PHNOM PENH: Cambodia exported almost US$9 billion worth of products to the market in the United States of America in 2022.
The figure represents an increase of 19.7 percent compared to the same period last year, according to the latest report from the General Department of Customs and Excise (GDCE) at the Ministry of Economy and Finance.
At the same time, Cambodia imported more than US$312 million worth of goods from the U.S., a year-on-year decrease of 7.1 percent, said the report. Cambodia’s major exports to the U.S. include textiles, footwear, travel goods, and agricultural products, while its main imports from the U.S. are vehicles, animal feeds, and machinery.
Cambodia exported a total of $5,671 million in goods to Regional Comprehensive Economic Partnership (RCEP) countries in the first eleven months of 2022, a 5% increase over the same period last year
The RCEP free trade agreement entered into force on January 1, 2022. The regional trade pact comprises 15 Asia-Pacific countries including the 10 member states of the Association of Southeast Asian Nations (ASEAN). Over the next 20 years, the mega-regional agreement will eliminate up to 90% of tariffs on goods traded among its signatories.
At the same time, China is the largest market for goods imported into Cambodia, with a total value of $9,470 million, followed by Vietnam, Thailand, and Singapore, with $3,617 million, $3,542 million, and $3,169 million, respectively.