Information about Asia and the Pacific Asia y el Pacífico
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Cambodia

Author(s):
International Monetary Fund
Published Date:
November 1995
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Information about Asia and the Pacific Asia y el Pacífico
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Table 1.Cambodia: Gross Domestic Product by Sector (at Constant Prices), 1989–94
198919901991199219931994
Rev.Prel.
ActualActual
(In billions of riel at 1989 prices)
Agriculture125.9127.4135.9138.5137.1137.0
Crops and rubber78.274.079.379.077.270.9
Rice511.149.647.646.748.238.6
Other crops and rubber27.124.431.732.329.032.3
Livestock32.334.134.536.938.039.5
Fishing9.412.413.512.712.011.8
Forestry6.06.98.69.99.914.9
Industry37.136.339.545.751.755.7
Mining and quarrying2.52.83.03.23.43.7
Manufacturing18.017.218.419.020.522.1
Electricity and water0.60.50.50.60.70.7
Construction16.015.817.622.927.129.1
Services77.980.086.896.4103.3111.0
Transportation and
communications6.56.47.08.18.99.7
Wholesale and retail trade31.230.534.439.942.344.8
Hotels and restaurants0.40.71.01.21.41.7
Government, education, and
health9.311.011.011.011.512.5
Home ownership15.515.916.317.418.820.3
Other15.015. 517.118.820.422.1
GDP240.9243.7262.2280.6292.1303.7
(Percentage change)
Memorandum items:
Agriculture7.11.26.71.9l.0
Industry1.6-2.28.815.613.07.7
Services-1.12.78.511.27.27.4
GDP3.51.27.67.04.14.0
Sources: Data provided by the Cambodian authorities; and staff estimates.
Sources: Data provided by the Cambodian authorities; and staff estimates.
Table 2.Cambodia: Gross Domestic Product by Sector (at Current Prices), 1989–94
198919901991199219931994
Rev.Prel.
ActualActual
(In billions of riel at current prices)
Agriculture125.9333.1666.41.198.32.742.03.139.6
Crops and rubber78.2194.7300.0521.41,724.01,852.5
Rice51.1103.4139.0236.31,017.1961.2
Other crops and rubber27.191.3161.0285.1706.8891.3
Livestock32.389.3224.5416.8677.9803.3
Fishing9.428.263.5103.6140.1157.6
Forestry6.020.978.4156.5200.0326.1
Industry37.166.8161.7330.0743.3853.2
Mining and quarrying2.53.14.78.516.217.5
Manufacturing18.031.471.0126.9285.5324.9
Electricity and water0.62.27.016.338.543.5
Construction16.030.179.0178.2403.1467.2
Services77.9198.7507.9979.81.928.72.138.2
Transportation and
communications6.522.543.286.1173.1195.4
Wholesale and retail trade31.265.2195.6393.8787.6878.4
Hotels and restaurants0.21.95.712.824.430.6
Government, education,
and health9.328.362.5108.4216.0232.2
Home ownership15.540.992.8172.2311.6335.9
Other15.039.9108.1206.4416.1465.8
GDP240.9598.61.335.92.508.05.414.06.131.0
(Percentage change)
Memorandum items:
Nominal GDP23.2148.5123.287.8115.913.2
Real GDP3.51.27.67.04.14.0
GDP Deflator19.0145.6107.475.5107.48.9
Sources: Data provided by the Cambodian authorities; and staff estimates.
Sources: Data provided by the Cambodian authorities; and staff estimates.
Table 3.Cambodia: Supply and Use of Resources, 1989–1994
198919901991199219931994
RevisedPreliminary
EstimatesActual
(In billions of riels at current prices)
Aggregate expenditure2666491414270263037628
Consumption2325851231232950535795
Private2145421132209146805111
Public194399239373684
Investment26491252457771194
Private2342120238541858
Public4757235335
Exports of goods and71557127474697
nonfactor services
(retained)
Aggegate resources2666491414270263037628
Gross domestic product2415991336250854146131
Imports of goods and2550781948891497
nonfactor services
(retained)
(As ratios of GDP)
Memorandum items:
Consumption96.497.792.292.993.394.6
Private88.790.584.883.486.483.4
Public7.77.27.49.56.911.2
Investment11.08.39.49.814.319.5
Private9.57.19.09.510.014.0
Public1.51.20.40.34.35.5
Exports of goods and3.02.44.35.18.80.4
nonfactor services
(retained)
Imports of goods and-10.3-8,4-5.8-7.7-16.4-24.4
nonfactor services
(retained)
Total100.0100.0100.0100.0100.0100.0
Sources: Data provided by the Cambodian authorities; and staff estimates.
Sources: Data provided by the Cambodian authorities; and staff estimates.
Table 4.Cambodia: Agricultural Production, 1988–94
1988198919901991199219931994
RevisedPreliminar
EstimateActual
(In thousands of metric tons)
Crops
Rice2,519.82,573 02,473.52,400.02,350.02,384.01,907.0
Corn44.753.753.860.060.045.745.5
Cassava63.957.855.746.048.984.9
Sweet potatoes35.924.134.239.244.474.457.1
Mung beans22.117.213.412.517.412.213 0
Soybeans12 0. 20 022.034.924.812 819 3
Sugarcane153 1244 7159.3145.1167.5145 3126 0
Tobacco6 06 010.48.87.68 58 7
Rubber31 034 035.035.028.022 327 0
Logs (in thousands
of cubic meters) 1/282 6244 8257.4321.5369.778 228 7
(In thousands of head)
Livestock
Cows and buffalo2,600.02,837.03,017.03,012.03,272.03,502.03,607.0
Pigs1,540 41,658 01,514.51,588.81,780.02,123 02,330 0
Poultry8,845 07,631 08,162.98,814.68,800.010,696 012,993 0
(In thousands of metric tons)
Fishery
Freshwater fish61.250.565.174.768.967.965.0
Marine fish21.026.139.936.433.733.130.0
Fish culture4.65.56.46.78.67.98.2
Sources: Data provided by the Cambodian authorities; and staff estimates.

