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Economy of Cambodia vs Thailand compared: GDP & Debt

Updated on by Georank team

Cambodia has a GDP of $46.4B compared to $527B for Thailand, ranking 97/197 and 31/197 by economy size, respectively.

Cambodia has $12B in government debt (25.9% of GDP), compared to $333B (63.2% of GDP) in Thailand.

Cambodia vs Thailand GDP by year

Cambodia
Thailand
1x
Year GDP, current $
Cambodia Thailand
2024 $46,352,647,037 $526,517,658,842
2023 $42,335,646,896 $515,906,283,941
2022 $39,994,532,960 $495,644,697,588
2021 $36,790,163,687 $506,194,668,790
2020 $34,818,073,901 $500,461,898,480
2019 $36,685,356,408 $543,976,691,794
2018 $33,145,892,169 $506,754,208,404
2017 $29,355,665,910 $456,356,813,537
2016 $26,556,545,153 $413,366,349,748
2015 $24,174,170,369 $401,296,238,228
2014 $22,041,463,968 $407,339,040,198
2013 $19,807,135,253 $420,333,654,593
2012 $17,826,536,700 $397,558,325,279
2011 $16,032,622,024 $370,818,739,624
2010 $13,808,673,288 $341,104,766,329
2009 $12,502,901,170 $281,710,630,187
2008 $12,174,303,999 $291,382,982,431
2007 $10,127,916,460 $262,942,621,455
2006 $8,350,531,017 $221,758,296,022
2005 $7,066,296,463 $189,318,408,469
2004 $5,883,297,160 $172,895,685,155
2003 $5,046,693,484 $152,280,615,246
2002 $4,501,227,627 $134,300,904,400
2001 $4,145,665,970 $120,296,476,180
2000 $3,694,168,979 $126,392,224,254
1999 $3,517,242,477 $126,669,211,779
1998 $3,120,425,503 $113,675,596,788
1997 $3,443,413,389 $150,180,456,566
1996 $3,506,695,720 $183,035,237,429
1995 $3,441,205,693 $169,278,916,593
1994 $2,791,435,272 $146,683,778,959
1993 $2,533,727,592 $128,889,262,951
1992 $2,491,486,594 $111,452,746,518
1991 $2,054,974,089 $98,234,714,971
1990 $1,402,541,177 $85,343,190,719
1989 $1,353,137,648 $72,250,748,100
1988 $1,662,877,859 $61,667,253,471
1987 $1,036,974,910 $50,535,446,555
1986 $1,167,630,318 $43,096,773,981
1985 $1,102,669,184 $38,900,711,333
1984 $1,021,176,059 $41,797,647,776
1983 $939,291,262 $40,042,798,388
1982 $865,516,040 $36,589,772,404
1981 $815,153,652 $34,846,039,194
1980 $744,384,130 $32,353,514,989
1979 $723,738,503 $27,371,650,825
1978 $766,642,356 $24,006,566,637
1977 $716,261,764 $19,779,312,261
1976 $790,357,255 $16,985,208,648
1975 $749,129,748 $14,882,770,594
1974 - $13,702,998,512
1973 - $10,838,587,358
1972 - $8,177,873,151
1971 - $7,375,000,024
1970 - $7,086,538,438
1969 - $6,695,336,567
1968 - $6,081,009,428
1967 - $5,638,461,442
1966 - $5,279,230,817
1965 - $4,388,937,649
1964 - $3,889,129,942
1963 - $3,540,403,457
1962 - $3,308,912,797
1961 - $3,034,037,811
1960 - $2,760,750,861

