Thailand
Cambodia, Thailand trade hits $2,913 million in Q1
Bilateral trade between Cambodia and Thailand increased as both sides eased Covid-19 restrictions leading to the opening of the borders for goods and people.
The two-way trade between the two Kingdoms reached $2,913 million in the January-April period, a year-on-year increase of 8.04 percent, according to data from Thailand’s Ministry of Commerce.
From January to April, Cambodia exported $458 million worth of goods to Thailand, a 13.53 percent increase compared to the same period last year.
The Kingdom imported $2,455 million worth of products from Thailand, a 7.08 percent increase year-on-year, read the data.
The two countries are expected to see the bilateral trade volume increase from this year, according to the Thai Business Council in Cambodia (TBCC).
TBCC president Jiranan Wongmongkul said yesterday that bilateral trade between the neighbours grew remarkably year on year in the pre-pandemic period, with both sides hoping to boost trade volume up to $15 billion by 2023.
“As Cambodia reopened after the Covid-19 crisis, trade volume between the two countries will recover during 2022,” she said.
Penn Sovicheat, under-secretary of state and spokesperson at the Ministry of Commerce said, the inflow of goods across the border will boost trade activities and push trade volume.
“During the pandemic, movement of goods was disrupted… now the flow is smooth, which will increase trade volume,” he said.
Bilateral trade between Cambodia and Thailand was valued at $7.97 billion last year, a 10.26 percent increase compared to a year before.
The Kingdom imported over $7 billion worth of goods from the neighbouring country, which is 16.37 percent year-on-year increase.
Cambodia’s main exports to Thailand include textiles, agricultural products, gems, raw materials and semi-finished products.
Imports from Thailand include fish, meat, vegetables, automobiles, organic fertilisers, foodstuffs, and construction materials.
Source: https://www.khmertimeskh.com/501090713/cambodia-thailand-trade-hits-2913-million-in-q1/