Officially recorded.

Sources: Data provided by the Cambodian authorities; and staff estimates.

Officially recorded.

Table 5.Cambodia: Agricultural Production, Historical Comparison(In thousands of metric tons)
1963-6719931994PercentagePercentage
AverageChangeChange
(A)(B)(C)(B) / (A)(C) /(A)
Rice2,650. 82,384.01,907-10.1-28.1
Rubber47.932.027.0-33.2-43.6
Corn132.060.045.7-54.5-65.4
Tobacco10.010.08.7-15.3-13.0
Sesame9.0
Sources: Banque Nationale du Cambodge, Rapport Annuel, 1967; Ministere du Plan, Direction de la Statistique et des Etudes Economiques, Annuaire Statistique du Cambodge, 1968: data provided by the Cambodian authorities; and staff estimates.
Sources: Banque Nationale du Cambodge, Rapport Annuel, 1967; Ministere du Plan, Direction de la Statistique et des Etudes Economiques, Annuaire Statistique du Cambodge, 1968: data provided by the Cambodian authorities; and staff estimates.
Table 6.Cambodia: Summary of Budgetary Operations, 1989–94
198919901991199219931994
Preliminary
Actual
(In billions of riel)
Revenue15.323.358.8156.1290.1590.4
Tax6.213.331.1109.7234.1364.6
Customs duties1.98.822.079.3172.4280.9
Other taxes4.34.59.130.461.783.7
Nontax9.210.027.846.356.0225.8
Forestry1.43.9100.8
Other9.210.027.844.952.1125.0
Expenditure21.950.2104.1245.6608.41,019.2
Current18.543.398.9238.6373.2683.0
Defense7.218.746.8118.6219.4431.8
Other11.324.652.2119.9153.8251.2
Capital3.56.95.27.1235.2335.4
Interest payments (cash)0.8
Current deficit on cash basis (-)-3.1-20.0-15.4-81.5-83.1-93.4
Overall deficit on cash basis (-)-6.6-26.9-45.3-89.6-318.3-428.8
Financing6.626.945.389.6318.3428.8
Foreign2.07.26.11.5239.1432.1
Domestic4.619.739.288.179.2-3.2
Bank4.619.714.5112.830.7-14.3
Nonbank41.511.1
Arrears24.7-24.77.0
(In percent of GDP)
Revenue6.43.94.46.25.29.6
Tax2.62.22.34.44.25.9
Nontax3.81.72.11.91.03.7
Expenditure9.18.47.89.811.016.6
Current7.77.27.49.56.711.2
Defense3.03.13.54.74.07.0
Other4.74.13.94.82.84.1
Capital1.41.20.40.34.25.5
Current deficit on cash basis (-)-1.3-3.3-1.2-3.2-1.4-1.5
Overall deficit on cash basis (-)-2.7-4.5-3.4-3.6-5.7-7.0
Foreign financing0.81.20.50.14.37.0
Domestic financing1.93.32.93.51.4-0.1
Bank financing1.93.31.14.50.6-0.2
Sources: Data provided by the Cambodian authorities; and staff estimates.
Sources: Data provided by the Cambodian authorities; and staff estimates.
Table 7.Cambodia: Government Revenue, 1989–94(In billions of riel)
198919901991199219931994
Prelliminary
Actual
Tax revenue6.213.331.1109.7234.1364.6
State enterprises 1/7.614.02.7
Central enterprises7.213.62.7
Provincial enterprises0.40.4
Private enterprises4.24.49.022.847.717.9
Profit tax 2/5.0
Turnover tax 2/6.8
Hotel room tax 3/0.55.32.0
Other4.34.9.122.342.44.1
Consumption tax 4/12.946.9
Customs duties1.98.822.079.3159.5280.9
Petroleum products 5/2.613.646.1
Other1.98.822.,076.7145.9234. 8
Nontax revenue9.,210.027. 846.356.0225.8
State enterprises 1/8.07,825. 842.353.6219.0
Central enterprises6.65.623.238.051.3215.2
Amortization1.11.50.3
Fishing lots0.20.21.02.33.44.8
Forestry exploitation1.43.9100.8
Factory leases3.28.43.8
Post and communications 6/61.0
Civil aviation 6/8.2
Concession royalties3.9
Miscellaneous30.133.132.4
Provincial enterprises1.32.22.64.43.33.8
Amortization0.12.8
Factory leases4.33.31.0
Administrative fees0.50.41.11.91.45.5
Fines and penalties0.71.80.92.11.01.3
Total revenue15.323.358.8156.1290.1590.4
Sources: Data provided by the Cambodian authorities; and staff estimates.

