Cambodia’s Trade Volume Surges to Over US$31bn in First Seven Months of 2024, Reflecting 15% Growth

• 19 August 2024
• Property Focus
• 1828 Views

In the first seven months of 2024, Cambodia’s international trade volume soared past US$31 billion, reflecting a robust 15% growth compared to the same period in 2023. This significant increase underscores the nation’s expanding trade activities, as currently highlighted by the General Department of Customs and Excise of the Ministry of Economy and Finance.

During this period, Cambodia’s export figures reached over US$14 billion, showcasing a 14% year-on-year growth. The United States emerged as the largest export destination, with Cambodian exports exceeding US$5.5 billion. Other key markets included Vietnam (over US$2.2 billion), China (nearly US$1 billion), Thailand (nearly US$500 million), and Japan (over US$764 million). Additionally, significant exports were recorded to Germany (over US$516 million), Spain (US$560 million), Canada (US$605 million), Britain (US$530 million), and the Netherlands (US$427 million), alongside various other countries.

On the import front, Cambodia brought in goods valued at over US$16 billion, marking an almost 16% increase. China stood out as the leading import source with nearly US$7.7 billion in goods. Other major import partners included Vietnam (more than US$2.4 billion), Thailand (more than US$2 billion), Singapore (US$511 million), Indonesia (US$600 million), Taiwan (US$405 million), South Korea (US$291 million), Malaysia (US$460 million), and Hong Kong (US$ 231 million).

In addition, the report detailed Cambodia’s importation of steel and steel products, which amounted to approximately 352,957 tons during the first seven months of 2024, further highlighting the country’s growing demand for construction materials as its economy continues to expand.

• Business and Market
• Economy and Finance