Cambodia - Balance of payments



Cambodia's balance-of-payments position showed a deficit every year during the period 1954–74. Payments transactions with other countries virtually ceased under the Pol Pot regime, when China conducted Kampuchea's external financial dealings. From 1979, Kampuchea continued to run a substantial trade deficit, much of which had been financed by grant aid and credits extended by the former USSR and Vietnam. To reduce the current account deficit Cambodia needs to reform its military and civil service. The current account deficit, which stood at 11.5% of GDP in 1999, was mainly financed by official development assistance grants and loans, and foreign direct investment. The country's official reserves at the end of 1999 were able to cover the equivalent of 3.5 months of imports.

In 2000, the country's foreign debt stood at approximately $1.3 billion, the majority of which it owed to Russia; as of that date, it had yet to reach agreement with the Russian Federation on repayment of the debt.

The US Central Intelligence Agency (CIA) reports that in 2000 the purchasing power parity of Cambodia's exports was $1.05 billion while imports totaled $1.4 billion resulting in a trade deficit of $350 million.

The International Monetary Fund (IMF) reports that in 2001 Cambodia had exports of goods totaling $1.38 billion and imports totaling $1.73 billion. The services credit totaled $257 million and debit $244 million. The following table summarizes Cambodia's balance of payments as reported by the IMF for 2001 in millions of US dollars.

Cambodia

Current Account -105
Balance on goods -348
Balance on services 13
Balance on income -43
Current transfers 273
Capital Account 63
Financial Account 75
Direct investment abroad
Direct investment in Cambodia 113
Portfolio investment assets
Portfolio investment liabilities
Other investment assets -103
Other investment liabilities 65
Net Errors and Omissions 39
Reserves and Related Items -73
Also read article about Cambodia from Wikipedia

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sieng sarapech
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Apr 26, 2011 @ 3:03 am
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sophy
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May 6, 2011 @ 4:04 am
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