The Economic Development and Level of Poverty in Cambodia

Abstract

The assessment of a country's development is not solely based on the income level of its individuals, but can also be gauged by considering two other key indicators: life expectancy and educational development. In the period spanning from 2015 to 2021, there has been a noticeable increase in Cambodian income, life expectancy, and education levels, indicating an overall improvement in the country's development status. The current number of individuals living in poverty stands at around 4.7 million, with approximately 4.3 million residing in rural areas and 0.4 million in urban areas. Nevertheless, over the span of ten years, there has been a noteworthy decline in the number of people below the poverty line, resulting in a reduction of 40.43%. The decrease in numbers has reduced the total nationwide count to 2.8 million people, with 2.2 million residing in rural regions and 0.6 million in urban areas. Consequently, 1.9 million individuals have successfully escaped poverty, indicating significant advancement. It should be emphasized that this impressive development could not have been achieved without continuous economic expansion. Cambodia has maintained an average economic growth rate of 7.7 percent for twenty years.