English
Cambodia’s exports to China down 19.1%
In January-November 2022, Cambodia exported $1.1 billion worth of goods to China, down 19.1 percent compared to the same period last year, according to data from the General Department of Customs and Excise.
In the 11 months of 2022, Cambodia spent about $8.36 billion on imports from China, according to the data. It’s an increase of 10.4 percent over the same period last year.
Lim Heng, vice president of the Cambodia Chamber of Commerce, told Khmer Times that “the decline was due to China’s ‘zero-Covid’ policy, which imposed tougher restrictions on the transport of goods. It also affected the transportation of goods from Cambodia to China.
Recently, however, Beijing has begun easing curbs, which is expected to boost Cambodia’s exports to China.”
Trade preferences under the RCEP (Regional Comprehensive Economic Partnership), Cambodia-China free trade agreement (FTA), and other trade preferences – EBA (Everything But Arms) and GSP (Generalised System of Preference ) – have given impetus to Cambodia’s export growth, attracting more investments to the Kingdom
It will increase trade volume between the two countries and create more export opportunities, particularly attracting new foreign investment to Cambodia to produce and process for export to the Chinese market under the trade preference, he pointed out
Penn Sovicheat, Ministry of Commerce’s undersecretary of state and spokesman, told Khmer Times, he is optimistic about further improvement in trade ties with China as Cambodia is keen to export more agricultural products to Beijing.
He also hailed the roles of CCFTA (China-Cambodia Free Trade. Agreement) and RCEP for enhancing the country’s agricultural and fruit exports to China.
Cambodia’s export to the Chinese market, include rice, cassava, fresh bananas, and some other agricultural products. It imports from China raw materials, textiles, garments, construction materials, electronics, daily necessities, and construction materials, among others.
According to the General Department of Customs and Excise, in January-November of 2022 Cambodia’s international trade amounted to $48.20 billion, an increase of 12.8 percent compared to the same period in 2021. Of this, imports amounted to $27.74 billion, an increase of 9.2 percent, and exports were worth $20.45 billion, up 18.1 percent. Cambodia’s trade deficit is about $7.28 billion.
Source: https://www.khmertimeskh.com/501202829/cambodias-exports-to-china-down-19-1/