PHNOM PENH: Cambodia’s international trade volume reached over US$36.48 billion in the first eight months of 2024, up 16.5 percent from US$31.32 billion recorded in the same period last year, said an official report released on Tuesday.
From January to August this year, Cambodia’s total exports were amounted to US$17.58 billion, a year-on-year increase by 16.7 percent, while her total imports were valued at US$18.9 billion, up 16.2 percent, according to the General Department of Customs and Excise’s report.
China remained the top trading partner of Cambodia during the period, followed by the United States, Vietnam, Thailand, and Japan, the source pointed out.
Cambodia’s Free Trade Agreements with China and Korea and the Regional Comprehensive Economic Partnership (RCEP) have contributed to the rise in trade, Secretary of State and Spokesperson for the Ministry of Commerce H.E. Penn Sovicheat said.
“RCEP and the Cambodia-China Free Trade Agreement have given a significant boost to the trade growth,” he underlined.
Cambodia’s main exported products are garments, machinery, electrical equipment, footwear products, leather goods, grain, furniture, rubber, fruits, vegetables, pearls, toys and textiles. Her major imports include medicines and supplements, consumables and food and beverages.
The garment, footwear and travel goods industry is the largest foreign exchange earner for Cambodia. The sector consists of roughly 1,300 factories, employing approximately 850,000 workers, mostly female.