Taxes paid by state enterprises are included in “nontax revenue” before 1992.

Introduced in the 1994 budget.

Introduced in October 1992.

Introduced in September 1993.

From 1992, customs duties on petroleum products are shown separately.

Shown separately from 1994.

Sources: Data provided by the Cambodian authorities; and staff estimates.

Taxes paid by state enterprises are included in “nontax revenue” before 1992.

Introduced in the 1994 budget.

Introduced in October 1992.

Introduced in September 1993.

From 1992, customs duties on petroleum products are shown separately.

Shown separately from 1994.

Table 8.Cambodia: Government Expenditure, 1989–94(In billions of riel)
198919901991199219931994
Preliminary
Actual
Current expenditure18.543.398.9238.6373.2683.8
Civil service6.619.330.474.3124.3200.7
Social welfare6.614.120.445.265.097.7
Of which: Salaries(…)(…)(15.1)(39 8)(41.5)(64.5)
Subsidies(3.2)(9.1)(—)(—)(—)(—)
Public health5.610.029.8
Education3.44.926 632.160.6
Social welfare10.820.02.5
Information and culture2.22.94.8
Other agencies5.210.029.159.3103.0
Salaries5.514.125.935.1
Other4.515.033.467.9
Subsidies3.05.316.19.317.513.6
Working capital for
state enterprises1 83.813.20.911.54.5
State enterprise losses0.60.72.37.82.37.7
Miscellaneous0.60.80.60.63.71.4
Purchase for exports (net) 1/1.70.14.434.7
National defense7.218.746.8118.6219.4431.8
Military7.233.987.7142.9347.8
Security and welfare
organizations12.830.976.484.0
Social safety net/wages1.31.512.036.9
Interest payments (cash)0.8
Capital expenditure3.56.95.27.1235.2335.4
Domestic resources3.56.95.27.123.266.0
Construction2.04.43.45.75.529.1
Equipment1.52.51.81.417.736.9
External assistance212.0269.4
Total expenditure21.950.2104.1245.6608.41,019.2
Sources: Data provided by the Cambodian authorities; and staff estimates.

Net of “sale of imports,” and represents various expenses in foreign currency such as imports of fuel, spare parts, medicines, and costs of embassies and overseas delegations.

Sources: Data provided by the Cambodian authorities; and staff estimates.

