Cambodia earns $6 billion from exports in five months

• Jul 09, 2021

Cambodia exported nearly $6 billion worth of goods in the first five months of this year, an increase of 1.6% compared to the same period last year.

This was disclosed in the Ministry of Economy and Finance socio-economic trends recent report where it also said that in the first five months, exports reached $5,982 million (20.8% of GDP), an increase of 1.6% over the same period last year, due to the increase in exports of bicycles and other goods.

It said that imports of goods (excluding gold) reached $8,664 million (equivalent to 30.2% of GDP), an increase of 17% over the same period last year due  to the increase in imports of fabrics, construction materials, fuel and other goods.

“The Cambodian economy is still affected by the Covid-19 crisis, especially the February 20 community event, which has dragged on to the present day and put pressure on key indicators of economic growth,” the report said.

The report also said that as of May 2021, that there has been a decline in the exports of garments, the number of national and international tourists, activities in the construction sector and foreign investment.

However, exports of garments and other goods such as bicycles, electronic components, wood products and other agricultural products continued to grow well, it said.

The report emphasises that overall, the Cambodian economy is expected to grow positively in 2021 due to the recovery of the global economic situation and the economy of Cambodia’s trading partners, the increase in demand for agricultural products and the possibility of diversion orders and garment factories from Myanmar to Cambodia.

Source: https://www.khmertimeskh.com/50890953/cambodia-earns-6-billion-from-exports-in-five-months/