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Cambodia’s exports to US up 37% this year: GDCE

In the eight months of 2022, Cambodia’s exports to the US touched $6.4 billion, an increase of 37 percent compared to the same period in 2021, which was at $4.6 billion, General Department of Customs and Excise of Cambodia (GDCE) said in its latest report.

Imports from the US to Cambodia were at $224 million, a decrease of 3.5 percent, compared to the same period in 2021 at
$232 million.

Most of the goods Cambodia exports include clothing, shoes, travel goods, and agriculture products. From the US, it imports cars, electronics, medicines and medical equipment.

Cambodia-US trade relations have had significant growth over the last few years. In 2021, Cambodia-US trade volume was more than $7.8 billion. In addition, Cambodia’s exports amounted
to $7,490 million to the US market, while the US imports from Cambodia were more than $336 million.

Hong Vannak, economic researcher at the Royal Academy of Cambodia, told Khmer Times that the positive trade performance between the two countries was
due to good diplomatic and business relations.

From commercial data, it was observed that demand for products from Cambodia is higher – especially for clothes, shoes, bicycles and travel goods.

“I am optimistic that Cambodia’s export market will be even larger in the future,” he said.

Ky Sereyvath, also an economist at the Royal Academy of Cambodia, told Khmer Times that the early reopening of the economy had helped the revival of the production chain leading to a surge in exports.

“There was also relocation of factories from neighbouring countries to Cambodia to take advantage of the early reopening of the economy and this has also contributed to the spike in production and exports,” he pointed out.

Source: https://www.khmertimeskh.com/501150836/cambodias-exports-to-us-up-37-this-year-gdce/