1] (202) 726-7742

Diplomatic representation from the US:
chief of mission: Ambassador Charles Aaron RAY
embassy: 27 EO Street 240, Phnom Penh
mailing address: Box P, APO AP 96546
telephone: [855] (23) 216-436/438
FAX: [855] (23) 216-437/811

Flag description:
three horizontal bands of blue (top), red (double width), and blue
with a white three-towered temple representing Angkor Wat outlined
in black in the center of the red band; only national flag to
incorporate a building in its design

Economy Cambodia

Economy - overview:
Cambodia's economy slowed dramatically in 1997-1998 due to the
regional economic crisis, civil violence, and political infighting.
Foreign investment and tourism fell off. In 1999, the first full
year of peace in 30 years, progress was made on economic reforms.
Growth resumed and has remained about 5.0% during 2000-2003. Tourism
was Cambodia's fastest growing industry, with arrivals up 34% in
2000 and up another 40% in 2001 before the 11 September 2001
terrorist attacks in the US. Cambodia expects 1 million foreign
tourists in 2004. Economic growth has been largely driven by
expansion in the clothing sector and tourism. Clothing exports were
fostered by the U.S.-Cambodian Bilateral Textile Agreement signed in
1999. Even given Cambodia's recent growth, the long-term development
of the economy after decades of war remains a daunting challenge.
The population lacks education and productive skills, particularly
in the poverty-ridden countryside, which suffers from an almost
total lack of basic infrastructure. Fear of renewed political
instability and a dysfunctional legal system coupled with government
corruption discourage foreign investment. The Cambodian government
continues to work with bilateral and multilateral donors to address
the country's many pressing needs. The major economic challenge for
Cambodia over the next decade will be fashioning an economic
environment in which the private sector can create enough jobs to
handle Cambodia's demographic imbalance. About 60% of the population
is 20 years or younger; most of these citizens will seek to enter
the workforce over the course of the next 10 years.

GDP:
purchasing power parity - $25.02 billion (2003 est.)

GDP - real growth rate:
5% (2003 est.)

GDP - per capita:
purchasing power parity - $1,900 (2003 est.)

GDP - composition by sector:
agricultu