Cambodia exported products worth $23.93 billion in the first 11 months of 2024, up 16.8 percent over the same period last year, said a report from the General Department of Customs and Excise released on Tuesday.
The report showed that the main exported goods included garments, footwear, travel goods, bicycles, car tyres, and potential agricultural produce such as rice, rubber, cassava, bananas, mangoes, and longans.
The report added that the top five export destinations for the Southeast Asian country are the United States, Vietnam, China, Japan, and Canada.
Meanwhile, the report said the kingdom recorded a total import of $25.94 billion during the January-November period this year, up 17.9 per cent from last year.
It added that the main imported products included petroleum, raw materials for garments, footwear, and travel goods, vehicles, machinery, electronic appliances, and consumer products.
Cambodian Prime Minister Hun Manet said regional and bilateral free trade agreements (FTAs) have provided large market access for Made-in-Cambodia products.
He said that through the Regional Comprehensive Economic Partnership (RCEP), Cambodia offered investors and exporters a market of 2.3 billion people, representing almost one-third of the global GDP.
“Our bilateral free trade agreements with China and South Korea coupled with our latest Comprehensive Economic Partnership Agreement with the United Arab Emirates open doors to some of the world’s most vibrant economies,” Manet said in a speech during a recent economic and technology summit in Phnom Penh.
Ministry of Commerce’s Secretary of State and Spokesperson Penn Sovicheat said the RCEP and bilateral FTAs greatly boosted Cambodia’s trade growth.
“These FTAs have served as a catalyst for our long-term and sustainable trade growth,” he told Xinhua. “They are also a magnet to attract more foreign direct investments to Cambodia.”
RCEP comprises 15 Asia-Pacific countries including 10 ASEAN member states — Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam — and their five trading partners, namely China, Japan, South Korea, Australia and New Zealand. Xinhua
