Logo of Phnom Penh Post newspaper Phnom Penh Post - SSEZ imports, exports surpass $1.7B in January-August

SSEZ imports, exports surpass $1.7B in January-August

Content image - Phnom Penh Post
The volume of imports and exports handled at the Sihanoukville Special Economic Zone (SSEZ) clocked in at $1.749 billion in the first eight months of 2022, marking a 27.39 per cent rise year-on-year from $1.373 billion, according to the operator. Hong Menea

SSEZ imports, exports surpass $1.7B in January-August

The volume of imports and exports handled at the Sihanoukville Special Economic Zone (SSEZ) clocked in at $1.749 billion in the first eight months of 2022, marking a 27.39 per cent rise year-on-year from $1.373 billion, according to the operator.

The corresponding figure for the July-August period appears to have been relatively low – somewhere in the range of 21.38-21.50 per cent of the eight month total, accounting for rounding, as opposed to one-quarter or 25 per cent – and represented a dip of roughly one per cent compared to the same two months in 2021.

For reference, in the January-June period, the value of imports and exports passing through the 11.13sq km SSEZ – the largest special economic zone (SEZ) by size and occupancy – was reported at $1.374 billion, a 38.23 per cent uptick from $994 million a year earlier.

Cambodia Chamber of Commerce (CCC) vice-president Lim Heng pinned the overall rise in the SSEZ’s import and exports this year on the industrial zone’s generally strategic position – in Pou Thoeung village, Bit Traing commune, Prey Nop district, Preah Sihanouk province just north of Sihanouk International Airport and not far from the coast as well as the Kingdom’s sole deep water port.

He also credited the growth to a favourable legal investment framework and an uptick in the number of tenants and other companies with supporting investments, as well as improved market access, copiously backed by the Cambodia-China Free Trade Agreement (CCFTA) and the Regional Comprehensive Economic Partnership (RCEP).

Despite recent speed bumps, Heng believes that imports and exports handled by the SSEZ will further trend upwards, on the back of the new Law on Investment’s appeal and burgeoning number of project proposals planned for the zone that are approved by the Council for the Development of Cambodia (CDC), the government’s highest decision-making body for large-scale investments.

Logistics and Supply Chain Business Association in Cambodia (Loscba) president Chea Chandara remarked that the SSEZ was a promising SEZ, and that a series of new factories are opening there.

Most of the factories in the SSEZ are owned and invested by Chinese investors, he said, highlighting garments, footwear, furniture, plank boards, and electronic components as some of the notable industries represented by the zone’s tenants.

“The value of the SSEZ’s imports and exports will swell as the number of new companies investing in them increases, which will also generate more jobs,” he said, stating that nationwide, production systems across the spectrum of sectors are by and large running smoothly.

In 2021, the value of imports and exports passing through the SSEZ were to the tune of $2.234 billion, a 42.75 per cent surge from $1.565 billion a year earlier, which witnessed a 26.52 per cent jump over $1.237 billion in 2019, according to the operator.

General Department of Customs and Excise statistics show that, in the first eight months of 2022, Cambodia’s international trade totalled $37.406 billion, up by 21.48 per cent year-on-year from $30.793 billion.

Cambodia’s exports came in at $15.642 billion, soaring by 26.26 per cent year-on-year, and imports $21.764 billion, jumping by 18.26 per cent. The Kingdom’s trade deficit for the January-August period expanded by 1.78 per cent on a yearly basis to $6.122 billion.

Imports and exports all in all delivered a robust performance in the July-August period, with international trade amounting to $10.162 billion – or 27.17 per cent of the eight-month total – which marked a 25.16 per cent hike year-on-year. Over the two months, exports were $4.263 billion, up 9.54 per cent, and imports $5.899 billion, up 39.54 per cent.

MOST VIEWED

  • Hong Kong firm done buying Coke Cambodia

    Swire Coca-Cola Ltd, a wholly-owned subsidiary of Hong Kong-listed Swire Pacific Ltd, on November 25 announced that it had completed the acquisition of The Coca-Cola Co’s bottling business in Cambodia, as part of its ambitions to expand into the Southeast Asian market. Swire Coca-Cola affirmed

  • Cambodia's Bokator now officially in World Heritage List

    UNESCO has officially inscribed Cambodia’s “Kun Lbokator”, commonly known as Bokator, on the World Heritage List, according to Minister of Culture and Fine Arts Phoeurng Sackona in her brief report to Prime Minister Hun Sen on the night of November 29. Her report, which was

  • NagaWorld union leader arrested at airport after Australia trip

    Chhim Sithar, head of the Labour Rights Supported Union of Khmer Employees at NagaWorld integrated casino resort, was arrested on November 26 at Phnom Penh International Airport and placed in pre-trial detention after returning from a 12-day trip to Australia. Phnom Penh Municipal Court Investigating Judge

  • Sub-Decree approves $30M for mine clearance

    The Cambodian government established the ‘Mine-Free Cambodia 2025 Foundation’, and released an initial budget of $30 million. Based on the progress of the foundation in 2023, 2024 and 2025, more funds will be added from the national budget and other sources. In a sub-decree signed by Prime Minister Hun Sen

  • Two senior GDP officials defect to CPP

    Two senior officials of the Grassroots Democratic Party (GDP) have asked to join the Cambodian People’s Party (CPP), after apparently failing to forge a political alliance in the run-up to the 2023 general election. Yang Saing Koma, chairman of the GDP board, and Lek Sothear,

  • 11th Chaktomuk Short Film Festival draws to close

    Cambodia's 11th Chaktomuk Short Film Festival wrapped up successfully on November 28 after a four-day run, with the film “Voice of the Night” awarded top prize for 2022. Sum Sithen, the organiser of the short film festival, told The Post that the number of attendees to the