Cambodia-ASEAN Trade Surpasses USD 10bn in Eight Months, Achieving Over 11% Growth

• Sommana Yan
• 16 October 2024
• Uncategorized
• 1356 Views

Cambodia’s trade volume with ASEAN nations soared past USD 10 billion in the first eight months of 2024, reflecting a remarkable growth of more than 11% compared to the same period last year, as highlighted in a report by the General Department of Customs and Excise, released by the Ministry of Information on 27 September 2024.

The report detailed Cambodia’s export of approximately USD 3.43 billion worth of goods to ASEAN member states, an increase of 10%, while imports surged to USD 7.06 billion, up by 12.5% from 2023.

The trade activity with ASEAN accounted for 28.4% of Cambodia’s total trade volume, which reached around USD 36.9 billion during the eight-month period. Vietnam, Thailand, Singapore, Indonesia, and Malaysia emerged as the top five trading partners within the ASEAN bloc, underscoring their significance in Cambodia’s economic landscape.

In a broader regional context, ASEAN’s bilateral trade with China reached USD546.6 billion in the first seven months of 2024, growing by 10.5% from the previous year. (Read more)

Among the ASEAN nations, Vietnam, Malaysia, and Indonesia stood out as China’s leading trading partners, contributing 24.1%, 13.7%, and 4.1% of trade revenue, respectively.  This upward trend in trade showcases Cambodia’s strengthening economic ties within the ASEAN region, boosting the nation’s economic integration and expanding its role in regional trade networks.

• Business and Market
• Economy and Finance