Cambodia’s Export to Japan Recorded at US$1.4 Billion in First Eleven Months
AKP Phnom Penh, January 21, 2021 --
Cambodia exported US$1,486 million worth of products to Japan in the first eleven months of 2020, down 14 percent compared to the same period a year before, according to figures from Japan External Trade Organisation (JETRO).
In the same period, Cambodia imported US$432 million worth of goods from Japan, a year-on-year decrease of 7 percent.
The report stated that the bilateral trade between the two nations was valued at US$1,918 million, a decline of 8.7 percent compared to 2019.
To boost the bilateral trade, Cambodia has unveiled its plan on trade pact negotiation with Japan.
H.E. Pan Sorasak, Cambodian Minister of Commerce, said recently that Cambodia has listed trade partner countries for conducting talks on possible free trade agreement establishment, aiming to expand wider potential markets for the country’s products.
Japan represents the second biggest market for Cambodian exports, after the U.S, and the fourth highest import volume into the Kingdom in 2019.
Figures from the Ministry of Commerce showed that the potential products for export from Cambodia to Japan are clothes, footwear, bicycles and electronics.
In 2019, the two-way trade between Cambodia and Japan rose by 13 percent to US$2,292 million.
By Chea Vannak