Tuesday, July 23, 2024
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Cambodia’s international trade up 12.7pc in H1

PHNOM PENH (XINHUA) – Cambodia’s foreign trade volume reached USD26.09 billion in the first half (H1) of 2024, up 12.7 per cent from USD23.15 billion over the same period last year, said an official report released yesterday.

The kingdom’s total exports amounted to USD12.29 billion during the January-June period this year, up 12.6 per cent compared to the same period last year, and total imports hit USD13.8 billion, up 12.8 per cent, according to the General Department of Customs and Excise’s report.

The Southeast Asian country’s top five trading partners are China, the United States, Vietnam, Thailand, and Japan, the report said.

The kingdom exported mainly garment, footwear and travel goods products, bicycles, dry rubber, milled rice, bananas, cashew nuts, mangoes, and longans, as it imported raw materials for garment, footwear and travel goods, petroleum, construction materials, automobiles and motorcycles, electronic products, consuming goods, pharmaceutical products and cosmetics, among others.

Cambodian Ministry of Commerce’s Secretary of State and spokesperson Penn Sovicheat said the Regional Comprehensive Economic Partnership (RCEP) agreement and the Cambodia-China Free Trade Agreement (CCFTA) have given a boost to this trade growth.

“These free trade pacts are catalysts for our long-term sustainable export growth,” he told Xinhua. “With tariff concessions provided by the RCEP and CCFTA, our exports will undoubtedly continue to soar in coming months and years.”