Cambodia’s Trade Volume Hits US$17bn in First Five Months of 2024, Down 10%

• 7 June 2024
• Local News
• 1138 Views

In the first five months of 2024, Cambodia’s trade volume reached approximately US$17 billion, marking a 10% decrease compared to the same period in 2023. This decline, reported by HE Sok Sopheak, Secretary of State and spokesperson for the Ministry of Commerce, was attributed to sluggish overseas consumer markets and inflation in buyer countries. The data was sourced from AKP on 4 June 2024.

The decrease in trade volume is largely due to slowdowns in maritime transport and economic challenges in key international markets. Despite this, Cambodia’s exports are expected to grow by nearly 10% for the entire year of 2024, bolstered by increasing regional trade.

During this period, Cambodia’s primary exports included clothing, footwear, bags, textile products, bicycles, electronics, and related components. On the import side, the country mainly brought in medicines, supplements, consumables, food, beverages, and purified water to meet the demands of tourists.

In 2023, Cambodia’s trade volume surpassed US$46.8 billion, with major trading partners including China, the United States, the European Union, Vietnam, Thailand, Japan, and other significant markets in the ASEAN region.

• Business and Market
• Economy and Finance