Cambodia's trade with ASEAN soars to USD5.63B in first 4 months of 2024
Date
5/16/2024 5:41:21 AM
(MENAFN) According to a report released by the Ministry of Commerce on Thursday, Cambodia's trade with its fellow ASEAN member states surged to 5.63 billion U.S. dollars during the first four months of 2024, marking a notable increase of 14.2 percent compared to the same period in 2023, which recorded trade at 4.93 billion dollars.
The report outlined that Cambodia's exports to other ASEAN countries amounted to 2.18 billion dollars during the January-April period of this year, reflecting a substantial rise of 17.2 percent from the corresponding period in 2023, when exports totaled 1.86 billion dollars. In contrast, the country's imports from ASEAN nations reached 3.45 billion dollars, demonstrating a solid increase of 12.3 percent from 3.07 billion dollars in the previous year.
Remarkably, Cambodia's trade volume with fellow ASEAN member states constituted 33.3 percent of its total trade volume, which amounted to 16.9 billion dollars during the first four months of 2024, as highlighted in the report.
Furthermore, the report identified Vietnam, Thailand, and Singapore as Cambodia's three largest trading partners within ASEAN, underscoring the significance of these partnerships in driving bilateral trade and economic cooperation.
"Cambodia's strategic membership in key regional and global trade agreements, including ASEAN and the World Trade Organization (WTO), positions it as a highly integrated player within the dynamic global market," he stated in an address at a Cambodia-ASEAN business forum in Phnom Penh in April.
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