Based on the historical data and future forecasts from 2013 to 2028, the exports of ICT services in Cambodia show significant fluctuations. The year-on-year variations highlight periods of both impressive growth and notable decline. For example, 2022 marked a significant increase by nearly 40%, reflecting a strong recovery, but 2023 showed an 11% drop, bringing the exports to 106.18 million US Dollars. The five-year CAGR from 2018 to 2023 was approximately 10.18%, indicating robust average annual growth over this period, despite interannual volatility.
Looking ahead to 2028, the forecasted CAGR is much more modest at 1.56%. This suggests that while the growth continues, it is expected to be at a more stable and sustainable pace compared to the volatility observed in the past decade. The total growth rate between 2023 and 2028 is projected to be around 8.02%, proposing a steady, if slower, increase in the export value.
Future trends to watch for include:
- The impact of global economic conditions on service demand
- Technological advancements and their adoption within Cambodia
- Policy changes affecting the ICT sector
- Increasing competition from other nations expanding their ICT capabilities
