Cambodia's international trade in 2022 totaled more than US$52 billion, an increase by 9.2 percent over 2021, while Cambodia's exports rose by more than 16 percent.

Last year, Cambodia exported US$22.4 billion worth of goods to international markets, up 16.4 percent compared to a year before, and imported US$29.9 billion, up 4.3 percent, according to data from the General Department of Customs and Excise of the Ministry of Economy and Finance.

Cambodia's main products exported were garments, textile, footwear, machinery and electrical equipment, leather goods, grain, furniture, rubber, as well as other products such as fruits, vegetables, pearls, and toys.

Ministry of Commerce’s Under-Secretary of State and Spokesperson H.E. Penn Sovicheat has attributed the increase in the exports of all kinds of goods to the fact that Cambodia has fully implemented the Regional Comprehensive Economic Partnership (RCEP), through which all 15 markets of RCEP member countries have absorbed a lot of goods from the Kingdom under low tax rates.

Additionally, exporters are also taking advantage of the free trade agreement between Cambodia and China, and trade preferences in the EU and U.S. markets.

Cambodia’s exports to U.S. up nearly 20% in 2022

Cambodia exported almost US$9 billion worth of products to the market in the United States of America in 2022.

The figure represents an increase of 19.7 percent compared to the same period last year, according to the latest report from the General Department of Customs and Excise (GDCE) at the Ministry of Economy and Finance.

At the same time, Cambodia imported more than US$312 million worth of goods from the U.S., a year-on-year decrease of 7.1 percent, said the report.

Cambodia’s major exports to the U.S. include textiles; footwear, travel goods and agricultural products, while its main imports form the U.S. are vehicles, animal feeds, and machinery.

Source AKP