Cambodia’s International Trade Tops US$52 Billion Last Year

Cambodia’s international trade in 2022 totaled more than US$52 billion, an increase by 9.2 percent over 2021, while Cambodia’s exports rose by more than 16 percent.

Last year, Cambodia exported US$22.4 billion worth of goods to international markets, up 16.4 percent compared to a year before, and imported US$29.9 billion, up 4.3 percent, according to data from the General Department of Customs and Excise of the Ministry of Economy and Finance.

Cambodia’s main products exported were garments, textile, footwear, machinery and electrical equipment, leather goods, grain, furniture, rubber, as well as other products such as fruits, vegetables, pearls, and toys.

Ministry of Commerce’s Under-Secretary of State and Spokesperson H.E. Penn Sovicheat has attributed the increase in the exports of all kinds of goods to the fact that Cambodia has fully implemented the Regional Comprehensive Economic Partnership (RCEP), through which all 15 markets of RCEP member countries have absorbed a lot of goods from the Kingdom under low tax rates.

Additionally, exporters are also taking advantage of the free trade agreement between Cambodia and China, and trade preferences in the EU and U.S. markets.

Source: Agency Kampuchea Press