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/cambodia/thailand | CC BY

GDP per capita in Cambodia vs Thailand by year

Cambodia
GDP per capita

GDP per capita, PPP
Thailand
GDP per capita

GDP per capita, PPP
1x
Year Current $
Cambodia Thailand
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $2,628 $7,967 $7,347 $24,712
2023 $2,430 $7,431 $7,195 $23,519
2022 $2,325 $6,919 $6,909 $22,243
2021 $2,167 $6,226 $7,057 $20,243
2020 $2,082 $5,942 $6,986 $19,164
2019 $2,226 $6,154 $7,606 $19,963
2018 $2,037 $5,617 $7,100 $18,876
2017 $1,826 $5,050 $6,413 $17,573
2016 $1,675 $4,748 $5,834 $16,671
2015 $1,547 $4,434 $5,689 $15,791
2014 $1,432 $4,118 $5,801 $15,365
2013 $1,306 $3,891 $6,018 $15,216
2012 $1,193 $3,583 $5,726 $14,617
2011 $1,089 $3,223 $5,374 $13,227
2010 $952 $2,989 $4,974 $12,932
2009 $876 $2,854 $4,135 $11,964
2008 $866 $2,769 $4,309 $12,062
2007 $732 $2,566 $3,919 $11,723
2006 $612 $2,297 $3,331 $10,912
2005 $526 $2,038 $2,868 $10,169
2004 $444 $1,770 $2,642 $9,545
2003 $387 $1,598 $2,348 $8,824
2002 $350 $1,442 $2,090 $8,148
2001 $328 $1,357 $1,890 $7,632
2000 $296.4 $1,256 $2,006 $7,289
1999 $286.8 $1,134 $2,033 $6,901
1998 $258.8 $1,009 $1,848 $6,590
1997 $297.6 $994 $2,473 $7,148
1996 $325 $1,006 $3,055 $7,322
1995 $343 $1,006 $2,864 $6,901
1994 $302 $972 $2,518 $6,341
1993 $294.1 $1,565 $2,245 $5,834
1992 $307 $1,560 $1,972 $5,347
1991 $267.3 $1,504 $1,766 $4,914
1990 $190.2 $1,410 $1,559 $4,451
1989 $191.3 - $1,342 -
1988 $244.1 - $1,164 -
1987 $158.1 - $970 -
1986 $185.8 - $842 -
1985 $182.4 - $774 -
1984 $174.7 - $847 -
1983 $166.7 - $827 -
1982 $159.2 - $770 -
1981 $154.3 - $748 -
1980 $143.2 - $709 -
1979 $142.2 - $612 -
1978 $147.1 - $548 -
1977 $126.4 - $462 -
1976 $128.8 - $405 -
1975 $113.8 - $364 -
1974 - - $343 -
1973 - - $278.3 -
1972 - - $215.6 -
1971 - - $199.7 -
1970 - - $197.1 -
1969 - - $191.4 -
1968 - - $178.8 -
1967 - - $170.7 -
1966 - - $164.5 -
1965 - - $140.9 -
1964 - - $128.6 -
1963 - - $120.7 -
1962 - - $116.2 -
1961 - - $109.7 -
1960 - - $102.8 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/cambodia/thailand | CC BY

Cambodia's GDP per capita is $2,628, ranking 145/197, compared to $7,347 in Thailand, ranking 100/197. Adjusted for purchasing power (GDP per capita PPP), Cambodia ranks 142nd at $7,967, while Thailand ranks 85th at $24,712.

Economic indicators

Cambodia Thailand
Gross domestic product
$46.4B
2024
$527B
2024
GDP rank
97/197
2024
31/197
2024
GDP growth
5.98%
2023-2024
2.54%
2023-2024
GDP per capita
$2,628
2024
$7,347
2024
GDP per capita rank
145/197
2024
100/197
2024
GDP per capita, PPP
$7,967
2024
$24,712
2024
GDP per capita PPP rank
142/197
2024
85/197
2024
Government debt
$12B
2024
$333B
2024
Debt-to-GDP ratio
25.9%
2024
63.2%
2024
Government debt per person
$681
2024
$4,643
2024
Government debt per person rank
156/185
2024
84/185
2024
Average annual personal income after taxes
$2,258
2026
$6,733
2026
Market capitalization of domestic companies n/a
$520B
2024
Number of millionaires n/a
100,001
2025
Number of billionaires n/a
25
2025
Income share by richest 10% n/a
26.1%
2023
Income share by poorest 10% n/a
3.4%
2023
Government expenditure, % of GDP
17.3%
2024
22.7%
2024
Consumer prices inflation
0.9%
2023-2024
1.37%
2023-2024
Central bank interest rate n/a
1.5%
2025
Unemployment rate
0.26%
2023
0.78%
2024
Population
18113986
71571743

