Cambodia’s goods exports in the first half this year (H1 2022) were worth $11.37 billion, a 33.9 per cent rise from the same period last year, according to figures from the general department of customs and excise. Imports rose by 11.9 per cent to $15.86 billion during that period, resulting in a trade deficit at $4.48 billion, a 21 per cent fall compared to last year.
The country’s total trade volume was worth $27.2 billion in H1 2022, up by 20 per cent from $22.6 billion over the same period last year.
Cambodia’s goods exports in the first half this year were worth $11.37 billion, a 33.9 per cent rise from the same period last year, according to figures from the general department of customs and excise. Imports rose by 11.9 per cent to $15.86 billion during that period, resulting in a trade deficit at $4.48 billion, a 21 per cent fall compared to last year
The high growth in exports was reportedly driven by the resumption of socio-economic activities, trade preferences in the Regional Cooperation Economic Partnership and the bilateral free trade agreement with China.
The United States remained the largest market for Cambodian exports in H1 2022 with exports worth $4.64 billion, up by 54 per cent from the same period last year. It was followed by Vietnam with a 3.4 per cent growth in exports at $1.17 billion.
Clothing, footwear and travel goods comprised over 50 per cent of Cambodia’s total exports in the first six months, Cambodian media reported.
China is the largest trading partner of Cambodia, followed by the United States, Vietnam, Thailand and Singapore, a government report said, adding the Sino-Cambodian trade volume rose by 19.7 per cent to $5.98 billion in the first half.
Cambodia imported $5.37 billion worth of goods from China, a 24.2 per cent increase year on year.
Fibre2Fashion News Desk (DS)
