Cambodia logs slight rise in exports during January-November

PHNOM PENH: Cambodia exported US$20.5 billion worth of goods in the first 11 months of 2023, a slight increase of 1.2 per cent from 20.24 billion dollars year on year, said a General Department of Customs and Excise's report released on Tuesday (Dec 12).

Meanwhile, the kingdom's exports to China rose by more than 18 per cent to 1.3 billion dollars during the January-November period from 1.1 billion dollars in the same period last year.

China remains the third-largest export destination for the country after the United States and Vietnam, the report showed.

The main items Cambodia exported included garments, footwear, and travel goods, bicycles, and agricultural goods such as rice, rubber, cassava, bananas, mangoes and longans.

Commenting on a significant rise in exports to China, 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), which both entered into force last year, had given a boost to this growth.

"With the two free trade agreements, our made-in-Cambodia products have been exported to China with preferential tariffs," he told Xinhua.

"They are catalysts for our long-term and sustainable export growth." - Xinhua