How has the structure of Cambodia’s GDP changed over the years?
GDP can be determined in three ways, all of which should, in principle, give the same result. They are the production (or output) approach, the income approach, and the expenditure approach. The expenditure approach is summarized in the formula: GDP = C (private consumption) + I (Investment) + G (public consumption) + X (export of goods and services) – M (import of goods and services).
The production approach measures the market value of all final goods and services calculated during the period. It sums up the value add of each production process to avoid double counting. The value-added shares presented in the World Development Indicators for agriculture, industry, and services may not always add up to a hundred percent due to FISIM and net indirect taxes.
Cambodia’s GDP composition
Cambodia’s economy has changed significantly over the past decade. The economy has been in the process of industrialization, with the increasing share of Industry at the expense of Agriculture. The export market largely helps this process, and the Industry sector recovered strongly from the 2008 global crisis and overtook Agriculture for the first time in 2015.