Logo of Phnom Penh Post newspaper Phnom Penh Post - Bilateral trade with Thailand declines

Bilateral trade with Thailand declines

An exhibitor displays Thai-manufactured footwear at a trade fair in Phnom Penh earlier this year.
An exhibitor displays Thai-manufactured footwear at a trade fair in Phnom Penh earlier this year. Pha Lina

Bilateral trade with Thailand declines

Bilateral trade between Thailand and Cambodia decreased by 13 per cent in the first three months of this year compared to the same period in 2015, according to statistics provided by the Royal Thai Embassy.

The value of Cambodian exports to Thailand reached $290 million by the end of March, an 11.02 per cent increase compared to the same time last year.

However, imports, valued at $1 billion, decreased by 17.8 per cent by the end of March.

Overall bilateral trade stood at $1.3 billion, a 13.2 per cent decrease, which allowed the trade imbalance between the two countries to drop by a considerable 20 per cent.

Soeng Sophary, spokesperson for the Ministry of Commerce, said that while there has always been a trade imbalance between the two countries, a 20 per cent decline was a good sign that the gap would continue to narrow.

“Since most of Cambodia’s market depends on other countries markets,” she said, these numbers will “always fluctuate”.

But, she added that it could show that Cambodian products were gaining a competitive advantage, especially in light of the ASEAN Economic Community which is aimed at reducing trade barriers.

Mey Kalyan, senior adviser to the supreme national economic council, said it was too early to determine if this was a developing trend.

“It is hard to analyse since we are now within a more free market,” he said.

He added that an influx of Chinese imports as well as a rise of domestic products could explain the drop in bilateral trade between Cambodia and Thailand.

While he welcomed the news that Cambodian exports had increased, he added that the country should continue to strive to process its own products rather than relying on raw material exports to make up for the majority of exports.

“If Cambodia only relies on exporting raw materials, we lose out on potential profits from our resources,” he said.

Total trade between Cambodian and Thailand grew to $5.5 billion last year, up from $5.1 billion in 2014.

MOST VIEWED

  • Volunteer scheme to foster ‘virtuous’ humanitarian spirit

    A senior education official said volunteer work contributes to solidarity and promotes a virtuous humanitarian spirit among the youth and communities. Serei Chumneas, undersecretary of state at the Ministry of Education, Youth and Sport, made the comment during the opening of a training programme called “

  • Chinese firms unveil preliminary results on metro, monorail for capital

    Minister of Public Works and Transport Sun Chanthol and representatives from China Road and Bridge Corp (CRBC) and its parent company, the state-owned China Communications Construction Co Ltd (CCCC), met on June 24 for talks on results of the firms’ preliminary study on a potential metro

  • ACLEDA, WU to enable global money transfers

    Cambodia's largest commercial bank by total assets ACLEDA Bank Plc and global money transfer firm Western Union (WU) have partnered to offer customers cross-border money transfers to 200 countries via “ACLEDA mobile” app. In Channy, president and group managing director of ACLEDA, said the June 22 agreement

  • Cambodia detects new Covid cases after 52 days: PM

    After 52 days of zero new Covid-19 cases, Cambodia has now detected new infections, according to Prime Minister Hun Sen. In his special audio address to the nation late on June 28, Hun Sen said the new cases were detected on people who had undergone PCR tests

  • Higher education leaders tour US

    With support from the US Department of State, 10 Cambodian leaders in higher education participated in the 10-day International Visitors Leadership Programme (IVLP) in three US states from June 19 to July 1. They included nine university rectors and directors of higher education institutions who are members of

  • Gold-covered boundary stone found within Angkor Thom’s West Gate

    The Apsara National Authority (ANA) announced that their working group in charge of restoration work at Angkor Thom's Takav Gate or the West Gate recently found an ancient stone slab commonly known as a boundary stone. The boundary stone is 53 cm by 53 cm and 12 cm