Net of “sale of imports,” and represents various expenses in foreign currency such as imports of fuel, spare parts, medicines, and costs of embassies and overseas delegations.

Table 9.Cambodia: Consumer Price Index, March 1988-July 1995(Base: March 1988 - 100)
19881989199019911992199319941995
January1272588731,2343,2634,2104,989
February1282758801,2823,2384,2464,736
March1001282939521,3616,0044,2994,794
April1373221,0071,4135,2384,4554,771
May1473501,0021,6545,8574,7104,943
June1101563791,1371,9715,6514,5885,030
July1784391,3842,4365,0244,7935,196
August2014991,8392,7364,8924,997
September1212235591,7683,2244,8325,064
October2295741.7363,2224,8665,252
November2345891,5563,0434,2865,194
December1262406051,1363,1434,1185,192
Average for
12-month period1774281,2722,2274.7754.750
Memorandum items:
Rate of inflation
(12-month period
average)63.8141.8197.075.0114.5-0.5
Rate of inflation
(end-period)90.5152.387.9176.831.026.1
Source: Data provided by the Cambodian authorities.
Source: Data provided by the Cambodian authorities.
Table 10.Cambodia: Indicators of Inflation, 1988–95
Parallel Market
Exchange RateGold Price
Consumer(Riels per US$)(Riels per Chi 1/)
Price IndexEnd-PeriodEnd-Period
(March 1988-100)Buying RateSelling Price
1988
March100.01397,400
June109.51407,700
September120.91537,850
December125.81608,100
1989
March128.31788,700
June155.71978,400
September223.12209,200
December239.630013,100
1990
March293.238017,000
June378.648020,450
September558.967532,000
December604.561328,300
1991
March952.069129,250
June1,137.490538,400
September1,767.81,12547,600
December1,135.655024,500
1992
March1,360.693537,500
June1,971.11,27551,000
September3,224.32,14287,000
December3,143.02,31090,500
1993
March6,003.83,116159,000
June5,651.23,113125,000
September4,832.42,685112,000
December4,117.02,350109,000
1994
March4,299.02,535115,000
June4,588.02,540112,000
September5,064.02,615112,000
December5,192.02,593113,055
1995
March4,794.02,387105,700
June5,030.02,375104,133
Source: Data provided by the Cambodian authorities.

240 chi - 1 kg.

Source: Data provided by the Cambodian authorities.

240 chi - 1 kg.

Table 11.Cambodia: Deposit Money Banks' Balance Sheet, 1993–95 1/(In billions of riel)
199319941995
DecemberDecemberJanuaryFebruaryMarchAprilMay
Net foreign assets82162137166142148158
Foreign assets240326296329314315330
Foreign liabilities158165159163173166172
Net domestic credit139239256278263260250
Net claims on government-25-1-2-1-1-1-1
Claims
Deposits25121111
Claims on public enterprises Claims on private sector 2/61586234625362745 2605 2475 246
Other assets, net-78-207-179-218-192-188-191
Assets95206269259237222213
Claims on NBC12585858545248
Fixed assets45717578747172
Interbank claims 3/13359170524643
Other assets24424553575349
Liabilities173414447477429410404
Liabilities to NBC3335533
Capital 4/108357355366343329332
Restricted deposits10334344
Interbank liabilities 3/25205875373336
Other27302928414129
Reserves14786471686665
Cash6323233
Deposits at NBC6756268666463
Other credits to NBC2
Deposits156271280297201278283
Demand deposits12212022212019
Time and savings deposits9181925221722
Foreign currency deposits135233241250238241242
Source: National Bank of Cambodia.

Quarterly data for 1993 and 1994 are not shown because they are not yet available on an equivalent adjusted basis.

Almost entirely denominated in foreign currency.

Interbank claims and liabilities are for clearing purposes, as no interbank lending yet takes place.

The large increase in bank capital in 1994 was in large part due to National Bank regulations (1) requiring commercial banks which were licensed but not yet in operation to deposit at the National Bank their minimum capital, and (2) requiring banks already in operation to bring their paid-up capital up to the minimum required level.

Source: National Bank of Cambodia.

Quarterly data for 1993 and 1994 are not shown because they are not yet available on an equivalent adjusted basis.

Almost entirely denominated in foreign currency.

Interbank claims and liabilities are for clearing purposes, as no interbank lending yet takes place.