Spending and national debt comparison by year

Cambodia
Spending

Debt
Thailand
Spending

Debt
1x
Year % of GDP
Cambodia Thailand
Government spending Government debt Government spending Government debt
2024 17.3% 25.9% 22.7% 63.2%
2023 19.1% 26.3% 22.8% 62.3%
2022 18.7% 25.5% 24.7% 60.5%
2021 21% 25.9% 26.8% 58.3%
2020 20.3% 25.2% 24.9% 49.4%
2019 17.6% 20.8% 20.6% 41.1%
2018 16.1% 21.1% 21.2% 41.9%
2017 16.2% 22.6% 21.5% 41.8%
2016 15.2% 21.8% 21.4% 41.7%
2015 14.5% 23.3% 22.3% 42.6%
2014 16.5% 24.2% 22.2% 43.3%
2013 16.4% 24.4% 21.6% 42.2%
2012 17.1% 24.9% 22.3% 41.9%
2011 16.5% 23.8% 21.1% 39.1%
2010 17% 23.4% 22% 39.8%
2009 17% 23.7% 21.7% 42.4%
2008 13.1% 23% 19.2% 34.9%
2007 12.3% 25.1% 20% 36%
2006 11.3% 26.7% 18.7% 39.2%
2005 11% 31.7% 19.6% 45.5%
2004 12.6% 38.7% 19.3% 46.3%
2003 14.5% 39.8% 18.3% 47.5%
2002 16.1% 37.8% 25.7% 54.9%
2001 14.5% 33.5% 20.8% 57.5%
2000 14.9% 34.9% 19.3% 57.8%
1999 13.8% 34.6% 26.5% 56.6%
1998 13.4% 37.2% 23.9% 49.9%
1997 12.4% 31.4% 21.6% 40.5%
1996 15.7% 30.1% 18% 15.2%
1995 - - 17.2% 5.12%
1994 - - 16% 6.69%
1993 - - 18.8% 9.14%
1992 - - 17.8% 11.4%
1991 - - 17% 14.1%
1990 - - 16.6% 18%
1989 - - 16.5% 23.7%
1988 - - 15.1% 30.3%
1987 - - 17.5% 38.8%
1986 - - 19.5% 40.1%
1985 - - 20.5% 36.8%
1984 - - 19.3% 30.6%
1983 - - 19.5% 28.9%
1982 - - 20.2% 27.1%
1981 - - 19.1% 24.4%
1980 - - 18.7% 22.1%
1979 - - 16.9% 23.7%
1978 - - 16.6% 22.8%
1977 - - 16.1% 22.4%
1976 - - 15.6% 22%
1975 - - 14.2% 15.8%
1974 - - 13.2% 16.3%
1973 - - 15.9% 21.2%
1972 - - 18.5% 26.8%
1971 - - 18.8% 21.5%
1970 - - 17.6% 18.5%
1969 - - 15.9% 17.7%
1968 - - 16% 15.5%
1967 - - 15.5% 15%
1966 - - 14.7% 14.4%
1965 - - 14.7% 14.8%
1964 - - 13.3% 13.3%
1963 - - 12% 12.6%
1962 - - 11.9% 13.4%
1961 - - 9.58% 12.9%
1960 - - 12.1% 14.3%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1995, retrieved 2026-02-20).

GeoRank.org/economy/cambodia/thailand | CC BY

In 2024, Cambodia's government spending was $8B, accounting for 17.3% of its GDP, while Thailand spent $120B, or 22.7% of GDP.

Debt-to-GDP ratio is 25.9% in Cambodia and 63.2% in Thailand, ranking 164/185 and 74/185, respectively.

