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Cambodia's Trade Volume Hits $17 Billion in Early 2024

PHNOM PENH, June 5, 2024 – Sok Sopheak, Secretary of State and Spokesperson for the Ministry of Commerce, revealed in a meeting with the Ministry of Information's Online Media Executive Working Group on June 4, 2024, that Cambodia's trade volume for the first five months of 2024 reached approximately $17 billion. This figure represents a decrease of about 10% compared to the same period last year, attributed to challenges in the overseas consumer market, including shipping disruptions and inflation in purchasing countries.

Despite this downturn, projections for the full year of 2024 anticipate a near 10% recovery in Cambodia’s exports, buoyed by an uptick in regional trade activity.

Sopheak outlined that Cambodia's primary exports during this period included garments, footwear, bags, textiles, bicycles, electronics, and their components. On the import front, the country mainly procured pharmaceuticals and supplements, consumable goods, food, beverages, and purified water to accommodate the demands of the tourism sector.

Data from the General Department of Customs and Excise of Cambodia highlighted that in 2023, the principal export commodities were clothing and accessories, machinery, electrical appliances, and leather goods. The country's major trading partners remain China, the United States, the European Union, Vietnam, Thailand, Japan, and other key markets in the ASEAN region, with the total trade volume for 2023 exceeding $46.8 billion.

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