The large increase in bank capital in 1994 was in large part due to National Bank regulations (1) requiring commercial banks which were licensed but not yet in operation to deposit at the National Bank their minimum capital, and (2) requiring banks already in operation to bring their paid-up capital up to the minimum required level.

Table 12.Cambodia: Reserve Money, 1993–95 1/(In billions of riel)
199319941995
DecemberDecemberJanuaryFebruaryMarchAprilMay
Reserve money228286302278264266267
Currency outside banks190176174174175175185
Currency in banks6321333
Bank deposits3010212195838275
Required222324232423
Other30809771605851
(acct 063) 2/(—)(49)(66)(40)(29)(27)(20)
Other deposits2457465
Factors affecting reserve money:
Net foreign assets90229267245231221228
Foreign assets111306344324360345352
Bank accounts 3/53224241241298285278
Foreign exchange20416141222135
SDRs38414142403939
IMF position
Foreign liabilities21767779128124124
IMF21767779128124124
Other NBC liabilities--
Net domestic assets138563532324538
Net credit to Government196145128126109115113
Claims202215215216212211211
Deposits67088901039697
Claims on public enterprises
Claims on private sector4333222
Rediscount facility
Other claims on banks33343434343434
Other items net-95-125-129-130-114-106-111
Assets63858686827574
IMF net34404142403535
Intra-central bank accounts18653323
Fixed & other assets8222224232220
Contested claims4888899
Capitalized expense 4/999988
Liabilities157211215217196181185
Capital112127131133117106110
Capital and reserves55595960565357
Provisions7668888
SDR allocation51585960585656
Income & expense account-111111
Valuation adjustment564-5-12-12
Restricted deposits16262728262525
Government lending funds1111111
Loans from DMBs33313130292828
Due to FTBC 4/262626242323
Interoffice accounts and other-5
Source: Data provided by National Bank of Cambodia, with adjustments by Fund staff for December 1993 data.

Quarterly data for 1993 and 1994 are not shown because they are not yet available on an equivalent adjusted basis.

Effective from May 1994, deposits required of new commercial banks prior to their commencing operations.

Foreign assets for December 1993 include $22.1 million in assets that had been frozen in foreign bank accounts and that were unfrozen in 1994.

Related to an old loan from the Foreign Trade Bank (FTBC) to the National Bank, first entered into the books of the National Bank effective from December 1994.

Source: Data provided by National Bank of Cambodia, with adjustments by Fund staff for December 1993 data.

Quarterly data for 1993 and 1994 are not shown because they are not yet available on an equivalent adjusted basis.

Effective from May 1994, deposits required of new commercial banks prior to their commencing operations.

Foreign assets for December 1993 include $22.1 million in assets that had been frozen in foreign bank accounts and that were unfrozen in 1994.

Related to an old loan from the Foreign Trade Bank (FTBC) to the National Bank, first entered into the books of the National Bank effective from December 1994.

Table 13.Cambodia: Monetary Survey 1/(In billions of riel)
199319941995
DecemberDecemberJanuaryFebruaryMarchAprilMay
Net foreign assets172391403410372369387
National Bank90229266245231221228
Assets 2/111306344324360345352
Liabilities21767779128124124
Deposit money banks82162137166142148158
Assets240326296329314315330
Liabilities158165159163173166172
Net domestic assets176615468878986
Net domestic credit339386387406375367365
Government (net)171143126124108114112
National Bank196145128126109115113
Claims202215215216212211211
Deposits67088901039697
DMBs-25-1-2-1-1-1-1
Claims0000000
Deposits25121111
Public enterprises6666555
Private sector and NBFIs162237255276262249249
Other items (net)-163-325-333-338-288-278-280
Capital-220-483-485-499-458-435-442
NBC capital-112-127-131-133-117-106-110
DMB capital-108-357-355-366-343-329-332
Other57158153161170157162
Total liquidity348452457478459459472
Narrow money204202199203199201209
Currency in circ.190176174174175175185
Demand deposits14252529242524
Quasi-money144250258275260258264
Time deposits9181925221722
Foreign currency deposits135233239250238241242
Memorandum items:
Foreign currency deposits (mns $)5790939699105105
Private sector credit (mns $)689299106109109108
Net foreign assets (mns $)72152156157155158168
DMBs (including FTBC)34635364596569
National Bank388910394969399
Gross assets46119133124150147153
Gross liabilities-9-30-30-30-53-54-54
(in mns SDRs)-6-20-20-20-34-34-34
Nominal GDP (Bns of CR)5.4146,131
Average stock liquidity277399
Velocity2015
Change in net credit to government
as percent of beginning money stock6-8
Exchange rates (end-period)
Riel/US dollar2,3902,5752,5752,6002,4002,2942,300
Sources: Data provided by National Bank of Cambodia, with adjustments by Fund staff for December 1993 data.

