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Logo of Phnom Penh Post newspaper Phnom Penh Post - Current account deficit rises to $542M in 4Q15

Current account deficit rises to $542M in 4Q15

Cambodia's current account balance deficit was the equivalent of $542 million in the fourth quarter of 2015, the equivalent of 11.5 per cent of GDP, the National Bank of Cambodia said in a report released yesterday.

It said the current account deficit increased by about $121 million on the previous quarter due to “an increase of 24.5 per cent in the deficits of balance on goods, and a decrease of 34.7 per cent in the surplus of net current transfers.”

However, this deficit “was partly offset by an increase of 22.8 per cent in the surplus of net services and a decrease of 9.2 per cent in net income.”

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Don Rennie's picture

Dear Post Staff,

The USA currently has a deficit of 100% of GDP. Great Britain has a deficit of more than 550% of GDP. Most developed nations carry some form of deficit spending.

Cambodia, having a deficit of 11.5% of GDP, is mild when compared with all sovereign nations.

If Cambodia could find oil offshore, maybe the deficit would decline.

DR

Adam J Duncan's picture

Don I think you're getting debt & deficit mixed up... not possible to have a current account deficit of 550% of GDP. Also, "current account deficit" refers to a trade deficit, nothing to do with government deficit spending. World Bank estimates 2015 US trade deficit at 2.2% of GDP, UK at 5.1%. It's considered less healthy for developing nations to have a trade deficit than developed as they're less likely to have overseas holdings that will balance the outflow. Cambodia has no equivalent to, say, British Petroleum, making profits overseas.

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