PHNOM PENH: Cambodia’s exports were valued at $18.59 billion in the first ten months of 2023, inching up 0.2 percent over the same period last year, a report of the General Department of Customs and Excise showed last week.
Cambodia’s top three markets during the said period were the U.S., Vietnam, and China with export values of $7.49 billion, $2.26 billion, and $1.17 billion, respectively, read the report.
The Kingdom’s main exported products are generally garments, machinery and electrical equipment, footwear products, leather goods, grain, furniture, rubber, fruits, vegetables, pearls, toys, and textiles.
The garment, footwear, and travel goods industry is the largest foreign exchange earner for Cambodia. They consist of roughly 1,133 factories and branches, employing approximately 840,000 workers, mostly female.
Ministry of Commerce’s Secretary of State H.E. Penn Sovicheat said free trade pacts – Regional Comprehensive Economic Partnership agreement, the Cambodia-China Free Trade Agreement, and the Cambodia-Korea Free Trade Agreement – have given an impetus to Cambodia’s export growth.
“The free trade pacts are catalysts for Cambodia’s long-term and sustainable export growth and can attract more foreign direct investments to Cambodia,” he said.
At the same time, Cambodia’s total imports dropped by 6 percent to $20.07 billion, the report pointed out. The country primarily imports raw and construction materials, automobiles, pharmaceuticals, electronic equipment, fertilizers, and pesticides.