Cambodia’s Exports to U.S. Up 26 percent in First Five Months
AKP Phnom Penh, July 09, 2020 --
The exports from Cambodia to the U.S. during the first five months of this year rose by 25.9 percent to US$2.3 billion, according to data from the U.S. Census Bureau.
The two-way trade between the two countries saw an increase by 18 percent to US$2.4 billion, added the report.
From January to May, Cambodia imported US$125 million worth of products from the U.S., a 42 percent decreased compared to the same period last year.
In May alone, the bilateral trade was valued at US$355 million, of which US$338 million were the Kingdom’s exports to the U.S.
H.E. Vongsey Vissoth, Permanent Secretary of State at the Ministry of Economy and Finance, said in a press conference here on July 8 that the exports from Cambodia to foreign markets in the first five months remained positive although the COVID-19 pandemic has seriously hit the economy of the countries around the globe, including Cambodia.
The positive growth in the country’s exports was shared by export of non-garment products such as milled rice, bicycle, and electronic components exports, he said.
“Exports of the garment sector have declined, especially to the EU market, but when we look at the total exported products from Cambodia to international markets, we see growth in such as bikes, rice, electronic components and some raw materials from agriculture,” H.E. Vongsey Vissoth underlined.
Last year, the bilateral trade between both countries totaled US$5.8 billion, up 38 percent compared to the figure in 2018.
By Chea Vannak