Government deficit by year

Deficit/surplus
Cambodia

Thailand
1x
Year Deficit/surplus, % of GDP
Cambodia Thailand
2024 -2.67% -1.29%
2023 -2.83% -1.98%
2022 -0.29% -4.61%
2021 -5.18% -6.74%
2020 -2.53% -4.47%
2019 2.19% 0.43%
2018 0.28% 0.2%
2017 -0.76% -0.42%
2016 -0.29% 0.41%
2015 -0.65% 0.19%
2014 -1.24% -0.7%
2013 -2.01% 0.6%
2012 -3.57% -0.86%
2011 -3.76% 0.09%
2010 -3.09% -1.07%
2009 -3.98% -2.21%
2008 0.43% 0.8%
2007 0.62% 0.22%
2006 -0.15% 1.87%
2005 -0.34% 2.17%
2004 -3.23% 1.11%
2003 -5.69% 1.98%
2002 -6.07% -6.72%
2001 -4.95% -1.77%
2000 -4.76% -1.79%
1999 -3.79% -9.02%
1998 -5.35% -6.29%
1997 -3.7% -1.68%
1996 -7.53% 2.75%
1995 - 3.05%
1994 - 2.78%
1993 - 6.67%
1992 - -0.18%
1991 - 1.6%
1990 - 1.41%
1989 - 0.16%
1988 - 0.58%
1987 - -2.38%
1986 - -4.32%
1985 - -5.11%
1984 - -3.85%
1983 - -4.02%
1982 - -6.18%
1981 - -4.07%
1980 - -4.41%
1979 - -3.62%
1978 - -3.31%
1977 - -2.91%
1976 - -3.35%
1975 - -1.73%
1974 - 1.29%
1973 - -2.7%
1972 - -4.81%
1971 - -5.47%
1970 - -3.73%
1969 - -2.53%
1968 - -2.79%
1967 - -2.1%
1966 - -1.13%
1965 - -1.05%
1964 - -1.01%
1963 - -0.81%
1962 - -0.27%
1961 - 0.05%
1960 - 0.48%
1959 - -1.15%
1958 - -0.91%
1957 - -1.31%
1956 - -1.38%
1955 - -1.65%
1954 - -3.46%
1953 - -3.56%
1952 - -2.4%
1951 - -3.54%
1950 - -0.7%
1949 - 0.7%
1948 - -0.1%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1948–1994, retrieved 2026-02-20).

GeoRank.org/economy/cambodia/thailand | CC BY

In 2024, Cambodia's government deficit, the difference between spending and revenue, was $1.24B, equivalent to 2.67% of GDP. This compares to Thailand's deficit of $6.81B, or 1.29% of GDP.

Over the past 29 years, Cambodia recorded a fiscal deficit in 25 of those years, while Thailand ran a deficit in 16 years. On average, Cambodia posted an annual deficit equal to 2.58% of GDP, compared to deficit of 1.34% of GDP for Thailand.

Inflation comparison by year

Inflation
Cambodia

Thailand
1x
Year Consumer prices inflation
Cambodia Thailand
2024 0.9% 1.37%
2023 2.1% 8.48%
2022 5.3% -1.61%
2021 2.9% 1.23%
2020 2.9% -0.85%
2019 2% 0.71%
2018 2.4% 1.06%
2017 2.9% 0.67%
2016 3% 0.19%
2015 1.2% -0.9%
2014 3.9% 1.9%
2013 2.9% 2.18%
2012 2.9% 3.01%
2011 5.5% 3.81%
2010 4% 3.25%
2009 -0.7% -0.85%
2008 25% 5.47%
2007 7.7% 2.24%
2006 6.1% 4.64%
2005 6.3% 4.54%
2004 3.9% 2.76%
2003 1% 1.8%
2002 0% 0.7%
2001 -0.1% 1.63%
2000 -0.8% 1.59%
1999 2% 0.28%
1998 12.9% 7.99%
1997 10.5% 5.63%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/cambodia/thailand | CC BY

Over the past 28 years, Cambodia has recorded an average annual inflation rate of 4.24%, compared with 2.25% in Thailand. In 2024, inflation was 0.9% in Cambodia and 1.37% in Thailand.