Quarterly data for 1993 and 1994 are not shown because they are not yet available on an equivalent adjusted basis.

Foreign assets of the National Bank for December 1993 include $22.1 million in assets that had been frozen in foreign bank accounts and that were unfrozen in 1994.

Sources: Data provided by National Bank of Cambodia, with adjustments by Fund staff for December 1993 data.

Quarterly data for 1993 and 1994 are not shown because they are not yet available on an equivalent adjusted basis.

Foreign assets of the National Bank for December 1993 include $22.1 million in assets that had been frozen in foreign bank accounts and that were unfrozen in 1994.

Table 14.Cambodia: Interest Rates, 1994-95 1/(Percent per annum)
19941995
JuneSept.Dec.MarchMay
Deposit rates
Riel savings deposits9.35.87.08.46.4
Riel term deposits 2/25.236.036.037.139.6
Foreign currency savings deposits2.52.43.32.42.4
Foreign currency term deposits5.33.73.63.53.5
Lending rates 3/
Foreign currency loans: rates charged
to private enterprises16.818.218.217.017.7
Source: National Bank of Cambodia.

Simple averages of rates reported by the ten Cambodian commercial banks with the largest deposits. These data represent a new series not available for earlier periods.

The average rate shown is that reported for three-month riel deposits. The rates offered by all banks vary considerably, recently ranging between 5 and 40 percent per annum. The volume of total riel deposits continues to be small.

Virtually all loans to the private sector in Cambodia are denominated in foreign currencies.

Source: National Bank of Cambodia.

Simple averages of rates reported by the ten Cambodian commercial banks with the largest deposits. These data represent a new series not available for earlier periods.

The average rate shown is that reported for three-month riel deposits. The rates offered by all banks vary considerably, recently ranging between 5 and 40 percent per annum. The volume of total riel deposits continues to be small.

Virtually all loans to the private sector in Cambodia are denominated in foreign currencies.

Table 15.Cambodia: Balance of Payments, 1989-94 1/(In millions of U.S. dollars)
198919901991199219931994
RevisedPreliminary
ActualActual
Trade balance-97-78-33-86-203-230
Exports7986213265219458
Domestic exports42336751102230
Re-exports3853145213117228
Imports176-164-245-351-422-668
Of which: retained imports 2/(-139)(-111)(-100)(-138)(-305)(-461)
Services (net)-12-1712810-81
Receipts2214506659
Payments 3/-14-19-13-22-56-139
Of which: interest(-1(-16)
Private transfers3349420
Current account (excluding official transfers)-107-91-28-50-190-291
Official transfers174235110235
Current account (including official transfers)-89-50-25-45-79-56
Capital account10994253811493
Medium- and long-term loans27125-24452
Disbursements352654461
Amortization 3/-7-15-2-9
Private (net)20407041
Of which:
Bank capital(…)(…)(…)(…)(70)
Foreign direct investment(…)(…)(…)(…)(—)(10)
CMEA trade credit8283
Errors and omissions 4/-22-35-10
Overall balance 5/-210-10-73537
Financing2-10107-35-37
Net foreign assets of banking system (-increase)-1883-35-51
Change in arrears to IMF282-8-52
Funds for clearance of arrears 6/1152
Change in non-IMF arrears 7/15
Memorandum items:
Current account deficit / GDP
(excluding official transfers)-7.4-6.41.5-2.5-8.6-12.2
Gross official reserves 8/
In millions of U.S. dollars3071100
In months of imports of goods and services1.01.81.4
Domestic exports /GDP2.92.33.52.64.79.6
Debt service ratio (scheduled) 9/8.6
Debt service ratio (cash) 9/3.6
External debt/GDP 10/20.6
Sources: Data provided by the Cambodian authorities; and staff estimates.

Nonconvertible currency transactions between 1988 and 1990 are translated into dollars at an exchange rate of rub 1.1 = US$1. From 1991, all trade is on a convertible currency basis. The change to convertible currency in 1991 makes it difficult to compare meaningfully balance of payments aggregates between 1990 and 1991.

