Planning Ministry Launches New National Account Base Year

Phnom Penh, July 03, 2024 --

The Ministry of Planning has launched the dissemination of the result of the rebased national accounts base year 2014, from the 2000 base.

Addressing the dissemination workshop on July 2, Minister of Planning H.E. Bin Trachhey underscored the importance of the national accounts base year in generating Cambodia's macroeconomic statistics, cutting across all sectors of the country's economy.

The calculation of Cambodia's gross domestic product (GDP) was based on the 2000 base until 2022.

Experts recommended that the national accounts base year should be updated at most every ten years to allow the generation of more accurate socio-economic statistical data and analyses.

However, said the minister, we need to have sufficient data sources to update the base year, and now Cambodia has updated it.

The National Institute of Statistics led the update with the technical assistance of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) and Statistics Sweden, and quality review by the International Monetary Fund (IMF).

According to H.E. Bin Trachhey, the main purpose of dissemination of the rebased national accounts base year 2014 is to gather input from relevant ministries and government institutions as well as development partners in using the updated base for socio-economic statistical data and analyses in 2024.