Logo of Phnom Penh Post newspaper Phnom Penh Post - Kingdom-Canada trade soars by 35.6% to $583M in H1 2022

Kingdom-Canada trade soars by 35.6% to $583M in H1 2022

Content image - Phnom Penh Post
Customers shop for clothing at a store in Phnom Penh in 2019. The Kingdom’s major exports to Canada include textile-related items like garments, footwear and travel goods. Hong Menea

Kingdom-Canada trade soars by 35.6% to $583M in H1 2022

Bilateral trade between Cambodia and Canada totalled $583.04 million in the first half (H1) of 2022, up by 35.60 per cent from the $429.97 million booked in the corresponding period last year, according to the General Department of Customs and Excise (GDCE).

In the January-June period, Cambodia exported $569.19 million worth of goods to Canada, rising by 38.6 per cent year-on-year from $410.69 million, and imported $13.84 million, down by 28.2 per cent from $19.28 million. The Kingdom’s trade surplus with Canada for the period stood at $555 million, expanding by 41.9 per cent from $391 million.

Canada was the fourth biggest buyer of Cambodian merchandise over the period, after the US, Vietnam and mainland China, GDCE statistics show.

Cambodia Chamber of Commerce (CCC) vice-president Lim Heng told The Post on July 18 that trade figures between the two countries, especially the Kingdom’s exports to the key economic player, have been steadily increasing.

The Kingdom’s major exports to Canada include textile-related items like garments, footwear and travel goods; bicycles; and agricultural products, he said, listing notable imports such as vehicles, electrical equipment and decorative materials.

Heng explained that the large market for Cambodian products in Canada encouraged the CCC to set up its first overseas representative office in the country, as a new avenue to attract Canadian investors to the Kingdom and a platform to showcase Cambodian-made goods.

He noted that the CCC opened the office in Toronto in late May, and may open another in Montreal in due time.

Hong Vanak, director of International Economics at the Royal Academy of Cambodia, indicated that the increased presence of Cambodian goods on the Canadian market would be valuable for the Kingdom’s interests, citing Canada’s status as a developed country and the high incomes its people earn.

Nonetheless, he called for Cambodia to strive to diversify its exports beyond traditional textile-related items, not just to Canada, but elsewhere. For the Canadian market, Vanak suggested agricultural products, of which he said the list of exportable items has grown considerably.

“Cambodia must make more efforts to boost exports to this country, but we must also not neglect to improve product quality,” he said.

According to the GDCE, bilateral trade between the two countries hit $994.72 million last year, up by 23.3 per cent over 2020, of which Cambodia exported $954.83 million, up by 27.1 per cent year-on-year, and imported $39.89 million, down by 28.2 per cent. The Kingdom’s trade surplus with Canada for 2021 stood at $914.9 million, expanding by 27 per cent from $720 million.


  • Joy as Koh Ker Temple registered by UNESCO

    Cambodia's Koh Ker Temple archaeological site has been officially added to UNESCO’s World Heritage List, during the 45th session of the World Heritage Committee held in Riyadh, Saudi Arabia, on September 17. The ancient temple, also known as Lingapura or Chok Gargyar, is located in

  • Ream base allegations must end, urges official

    A senior government official urges an end to the allegations and suspicions surrounding the development of Cambodia’s Ream Naval Base, now that Prime Minister Hun Manet has addressed the issue on the floor of the 78th UN General Assembly (UNGA 78). Jean-Francois Tain, a geopolitical

  • Cambodia set to celebrate Koh Ker UNESCO listing

    To celebrate the inscription of the Koh Ker archaeological site on UNESCO’s World Heritage List, the Ministry of Cults and Religion has appealed to pagodas and places of worship to celebrate the achievement by ringing bells, shaking rattles and banging gongs on September 20. Venerable

  • CP denied registration documents by ministry

    The Ministry of Interior will not reissue registration documents to the Candlelight Party (CP). Following a September 21 meeting between ministry secretary of state Bun Honn and CP representatives, the ministry cited the fact that there is no relevant law which would authorise it to do

  • Cambodian diaspora laud Manet’s UN Assembly visit

    Members of the Cambodian diaspora are rallying in support of Prime Minister Hun Manet’s forthcoming visit to the 78th UN General Assembly (UNGA 78) in the US’ New York City this week. Their move is an apparent response to a recent call by self-exiled former

  • After three deferrals, Capital Gains Tax to take effect Jan 1, 2024

    The General Department of Taxation (GDT) will implement the Capital Gains Tax starting January 1, 2024 to after being deferred three times as industrial players warn that the implementation might have some negative impact on the property market growth, which is down due to the economic downturn.