Cambodia’s Exports Surge to Over US$20bn, Marking a Resilient 1.2% Growth in 2023

• 15 December 2023
• Local News
• 1003 Views

Cambodia has recorded a noteworthy surge in exports, surpassing the US$20 billion mark in the first 11 months of 2023. The General Department of Customs and Excise of Cambodia reports a commendable 1.2% increase compared to the corresponding period in 2022, showcasing the nation’s steadfast position in the global trade landscape.

From January to November 2023, Cambodia’s trade volume with China demonstrated robust growth, reaching US$1.314 billion, reflecting an 18.5% increase. Import figures also surged, amounting to US$9.763 billion US dollars, marking a substantial 44.4% rise.

While Cambodia’s exports to the United States exceeded US$8 billion, registering a marginal 0.9% decrease, trade relations with Vietnam witnessed significant growth, surpassing US$2 billion, marking a remarkable 37.8% increase. The exports to Japan, although slightly decreased by 0.3%, remained substantial, exceeding US$1 billion. The diversification of markets underlines Cambodia’s strategic approach to global trade partnerships.

Noteworthy export items include garments and accessories, machinery, electrical equipment, rubber products, and various agricultural goods. On the import front, Cambodia procured minerals, fuel, machinery, electrical equipment, fibers, and EV vehicle spare part, and a spectrum of materials vital for its thriving industries.

• Business and Market
• Economy and Finance