Cambodia’s international trade was up 16.7% in January

Cambodia’s international trade was up 16.7% in January

Cambodia’s foreign trade volume hit $4.05 billion in January 2024, up 16.7 percent from $3.47 billion in the same month last year, an official report showed on February 12, 2024.

The kingdom’s total exports amounted to $1.96 billion in January this year, up 27 percent compared to January last year, and total imports reached $2.09 billion, up 8.7 percent, according to the General Department of Customs and Excise’s report.

China is the biggest trading partner of Cambodia, followed by Vietnam, the United States, Thailand, and Japan, the report said.

Cambodia exported mostly garment, footwear, and travel goods products, bicycles, dry rubber, milled rice, bananas, cashew nuts, mangoes, and longans, as it imported raw materials for garment, footwear, and travel goods, petroleum, construction materials, automobiles, and motorcycles, consuming products, pharmaceutical products, and cosmetics.

The Cambodian Ministry of Commerce’s secretary of state and spokesperson, Penn Sovicheat, said the Regional Comprehensive Economic Partnership (RCEP) agreement and the Cambodia-China Free Trade Agreement (CCFTA) have given a boost to this trade growth.

“With preferential tariffs provided by RCEP and CCFTA, we’re confident that our exports to international markets, particularly to China and other RCEP member countries, will continue to rise in the coming months and years,” he told Xinhua.Xinhua

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