Cambodia Economic Outlook - A Two Speed Economy?

Cambodia’s economy is increasingly two speed, with many households and domestically focused businesses under real pressure, even as parts of the formal economy show surprising strength.

In this short update, Mekong Strategic Capital outlines why we are now slightly more optimistic than three months ago, with GDP growth of around 4 percent expected this year and next. We unpack the impact of scam centres and the Thai border conflict, ongoing stress in the property and credit markets, and the contrasting resilience in tax collections, vehicle and machinery imports, and exports, as well as the fiscal space available to the Royal Government of Cambodia to respond.

> Download our full analysis:

Cambodia Economic Update December 2025.pdf

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