Retained imports are total imports less re-exports and include project aid imports and an estimate of unrecorded imports.

Accrual basis. Prior to 1994, accrued interest on external debt and scheduled amortization on the existing stock of debt vis-a-vis official bilateral creditors are excluded. Cambodia has initiated approaches to creditor countries to clarify the amount of the debt and to resolve the claims.

From 1992 onward, errors and omissions are included in net private capital.

The definition of the overall balance in 1994 differs from that in previous years in that changes in the NFA of commercial banks are now included above the line in private capital.

The clearance of arrears were treated as exceptional financing in the balance of payments without affecting net foreign assets. Historically, Cambodia's foreign assets and liabilities were net of liabilities to the fund.

Data not available prior to 1994, and are shown here as zero.

For 1992 and 1993, gross official reserves are the gross foreign assets of the National Bank of Cambodia and the Foreign Trade Bank. For 1994, gross official reserves are those of the National Bank only.

As a percent of goods and services.

External debt excludes debt to the former CMEA, for which dollar valuation is not yet agreed.

Sources: Data provided by the Cambodian authorities; and staff estimates.

Nonconvertible currency transactions between 1988 and 1990 are translated into dollars at an exchange rate of rub 1.1 = US$1. From 1991, all trade is on a convertible currency basis. The change to convertible currency in 1991 makes it difficult to compare meaningfully balance of payments aggregates between 1990 and 1991.

Retained imports are total imports less re-exports and include project aid imports and an estimate of unrecorded imports.

Accrual basis. Prior to 1994, accrued interest on external debt and scheduled amortization on the existing stock of debt vis-a-vis official bilateral creditors are excluded. Cambodia has initiated approaches to creditor countries to clarify the amount of the debt and to resolve the claims.

From 1992 onward, errors and omissions are included in net private capital.

The definition of the overall balance in 1994 differs from that in previous years in that changes in the NFA of commercial banks are now included above the line in private capital.

The clearance of arrears were treated as exceptional financing in the balance of payments without affecting net foreign assets. Historically, Cambodia's foreign assets and liabilities were net of liabilities to the fund.

Data not available prior to 1994, and are shown here as zero.

For 1992 and 1993, gross official reserves are the gross foreign assets of the National Bank of Cambodia and the Foreign Trade Bank. For 1994, gross official reserves are those of the National Bank only.

As a percent of goods and services.

External debt excludes debt to the former CMEA, for which dollar valuation is not yet agreed.

Table 16.Cambodia: Merchandise Exports, 1988-94 1/(In millions of U.S. dollars)
1988198919901991199219931994
RevisedPreliminary
EstimateActual
Exports30.841.832.967.351.3102.1230.0
Rubber20.923.916.518.712.613.927.0
Quantity 2/27.232.923.830.527.826.027.7
Unit value 3/768.4726.4693.3613.1453.2534.2975.0
Logs3.17.77.724.625.156.4124.0
Quantity 4/51.691.296.9259.8296.5562.41,160.0
Unit value 5/60.184.479.594.784.789.7106.9
Sawn timber3.734.073.0
Quantity 4/25.5151.0360.0
Unit value 5/145.8225.7202.8
Soybeans2.13.63.39.92.1
Quantity 2/10.616.314.149.19.7
Unit value 3/198.1220.8234.0201.6216.5
Maize1.71.40.62.30.6
Quantity 2/18.715.55.526.46.2
Unit value 3/90.990.3109.187.196.8
Fishery products1.61.40.22.4
Quantity 2/2.52.5
Unit value 3/640.0560.0
Sesame0.471.01.22.1
Quantity 2/1.13.23.59.7
Unit value 3/236.4312.5347.9216.5
Kapok fiber0.20.20.20.10.2
Quantity 2/0.30.20.20.10.2
Unit 3/0.80.81.01.00.9
Other2.44.04.65.27.23.63.6
Sources: Data provided by the Cambodian authorities; and staff estimates.

Exports to the nonconvertible currency area are converted at the exchange rate of US$l-Rub 1.1. From 1991, transactions with the former CMEA take place in convertible currencies.

In thousands of metric tons.

In U.S. dollars per ton.

In thousands of cubic meters. Volume includes estimate of illegal exports.

In U.S. dollars per cubic meter.

