The agricultural industry is on track to account for 32 per cent of Cambodia’s gross domestic product (GDP) by the end of the year as more of the Kingdom’s workforce moves into the sector, Royal Academy of Cambodia economics researcher Ky Sereyvath has said.
Without citing official figures, Sereyvath predicted that the agricultural labour force had ballooned between 30 and 40 per cent during the span of the Covid-19 crisis.
He said: “The growth of the agricultural sector is due to the fact that some of the remaining labour force from the services sector turned to agriculture, with the workforce integration leading to a larger production volume.”
The industrial sector is “set to grow around 36 per cent”, while the services sector as a whole “may shrink between 28 and 30 per cent”, he said, without specifying a timeframe. Domestic tourism services and online food delivery services should enjoy moderate growth.
Sereyvath said: “The food processing industry, fruit and vegetable processing are prominent sub-sectors – the top segments after garments. Pepper, mango, fish and meat processing will all absorb a greater market share.”
https://www.phnompenhpost.com/business/agriculture-share-kingdoms-gdp-track-hit-32-cent