Cambodia's goods exports worth $20.5 bn in Jan-Nov 2023; 1.2% rise YoY

15 Dec '23

1 min read

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Insights

Cambodia's goods exports were worth $20.5 billion during the first 11 months this year—a slight rise of 1.2 per cent year on year (YoY), according to official statistics.
The main contributors to Cambodia's export growth were garments, footwear, and travel goods.
Goods exports to China were worth $1.3 billion during the period—a rise of over 18 per cent YoY.

Cambodia’s goods exports were worth $20.5 billion during the first 11 months this year—a slight increase of 1.2 per cent year on year (YoY), according to the general department of customs and excise.

A significant rise in exports to China was, however, observed, with a rise of over 18 per cent YoY during the period. The country exported goods worth $1.3 billion to China—up from $1.1 billion in the corresponding period last year.

China is the third-largest export destination for Cambodia after the United States and Vietnam.

The main contributors to Cambodia’s export growth were garments, footwear, and travel goods, a news agency reported.

The government attributes this growth to the implementation of the Regional Comprehensive Economic Partnership agreement and the Cambodia-China Free Trade Agreement, both of which came into force last year.

The country’s export sector is expected to continue its positive trajectory.

The recent signing of the Cambodian-Australian Free Trade Agreement and underway negotiations for the Cambodia-European Union Free Trade Agreement are likely to open up new avenues for export growth.

Fibre2Fashion News Desk (DS)

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