PHNOM PENH: Cambodia’s trade with the European Union (EU) rose by 5.4 percent to US$1,074 million in the first three months of this year, a report of the General Department of Customs and Excise showed.
From January to March, the Kingdom exported US$903 million worth of goods to the EU, up 11.9 percent from the US$807 million in the same period last year, it pointed out.
Imports from the EU decreased by 19.4 percent to US$171.4 million, the report added.
According to the same source, Germany and Spain were Cambodia’s biggest trade partners in the EU with bilateral trade volume of US$226 million and US$212 million, respectively.
Cambodia mainly exports textiles, footwear, bicycles, foodstuffs, milled rice, and other agricultural products to the EU under the trade preference, Everything But Arms (EBA) scheme.
The EU has reiterated its commitment to support Cambodia’s graduation from the least developed country (LDC) status, saying that it is ready to talk with the Cambodian side on the new trade scheme, Generalised Scheme of Preferences Plus (GSP+).
The Cambodia-EU total trade was worth US$4.61 billion in 2023, a drop by nearly five percent from US$4.85 billion in 2022, said the Ministry of Commerce.
Of the figure, Cambodia exported US$3.66 billion worth of goods to the EU, a 9 percent year-on-year decrease from US$4.04 billion.