Sources: Data provided by the Cambodian authorities; and staff estimates.

Exports to the nonconvertible currency area are converted at the exchange rate of US$l-Rub 1.1. From 1991, transactions with the former CMEA take place in convertible currencies.

In thousands of metric tons.

In U.S. dollars per ton.

In thousands of cubic meters. Volume includes estimate of illegal exports.

In U.S. dollars per cubic meter.

Table 17.Cambodia: Customs Imports, 1993–94
19931994
Millions

of riel
Millions

of dollars
Millions

of riel
Millions

of dollars
Cigarettes148,30460245,73396
Petrol43,6641874,31229
Motorcycles32,9741374,39429
Diesel oil45,3801877,96930
Vehicles45,6681830,82412
Beer24,5771037,69815
VCR39,1491659,25323
TV25,3841054,32121
Construction material59,7132453,27221
Fabric171,5446992,72336
Fuel oil6,64638,3093
Food products6,715329,65112
Radio cassettes11,532510,9154
Vehicle parts10,61448,2303
Nonalcoholic drinks9,461415,0906
Clothing51,1012130,62612
Alcohol1,740119,8048
Refrigerators2,74613,4571
Generators10,09646,6533
Gold69,10028200,97578
Sugar35,41614
Cement31,58112
Lubricants7,6063
Monosodium15,5366
Steel19,9358
Cooking oil1,203
Silver2,0871
Other76,17031170,23066
Total892,2783611.417.803553
Memorandum item:
Exchange rate
(riels per US$)2,4702,563
Source: Data provided by the Cambodian authorities.
Source: Data provided by the Cambodian authorities.
Table 18.Cambodia: Quarterly Changes in Alternative CPIs, 1988–95
Riel-Based CPIParallelU.S. Dollar-Based CPIGold-Based CPI
QuarterlyMarketQuarterlyQuarterly
Change inExchangeChange inGoldChange in
IndexPercentRate 1/Index 2/PercentPrice 3/Index 4/Percent
1988
March100.0139100.07.400100.0
June109.59.5140108.78.77,700105.25.2
September120.910.4153109.81.07,850114.08.3
December125.84.1160109.3-0.58,100114.90.8
1989
March128.32.0178100.2-8.38, 700109.1-5.0
June155.721.4197109.90.78, 400137.225.7
September223.143.3220141.028.39.200179.530.8
December239.67.4300111.0-21.213,100135.3-24.6
1990
March293.222.4380107.2-3.417,000127.6-5.7
June378.629.1480109.62.220,450137.07.3
September558.947.6675115.15.032,000129.2-5.7
December604.58.2613137.119.128,300158.122.3
1991
March952.057.5691191.539.729,250240.852.4
June1,137.419.5905174.7-8.838,400219.2-9.0
September1,767.855.41,125218.425.047,600274.825.4
December1,135.6-35.8550287.031.424,500343.024.8
1992
March1,360.619.8935202.3-29.537,500268.5-21.7
June1,971.144.91,275214.96.251,000286.06.5
September3,224.363.62,142209.2-2.687,000274.3-4.1
December3,143.0-2.52,310189.1-9.690,500257.0-6.3
1993
March6, 003.891.04,200198.75.1162,000274.26.7
June5, 651.2-5.92, 950266.334.0125,000334.622.0
September4,832.4-14.52,700248.8-6.6112,000319.3-4.6
December4,117.0-14.82,470231.7-6.9109,000279.5-12.5
1994
March4,299.04.42,535235.71.7115,000276.6-1.0
June4,588.06.72,540251.16.5112,000303.19.6
September5, 064.010.42,615269.27.2112,000334.610.4
December5,192.02.52,593278.33.4113,055339.81.6
1995
March4,794-7.72,387279.20.3105,700335.6-1.2
June5,0304.92,375294.45.4104,133357.56.5
Source: Based on data provided by the Cambodian authorities.

Riels per U.S. dollar, end-period.

Riel-based CPI divided by the parallel market exchange rate.

Riels per chi (240 chi = 1 kg.), end-period.

Riel-based CPI divided by the gold price.

Source: Based on data provided by the Cambodian authorities.

Riels per U.S. dollar, end-period.

Riel-based CPI divided by the parallel market exchange rate.

Riels per chi (240 chi = 1 kg.), end-period.

Riel-based CPI divided by the gold price.

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