Containers ready for shipment to international markets at Sihanoukville Autonomous Port (PAS) in the past. Post Staff
Imports and exports between Cambodia and its trading partners reached nearly $50 billion during the first 11 months of 2024, marking a nearly 20% year-on-year increase. The country’s exports accounted for 48% of the volume, according to the General Department of Customs and Excise (GDCE).
GDCE data on international trade showed a total trade volume of $49.87 billion between January and November, representing a 17.4% increase from $42.50 billion during the same period in 2023. Exports grew by 16.8% to $23.93 billion, while imports rose by 17.9% to $25.94 billion.
The trade deficit for the period stood at approximately $2.01 billion, compared to $1.51 billion year-on-year.
Lor Vichet, vice-president of the Cambodian Chinese Commerce Association (CCCA), told The Post on December 10 that the country’s rising international trade and export growth are driven by global geopolitical changes, US tariffs on Chinese-made goods and Cambodia’s increasing production capacity. He projected further growth in export revenues in the coming years.
The country’s main exports include garments, footwear and travel bags (GFT), and to a lesser extent, tyres, rubber products and electronics, he said.
“Cambodia's exports are still largely driven by traditional [garment] products, a sector that has created approximately 800,000 jobs for the Cambodian workforce,” Vichet emphasised.
He noted that Cambodia could further boost export revenues by promoting the cultivation and processing of agricultural products for export. Additionally, he said the establishment of tyre factories has enabled the country to incorporate domestically produced rubber into its export manufacturing cycle.
“The opening of tyre manufacturing plants has contributed to Cambodia's increased processing of domestic rubber products,” Vichet said. “If Cambodia can further expand its agricultural exports, it would reduce the trade imbalance.”
Pen Sovicheat, secretary of state and spokesperson for the Ministry of Commerce, highlighted during a December 9 press conference on the “Cambodia Trade Expo (CTE)” that the country’s exports have shown steady growth, with an expanding range of target markets.
He said this marks a shift from the past, when the bulk of exports were directed to the US and European markets due to preferential tariff systems for Cambodian-made goods in those regions.
He noted that improvements in investment laws, infrastructure such as roads, airports and ports, and increasing international cooperation – especially through free trade agreements (FTAs) like the Regional Comprehensive Economic Partnership (RCEP) – have significantly broadened the country’s export opportunities.
“Cambodia’s trade is no longer solely dependent on preferential systems. Recently, the commerce ministry has been actively promoting numerous FTA negotiations. We are also part of the RCEP, a major economic partnership,” he said.
Cambodia has so far signed FTAs with countries such as China (CCFTA) and South Korea (CKFTA), as well as with the 10 ASEAN nations and partners including China, Japan, South Korea, Australia and New Zealand under the RCEP framework.
According to the GDCE, the country’s total international trade in 2023 reached $46.83 billion, a 1.9% decline compared to $47.71 billion in 2022. Exports were valued at $22.65 billion, marking a 1.8% increase, while imports decreased by 5% to $24.18 billion from $25.46 billion in 2022.
