Cambodia’s export turnover slightly rises in 11 months

Established time - December 15, 2023

Cambodia exported nearly $20.5 billion worth of goods in the first 11 months of 2023, a slight increase of 1.2% year-on-year, according to a report released recently by the General Department of Customs and Excise.

Cambodia’s top five export markets in the reviewed period were the US, Vietnam, China, Thailand and Japan. The US retained its position as the largest importer of the Southeast Asian nation during this period as it spent $14 billion on imports from Cambodia, down 0.9% over the same period last year.

Meanwhile, Cambodia’s export turnover to Vietnam and China surged by 37.8% and 18.5% to $2.61 billion and $1.31 billion, respectively, in the January – November period.

The garment, footwear and tourism were the industries that brought in the largest foreign exchange revenue for Cambodia. The Southeast Asian nation is home to 1,133 plants and branches operating in these fields, creating jobs for about 840,000 labourers.

SokSiphana, Senior Minister in Charge of International and Multilateral Trade and Economic Relations, said trade incentives of the Regional Comprehensive Economic Partnership (RCEP) have helped further promote trade and investment activities.

The RCEP has brought great market access opportunities to Cambodian products and is a source for sustainable economic development of the country in the coming years, he said. VNA

Reference from: https://www.khmertimeskh.com/501407510/cambodias-export-turnover-slightly-rises-in-11-months/