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Increasing exports reflect Cambodia’s production and supply capacity
Cambodia’s total exports were valued at $11.37 billion in the first half of 2022, up 33.9 percent compared to the same period last year, according to a report from the General Department of Customs and Excise.
The U.S. is the country’s biggest market, stated the report, underlining that the amount of Cambodian exports to this world’s largest economic nation is 54 percent increase year-on-year, accounting for 51.8 percent of the total exports.
The exports to the U.S. market have increased although the export of travel goods has been made without the U.S.’ Generalized System of Preferences (GSP), said Penn Sovicheat, Under Secretary of State at the Ministry of Commerce.
“Cambodia’s exports to the U.S. market, although Cambodia has not yet received the renewed GSP status, have reached a high level, reflecting the production capacity and supply market of Cambodia,” he told a press conference organised here on July 21 by the Royal Government Spokesperson Unit.
Cambodia has exported travel goods to the U.S. under the GSP status, which was officially announced in 2016. The GSP, offered to the Least Developed Countries, was expired in December last year.
Other goods – textile, electronic components, and bicycles etc. – are exported to the U.S. under the “Most-Favoured-Nation”. Chea Vannak – AKP