A significant rise in exports to China was, however, observed, with a rise of over 18 per cent YoY during the period. The country exported goods worth $1.3 billion to China—up from $1.1 billion in the corresponding period last year.
China is the third-largest export destination for Cambodia after the United States and Vietnam.
The main contributors to Cambodia’s export growth were garments, footwear, and travel goods, a news agency reported.
The government attributes this growth to the implementation of the Regional Comprehensive Economic Partnership agreement and the Cambodia-China Free Trade Agreement, both of which came into force last year.
The country’s export sector is expected to continue its positive trajectory.
The recent signing of the Cambodian-Australian Free Trade Agreement and underway negotiations for the Cambodia-European Union Free Trade Agreement are likely to open up new avenues for export growth.
ALCHEMPro News Desk (DS)
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