Main Takeaways
- Cambodia’s exports to Vietnam grew by 32.1% in 2024.
- Imports from Vietnam increased by 14.5%.
- Total exports to international markets rose by 16%.
PHNOM PENH: Cambodia exported some US$2.9 billion worth of products to Vietnam in the first ten months of 2024, an increase of 32.1 percent compared to the same period last year, a report from the General Department of Customs and Excise of Cambodia revealed recently.
The main exported products included garments, fabric accessories, electrical machinery and appliances, agricultural products, and so on. These exports form the backbone of the economy, contributing significantly to revenue and employment. The garment industry, in particular, plays a crucial role, producing a variety of clothing items for leading international brands and driving economic growth through its extensive supply chains. Fabric accessories, which complement the garment sector, add value through specialized production techniques and skilled labor.
Electrical machinery and appliances represent another vital category, encompassing products such as consumer electronics, industrial equipment, and other technological goods that cater to the growing global demand. The strong export performance in this sector highlights the country’s developing manufacturing capabilities and its integration into international supply networks.
Agricultural products, including rice, rubber, and various fruits, are also important contributors to the export landscape. These products showcase the country’s rich agricultural heritage and the potential for sustainable growth in the agribusiness sector. With a focus on quality and competitive pricing, these exports continue to attract markets around the world.
Additional key exports might include footwear, textiles, and construction materials, each playing a strategic role in enhancing trade relations and economic diversification. By leveraging its strategic location, improving infrastructure, and fostering trade agreements, the country aims to boost its export portfolio and secure its position as a competitive player in the global market.
At the same time, the Kingdom imported US$3.4 billion worth of products from Vietnam, up 14.5 percent compared to the same period in the previous year, the report said, adding that mineral fuels, mineral oil and refined products, electrical machinery and appliances and their components, artificial short fibers, etc. were among the main Vietnamese products imported by Cambodia during the said period.
From January to October 2024, Cambodia’s total exports to international markets were valued at US$21.57 billion, up 16 percent, of which more than US$8.2 billion to the U.S. (up 9.8 percent), over US$1.4 billion to China (up 21.1 percent), more than US$1.1 billion to Japan (up 18 percent), and the rest to other markets.
In 2022, these exports amounted to about $3.67 billion, reflecting an annual growth rate of 26.3% over the past five years. The significant share of agricultural products highlights Cambodia’s role as a supplier of raw materials, particularly in the agricultural sector.