Cambodians income rose four times in two decades

Cambodians income rose four times in two decades

The Cambodia Herald – 24-08-2013

 PHNOM PENH - Cambodia’s per capita income increased four times in two decades since the Kingdom held its first United Nations supported democratic election in 1993, according to a report from Cambodia’s Development and Research Institute.

In 1993, the country's per capita income was only $240 USD per year, however in 2013 Cambodians are expected to receive $1,000 USD per year, the CDRI said in its 2012-2013 development review report.

"If a GDP growth rate of 7.5 percent is maintained over the next 17 years, by 2030 Cambodia’s per capita income will likely be higher than $2,800 USD – close to tripling the country’s per capita income," the report added.

At that level, Cambodia’s per capita income in 2030 would be similar to what Indonesia had attained by 2010. On the other hand, if a higher growth rate of 8.5 percent is achieved, per capita income in 2030 could reach around $3,300 USD - comparable to what Indonesia obtained in 2011.

The 2012 CDRI report calculated Cambodia’s per capita income trajectory, using three GDP growth scenarios for the period from 2010 to 2030: (i) a high growth scenario of 9 percent, (ii) a moderate growth scenario of 7 percent, and (iii) a low growth scenario of 5 percent (Strange et al. 2012).

Reworking the per capita income trajectory under these scenarios using the 2013 per capita income of $1,000 USD as the base, yields a 2030 per capita income of $3,600 USD in the high growth scenario, $2,600 USD in the moderate growth scenario, and $1,900 USD in the low growth scenario.