PHNOM PENH: According to data released by the General Department of Customs and Excise (GDCE) on Wednesday, Cambodia’s exports surged in the first half of 2024, reaching US$12.29 billion, a 12.6% increase compared to the same period last year. The United States remained the top destination for Cambodian exports.
However, imports also rose by 12.8% to US$13.8 billion during the same period. Total trade between Cambodia and its partners reached US$26.1 billion, reflecting a 12.7% year-on-year growth.
The Ministry of Commerce attributed the export growth to free trade agreements like the Cambodia-China Free Trade Agreement and the Regional Comprehensive Economic Partnership (RCEP).
Despite global challenges like war and weakening purchasing power, Cambodia managed to maintain high order volumes overall. While there were declines in some export items, these were offset by increases in others.
The United States remained the top destination for Cambodian exports, accounting for US$4.4 billion. Vietnam and China followed closely behind with US$2 billion and US$814 million respectively.
Cambodia’s main exports include garments, machinery, electrical equipment, footwear, leather goods, grains, furniture, rubber, fruits, vegetables, pearls, toys, and textiles. The garment, footwear, and travel goods industry remains the country’s leading source of foreign income.
Cambodia primarily imports medicines, supplements, consumables, food, and beverages.