“Cambodia’s Resilient Exports: Navigating Growth and Global Markets”
Cambodia’s exports topped $20.49 billion in the January-November period of this year, inched up by 1.2 percent compared to the same period last year, a General Department of Customs and Excise report said on Monday.
Cambodia’s exports exceeded $20.49 billion in the January-November period, showing a 1.2% increase compared to the same period last year. The United States remained the top destination with $8.14 billion in exports, despite a 0.9% decrease.
Exports to Vietnam rose by 37.8% to $2.61 billion, and to China, they increased by 18.5% to $1.31 billion. The main exports included apparel, footwear, travel goods, bicycles, and agricultural products. The garment, footwear, and travel goods industry, employing around 840,000 workers, is Cambodia’s largest foreign exchange earner.
Trade agreements like RCEP and free trade agreements with China and Korea have played a significant role in promoting Cambodia-made products and attracting foreign investment. Cambodia’s total imports decreased by 5.4% to $22 billion, with bilateral trade with China leading at $11.07 billion.
Prime Minister Hun Manet has called for cooperation between the government and the private sector to boost the export of made-in-Cambodia products.
“Our strategy is to have the government and the private sector work together to set goals to boost exports of Cambodian products to foreign markets,” the Prime Minister said at a get-together with garment workers held recently.
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