Top exports between countries

Cambodia
Export category Export value
Raw agricultural goods $347M
Machinery & equipment $282M
Metals $117M
Textiles & consumer goods $66.7M
Processed food, beverages & tobacco $23.8M
Raw materials & minerals $4.54M
Wood & paper products $3.4M
Chemicals & pharma $1.18M
Precious metals & jewellery $658K
Animal & marine products $372K
Thailand
Export category Export value
Precious metals & jewellery $3.03B
Raw materials & minerals $1.92B
Processed food, beverages & tobacco $1.54B
Machinery & equipment $1.26B
Chemicals & pharma $574M
Metals $273M
Textiles & consumer goods $264M
Animal & marine products $126M
Wood & paper products $75.9M
Raw agricultural goods $57.1M

Balance of trade

Cambodia Thailand
Current account balance
$228M
2024
$11.6B
2024
Current account balance ranking
65/190
2024
23/190
2024
Current account balance, % of GDP
+0.49%
2024
+2.21%
2024
Goods imports
$31.2B
2024
$276B
2024
Goods exports
$26.8B
2024
$297B
2024
Service imports
$3.08B
2024
$74B
2024
Service exports
$4.97B
2024
$71.9B
2024
Imports of goods and services, % of GDP
72.1%
2024
66.7%
2024
Exports of goods and services, % of GDP
71.4%
2024
70%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Cambodia Thailand
Economic freedom 58.7 62.2
Economic freedom ranking 108/197 88/197
Property rights 38.1 41.8
Government integrity 18.9 38.9
Judicial effectiveness 21.2 35
Tax burden 90.3 80.8
Government spending 89.9 83.6
Fiscal health 92.7 81
Business freedom 60.8 69.9
Labor freedom 48.3 56.4
Monetary freedom 77 73.3
Trade freedom 67.8 70.2
Investment freedom 50 55
Financial freedom 50 60

Economic freedom comparison by year

Cambodia
Thailand
1x
Year Economic freedom index
Cambodia Thailand
2026 58.7 62.2
2025 58.2 60.6
2024 55.6 59
2023 56.5 60.6
2022 57.1 63.2
2021 57.3 69.7
2020 57.3 69.4
2019 57.8 68.3
2018 58.7 67.1
2017 59.5 66.2
2016 57.9 63.9
2015 57.5 62.4
2014 57.4 63.3
2013 58.5 64.1
2012 57.6 64.9
2011 57.9 64.7
2010 56.6 64.1
2009 56.6 63
2008 55.9 62.3
2007 55.9 63.5
2006 56.7 63.3
2005 60 62.5
2004 61.1 63.7
2003 63.7 65.8
2002 60.7 69.1
2001 59.6 68.9
2000 59.3 66.6
1999 59.9 66.9
1998 59.8 67.3
1997 52.8 66.1
1996 - 71
1995 - 71.3

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/cambodia/thailand | CC BY

The Economic Freedom Index for Cambodia is 58.7, ranking 108/197, compared to 62.2 for Thailand, ranking 88/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Cambodia Thailand
Services, % of GDP
35.6%
2024
59.2%
2024
Industry, % of GDP
41.8%
2024
32.1%
2024
Agriculture, forestry, and fishing, % of GDP
16.6%
2024
8.71%
2024
GNI, Atlas method
$44.9B
2024
$509B
2024
GNI per capita, PPP
$7,910
2024
$23,960
2024
Total reserves including gold
$22.5B
2024
$237B
2024
Total reserves ranking
58/177
2024
15/177
2024
Net foreign direct investment
-$4.22B
2024
-$6.95B
2024
Net inflows of foreign direct investment
$4.39B
2024
$14.3B
2024
Net outflows of foreign direct investment
$172M
2024
$7.36B
2024
Servicing debt to the IMF, % of GNI
7.41%
2024
3.52%
2024
Poverty at national poverty lines
17.7%
2012
5.4%
2022
Gross capital formation, % of GDP
32.2%
2024
21.6%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/cambodia/thailand | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1995–2024, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1948–1995, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.