Sihanoukville SEZ Soars: Records Exports & Imports Worth US$ 3.6bn in 2023

• 31 January 2024
• Local News
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In a remarkable economic feat, the Sihanoukville Special Economic Zone (SEZ) achieved a momentous milestone in 2023, reporting a substantial trade volume of approximately US$ 3.662 billion in exports and imports combined. The SEZ report unveiled on 29 January 2024, underscores its pivotal role, constituting a notable 7.18% share of the nation’s total trade volume, which stood at US$46.83 billion.

Remarkably, the SEZ’s trade volume witnessed an impressive surge, marking a 34.86% increase compared to the previous year. This robust growth solidifies Sihanoukville’s status as a key player in Cambodia’s economic landscape.

Throughout 2023, the Sihanoukville SEZ attracted 12 new investment companies, expanding its global footprint to encompass 180 companies. This influx of investments not only fortifies economic ties but also contributes significantly to the local job market, creating approximately 30,000 employment opportunities for Cambodian workers.

The nation, as a whole, experienced commendable economic performance in 2023, with Cambodia’s exports reaching over US$22.65 billion, reflecting a 1.8% increase from 2022. Concurrently, imports amounted to US$24.18 billion, demonstrating a 5% reduction from the previous year’s figure of US$25.46 billion. The overall international trade volume for 2023 registered at US$46.83 billion, signalling a marginal decline of 1.9% compared to 2022. The trade deficit in 2023 was about US$1.54 billion, down from US$3.21 billion in 2022.

• Business and Market
• Economy and Finance