Thailand
Cambodia: Kingdom exports to Thailand surge 10% to $480 million
Cambodia’s exports to Thailand are growing steadily, a sign of economic growth across all sectors and rising demand for goods, particularly agricultural products.
Cambodia exported $480 million worth of goods to Thailand in the first five months of this year, a year-on-year increase of 10 percent, according to a report from the General Department of Customs and Excise.
Meanwhile, Thailand’s export to Cambodia decreased by 14 percent to $1,400 million in the first five months of 2023.
Thai Business Council in Cambodia (TBCC) president Jiranun Wongmonkol said that the increase in exports indicated demand for Cambodia’s products in Thailand.
“While Thai imports to Cambodia declined, we see that Cambodia’s exports to Thailand in the first five months of 2023 have increased significantly, indicating a significant growth momentum for Cambodia, especially in the industrial and agricultural sectors, which are important parts for Cambodia’s economic growth,” she told reporters during a business event last week.
She said the decrease in imports from Thailand is due to the setting up of factories in Cambodia by Thailand investors to supply products in the Kingdom.
After Cambodia recovered from the Covid-19 pandemic, businesspeople and production owners often exchanged views and information regarding the business potential in the country, she said.
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.
Minister of Commerce Pan Sorasak has urged all stakeholders to continue working hard to attain the target of $15 billion Cambodia-Thailand bilateral trade volume in 2025.
He also asked relevant parties from both countries to study, discuss and express commitment towards future bilateral cooperation on trade and investment.
Source: https://www.khmertimeskh.com/501315920/kingdom-exports-to-thailand-surge-10-to-480-million/