Cambodia’s Trade Surges: Exports & Trade Volume Reach Record Highs

• Sommana Yan
• 11 May 2024
• Local News
• 3607 Views

Cambodia has witnessed a remarkable surge in its trade volume and exports during the first four months of 2024, with trade volume exceeding US$16 billion, marking an impressive growth of nearly 12%. This growth trend was paralleled by a corresponding rise in exports, also reaching nearly 12%.

The Minister of Commerce, Lok Chumteav Chamnimol, unveiled these promising statistics during the inauguration of the “Cambodia International Trade Fair 2024” on 10 May, held at the Koh Pich Convention and Exhibition Centre.

“During the initial four months of 2024, Cambodia’s trade volume soared to over US$16,913 million, accompanied by exports amounting to approximately US$8 billion,” stated Minister Chamnimol. She hailed this expansion as indicative of Cambodia’s vibrant trade sector, which continues to underpin the nation’s economic vitality. Furthermore, she reiterated the government’s dedication to fostering a conducive environment for further business growth and development.

The “Cambodia International Trade Fair 2024” was strategically organised to attract over 2,500 international business delegates from 16 countries, facilitating opportunities for exploring trade, investment, and collaboration avenues within Cambodia’s thriving market.

A report from the General Department of Customs and Excise revealed that Cambodia’s exports surpassed US$8 billion in value, while imports totalled over US$8.6 billion during the same period, reflecting a notable uptick of 9.3% compared to 2023 figures.

Of significance, Cambodia stands as the primary exporter to a diverse array of countries including the United States, Vietnam, China, Japan, Thailand, Canada, Britain, Germany, Spain, the Netherlands, France, and Hong Kong, among others, solidifying its pivotal role in global trade relations.

• Business and Market
• Economy and Finance