Cambodia’s Booming Customs Revenue in 2024

• 12 February 2025
• Local News
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In a remarkable display of fiscal growth, the Cambodian government announced on 10 February 2025 that it has successfully collected over USD 2 billion in customs duties for the year 2024, marking an impressive increase of over 13% compared to the previous year.

The General Department of Customs and Excise reported that total tax and excise revenues reached a staggering 10,542.2 billion riels, roughly equivalent to USD 2,590.3 million. This figure represents a notable rise of approximately 13.8% from 2023, highlighting the robust economic activities within the nation.

Breaking down the revenue sources, the value-added tax comprised around 41.3% of total revenues, while the special tax contributed approximately 32.1%. Customs duties accounted for 18%, followed by additional taxes on petroleum products at about 4.4%. Export taxes and various other fees also made up around 4.2% of the total revenue collection.

When examining revenue composition by commodity group, miscellaneous goods led with an impressive 34.7%, closely followed by vehicles and machinery at 31.1%. The fuel and energy sector contributed 26.9%, while construction materials and other fees comprised the remaining 7.3%.

The report also highlighted a surge in import trade volume, which reached USD 28,545.4 million, reflecting an 18% increase from 2023. Key imported items included petroleum products, raw materials and machinery for investment, construction materials, vehicles, and various foodstuffs.

On the export front, Cambodia saw trade volumes climb to USD 26,472.8 million, showing a robust 15.8% increase year-over-year. Notable contributions came from garment investment products, which rose by 23.3%. Additionally, non-garment investment products, including tires and electronic components, increased by 2.6%, while agricultural products saw an 11.6% uptick.

While the revenue collection in 2024 showcased strong growth, officials acknowledged that several challenges lie ahead. These include navigating the complexities of free trade agreements, promoting domestic production over imports, adapting to increased tax exemptions aimed at attracting investments and addressing the rising prevalence of tax evasion, especially with the growing popularity of small-cylinder and electric vehicles.

With these developments, Cambodia is poised for continued economic growth as it strives to enhance its trade landscape and build a resilient fiscal framework. The government remains committed to overcoming the challenges ahead to sustain this upward trajectory.

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