Cambodia's trade turnover over $19.2 bn in Jan-May 2023; 14% YoY drop

18 Jun '23

1 min read

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Cambodia's trade turnover with global partners topped $19.2 billion in the first five months this year, a 14 per cent year on year (YoY) decline, government statistics show.
The country exported goods worth nearly $9.2 billion during the period—down by 2.4 per cent YoY, while imports accounted for more than $10 billion—a sharp fall of 22.6 per cent YoY.

Cambodia’s total trade turnover with global partners topped $19.2 billion in the first five months this year, a 14 per cent year on year (YoY) decline, according to data from the ministry of economy and finance.

The country exported goods worth nearly $9.2 billion during the period, down by 2.4 per cent YoY, while imports accounted for more than $10 billion, a sharp fall of 22.6 per cent YoY.

Commerce minister Pan Sorasak attributed the decline in exports to geopolitical tensions and the impact of the COVID-19 pandemic.

However, the situation is expected to see a brighter outlook in the remaining months of the year.

The country primarily imports raw and construction materials, automobiles, pharmaceuticals, electronic equipment, fertilisers and pesticides, while its main exports comprise garments, footwear, travel goods, bicycles, rice, electrical appliances, rubber, furniture and vegetables.

Cambodia’s 10 biggest markets are the United States, China, Japan, Canada, Germany, Vietnam, Thailand, Singapore, Indonesia and Taiwan.

ALCHEMPro News Desk (DS)

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