ANN/THE PHNOM PENH POST – Cross-border trade between Cambodia and Vietnam in the first two months of 2024 saw a notable increase, the General Department of Customs and Excise (GDCE) reported.
During this period, trade between the two nations surged to USD1.41 billion, marking a 30.4 per cent rise from the USD1.08 billion recorded in the same timeframe of 2023.
Cambodia’s exports to Vietnam saw a substantial increase, totaling USD801.6 million, up by 63.2 per cent from USD491.18 million, while imports stood at USD612.66 million, showing a 3.2 per cent increase from USD593.56 million.
This resulted in Cambodia achieving a trade surplus of USD188.94 million, a significant improvement from the deficit of USD102.38 million in the corresponding period of 2023.
Cambodia Chamber of Commerce Vice-president Lim Heng attributed the positive trend in bilateral trade to Cambodia’s growing agricultural exports to Vietnam. He also suggested that the actual trade volume might be higher than reported due to the extensive flow of goods in border provinces between the two countries.
Heng speculated that trade volumes could increase further with the completion of the Phnom Penh-Bavet Expressway.
“I believe that the value of Cambodian-Vietnamese trade will continue to increase, especially as many Vietnamese investors are now investing in Cambodia, particularly near the Vietnam border,” he said.
Cambodia primarily exports rice, rubber, cashew nuts, cassava, corn, bananas, mangoes, tobacco and natural resources to Vietnam.
Imports from Vietnam include construction materials, machinery, fuel, electrical equipment, electronic components, agricultural fertiliser, spices, vegetables and fruits, among others, as per the GDCE.
Heng noted that besides trade, the two countries also enjoy strong tourism relations.
The Ministry of Tourism reported that in 2023, Cambodia welcomed 5.45 million international visitors, a 139.5 per cent increase from 2022, including 1.02 million from Vietnam, marking a 119.8 per cent increase.
