Cambodia has witnessed a notable surge in its trade activities with fellow ASEAN countries, registering an 18.64 percent increase to reach $4.32 billion in the initial quarter of this year. This development is detailed in a recent report from the Ministry of Commerce, highlighting the country’s expanding economic interactions within the region.
The period from January to March saw Cambodia’s exports to ASEAN countries hit $1.77 billion, marking a significant 33.1 percent growth compared to the same period in the previous year. This uptick in exports contributed substantially to the overall trade increase. On the flip side, the nation’s imports from ASEAN partners also exhibited growth, albeit at a lower rate of 10.31 percent, culminating in a total of $2.55 billion.
Vietnam and Thailand emerged as Cambodia’s largest trading allies in the region, with trade volumes reaching $2.32 billion and $1.12 billion, respectively. These figures underscore the pivotal role these countries play in Cambodia’s trade dynamics.
The export portfolio to ASEAN countries is diverse, encompassing a range of products including agricultural items, apparel, footwear, travel goods, electronics, and bicycles. In contrast, the import list from ASEAN nations is comprised of food products, beverages, electrical and electronic equipment, construction materials, as well as agricultural machinery and vehicles.
Specific exports to countries like Brunei have been pinpointed for particular products, with milled rice and tyre products leading the way. Similarly, milled rice and solar panels form the bulk of Cambodia’s exports to Indonesia. A deeper dive into the trade figures reveals the export of paddy rice to Vietnam valued at $571 million, alongside other significant exports including cashew nuts, cassava, rubber, fresh mango, and refined sugar, totaling millions of dollars.
This upward trajectory in trade volumes indicates a strengthening of economic ties between Cambodia and its ASEAN counterparts. The diverse range of exported and imported goods also reflects the broadening scope of trade relations, promising further growth and collaboration within the region.
Source: Khmer Times
