Cambodia’s Export to Thailand Up 115% in Q1
AKP Phnom Penh, April 27, 2020 --
Cambodia’s export to Thailand has seen a significant increase in the first three months of this year, although the two countries have faced strict movement of cross-border trade due to the deadly COVID-19 pandemic.
From January to March this year, Cambodia’s total exports to this neighbouring country were valued at US$612 million, up 115 percent compared to the same period a year earlier.
Meanwhile, Cambodia imported some US$1,891 million worth of goods from Thailand, an increase by 17 percent, according to a report from Thailand’s Ministry of Commerce.
The data shows that the bilateral trade between the two Kingdoms grew by 31 percent in the first quarter, to US$2,503 million.
Mr. Lim Heng, Vice President of Cambodia Chamber of Commerce, said that the increase of exports from Cambodia is a good sign of attracting new investments into the country.
“The amount of exports from Cambodia has significantly increased, particularly the export of raw materials from agriculture, so it is a good sign of attracting new investments to Cambodia for processing and producing those materials for export,” Mr. Lim Heng said.
Agricultural products accounted for the majority of Cambodian exports to Thailand, while Thai exports to Cambodia primarily consisted of energy resources, agriculture fertilizer, food supplies and cosmetics, etc.
Last year, the two-way trade between the two countries grew by 12 percent to US$9.4 billion.
By Chea Vannak