US-Cambodia trade tops $9 bn in 2021

14 Feb '22

1 min read

Pic: Shutterstock

US-Cambodia bilateral trade was worth $9.159 billion in 2021, a 15.8 per cent increase over the figure in the previous year, according to a report by the US Census Bureau. Cambodia exported $8,745 million worth of goods to the United States last year—a year-on-year (YoY) rise of 33.2 per cent, while its imports from there rose by 20.2 per cent to $413.7 million.

Cambodia’s exports to the United States is strong despite some products being exported under the generalised system of preferences (GSP) with tariff payment, according to Pen Sovicheat, spokesman at the commerce ministry

Cambodia’s trade surplus with the United States is $8,331.6 million, a 34 per cent increase compared to 2020, according to domestic media reports.

The trade amount makes the United States Cambodia’s biggest market.

Cambodia’s exports to the United States comprised mostly garments and included footwear, bicycles and furniture, while the former imports automobiles, machinery, electrical appliances and electronics.

Cambodia’s travel and bag products only receive GSP status in the US market and other products like clothes and footwear are exported under the Most-Favoured Nation status, which allows for discounts on imports.

Fibre2Fashion News Desk (DS)

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