Cambodia's economy expanded by about 7 percent this year on the back of the robust growth of its garment industry, as well as strong growth in the property and tourism sectors and an improved agriculture sector, according to the central bank.

In its annual macroeconomic and banking report released Monday, the National Bank of Cambodia estimated that Cambodia attracted foreign direct investment equivalent to 10 percent of GDP in 2016, while inflation averaged 2.9 percent.

The report also projected that the growth of bank credit, which topped 28 percent last year, slowed to 23 percent this year and would cool to 21 percent in 2017.