Cambodia netted more than $2.6 billion from goods exported to Vietnam in the first 11 months of 2023, while bilateral trade reached nearly $6 billion, according to the General Department of Customs and Excise (GDCE).

From January to November, exports to Vietnam stood at $2.61 billion, surging by 37.8% compared to the same period last year, while imports from Vietnam stood at $3.27 billion, down 9.7%.

According to the GDCE, total trade between the two countries was $5.88 billion for the period, up 6.6%.

Vietnam is currently the third-largest exporter of goods to Cambodia after China and the US.

The country’s trade deficit fell to $655.05 million, much improved from the $1.72 billion recorded in the same interval of 2022.

For November 2023, exports and imports between the two nations clocked in at $600.83 million, increasing by 17.77%. Cambodia exported $349.81 million worth of goods to Vietnam, rising by 51.9%, while $251.02 million worth of goods were imported from Vietnam, down by 10.3%.

Lim Heng, vice-president of the Cambodia Chamber of Commerce (CCC), said on January 1 that the uptick in domestic production capacity, especially agricultural output, has helped the country’s exports to Vietnam increase steadily in recent years.

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Author: Hin Pisei

Publication Date: 01 January 2024

Source: The Phnom Penh Post