007 level. The major tourist destinations in the country are Siem Reap, Phnom Penh, Sihanoukville, Kampot and Kep. The tourism industry fell by 2% in early 2009. The Cambodian government is seeking help from the US to give a boost to its tourism sector.

 

Garment industry: Traditionally, Cambodia’s garment industry has been the biggest foreign exchange earner. According to Cambodia’s Ministry of Commerce, the global economic downturn had a huge impact on this sector. The value of garments exported in January 2009 fell to US$70 million from $250 million in January 2008. During 2008-09, Cambodia had to shut down over 30 garment factories due to recession and lay off more than 30,000 laborers in the garment industry. In 2008, the country imported raw material worth US$1 billion, as revealed by the Garment Manufacturers Association of Cambodia. The government is taking steps to cut costs by encouraging local production and improving access to the Western markets.[br]

 

Mineral Industry: In 2005, Cambodia attracted immense foreign investment due to new found reserves of oil, bauxite, gold, iron and gems. Major investors were the US, Thailand, Australia, South Korea and China. Unfortunately, its mineral resources remained unexplored to a great extent in 2006. Moreover, commodity prices plunged in the late 2000s due to economic depression putting a impeding the nascent mining industry of the country.