Logo of Phnom Penh Post newspaper Phnom Penh Post - Imports, exports rise

Imports, exports rise

Imports, exports rise

INCREASED global consumption has sparked growth in Cambodian trade so far this year, according to Ministry of Commerce (MoC) officials.
Official figures from the MoC obtained Tuesday show Cambodia’s total export market rose 13.82 percent to US$1.2 billion in the first five months of 2010, compared to last year’s $1.06 billion, while imports increased 17.45 percent to $1.74 billion, from $1.48 billion for the same period.

MoC Secretary of State Ouk Boung said Tuesday that the Kingdom is making clear progress as the global crisis fades.

“The growth is derived from the surge in global consumption.

“We are seeing many big companies from Japan, South Korea, and ... European countries coming to seek investment opportunities already this year – this demonstrates how the economy is improving,” he said.

However, Cambodian Economic Association (CEA) President Chan Sophal said the rise does not seem as favourable when one considers the trade decline from 2008 to 2009. Margins for Cambodia’s primary export, garments, are also being squeezed, according to Nam-Shik Kang, managing director of Korea’s Injae Garment Co Ltd.

MOST VIEWED

  • ‘Kingdom lacks up to 400MW in available electricity’

    Prime Minister Hun Sen has called on the general public, hoteliers and businesspeople with generators to use them as back-up as the Electricity Authority of Cambodia cannot generate enough electricity to meet needs due to low water levels in power station reservoirs. On Saturday evening

  • Sor Chandeth defends his criticism of Hun Sen

    Former senator Sor Chandeth has defended his choice of words when criticising Hun Sen, saying he was merely speaking metaphorically to attack the Prime Minister’s political life, not his actual person, as the latter seeks damages. [img] Chandeth spoke to The Post on Thursday,

  • South Korea’s Moon arrives in Kingdom for state visit

    South Korean president Moon Jae-in and his wife arrived in Phnom Penh on Thursday at the start of a three-day state visit to Cambodia to strengthen ties and further the friendship between the two countries. After arriving at the Phnom Penh International Airport in the

  • Youths band together to clean ‘filthy’ Boeung Trabek canal

    Inspired by their affection for the environment, a desire to have a clean and beautiful city, and wanting to send a message to people to stop littering, a group of some two dozen volunteer youths have taken to picking up trash day and night from