Cambodia’s international trade declined by 14.5 pct in Q1 to $11.25 billion

• Apr 11, 2023

Cambodia recorded $11.25 billion in its international trade during the first quarter (Q1) of 2023, down 14.5 percent from $13.16 billion over the same period last year, said an official report released Monday.

The kingdom’s total export was valued at $5.39 billion during the January-March period this year, down 5.7 percent year-on-year, and total import was registered at $5.86 billion, down 21.3 percent, according to the General Department of Customs and Excise’s report.

The report showed that the Southeast Asian nation exported garment, footwear and travel goods products worth $2.42 billion in Q1 this year, down 22 percent from $3.12 billion in the same period last year.

The garment, footwear and travel goods industry is the largest foreign exchange earner for Cambodia. The sector consists of roughly 1,100 factories and branches, employing about 750,000 workers, mostly female.

Cambodian Prime Minister Hun Sen said last month that the current global economic situation was not good, both in the United States and Europe, and that although the problem was not serious yet, it has affected the global economy through inflation.

He added that people in those countries have earned less income, so purchase orders from those countries are also declining. Xinhua