Cambodia's exports surge, led by garments, agricultural produce
(MENAFN) According to a report released by the Ministry of Commerce, Cambodia's exports soared to USD10.18 billion in the first five months of 2024, marking a robust 10.8 percent increase from USD9.18 billion during the same period last year. Key drivers of this export growth included garments, footwear, travel goods, bicycles, and a range of agricultural products such as rice, rubber, cassava, bananas, mangoes, and longans.
The report highlighted the United States, Vietnam, China, Japan, and Thailand as the top five export destinations for Cambodia, underscoring the nation's diversified export markets and its growing presence in the global trade arena.
Concurrently, Cambodia also recorded a notable uptick in imports, totaling USD11.43 billion during the January-May period of 2024, reflecting a substantial 13 percent increase from USD10.1 billion over the same period last year. Key imported commodities encompassed petroleum, raw materials for the garment, footwear, and travel goods industries, as well as vehicles, machinery, electronic appliances, and consumer products.
The surge in both exports and imports underscores Cambodia's expanding trade activities and its increasing integration into global value chains. With its strategic location in Southeast Asia and a conducive business environment, Cambodia continues to attract investments and foster economic growth through trade diversification and the development of key sectors such as textiles, agriculture, and manufacturing.
As Cambodia navigates the challenges and opportunities of global trade, policymakers remain focused on enhancing trade facilitation, promoting investment, and fostering competitiveness to sustain the momentum of economic expansion and improve the livelihoods of its citizens.
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