VIETNAM BECOMES CAMBODIA'S LARGEST TRADING PARTNER

Logistic News

VIETNAM BECOMES CAMBODIA'S LARGEST TRADING PARTNER

12 July 2023

Cambodia's Ministry of Commerce said that in the first 5 months of 2023, the total bilateral trade turnover between Cambodia and Vietnam will reach more than 2.8 billion USD.

In the first five months of 2023, Vietnam will become Cambodia's largest trading partner among the 10 members of the Association of Southeast Asian Nations (ASEAN), with total bilateral trade accounting for nearly 50% of the total scale of Cambodia's trade with countries in the region.

In a report published on July 8, the website sbm.news cited a source from the Cambodian Ministry of Commerce as saying that during the aforementioned period, the total bilateral trade turnover between the country and Vietnam reached more than 2.8 billion USD, up nearly 3% over the same period in 2022.

Cambodia's exports to Vietnam totaled about $1.3 billion, while the country imported more than $1.5 billion worth of goods from Vietnam.

With positive trade scale growth momentum in the first months of this year, Vietnam is not only Cambodia's largest partner in ASEAN but also Cambodia's 3rd largest trading partner in the world, after China and the US.According to Cambodian media, the export value of goods from Cambodia to Vietnam increased mainly from agricultural exports, thanks to the annual increase in harvest in the country.

Cambodia's main exports to Vietnam include rice, rubber, cashews, cassava (tapioca), corn (corn), bananas, mangoes, tobacco and natural resources. In the opposite direction, Cambodia imports from Vietnam items such as construction materials, machinery, fuel, electrical items, electronics, fertilizers, spices, vegetables...

According to data from the Cambodian Ministry of Commerce, although bilateral trade turnover with Vietnam increased quite well, the total scale of trade between the country and ASEAN countries decreased in the first 5 months of the year, reaching just over 6 billion USD, down more than 15% over the same period in 2022.

In recent years, the trade scale between Vietnam and Cambodia has continuously grown at an average rate of 18.5% per year in the period 2010-2015 and over 21% in the period 2015-2020.

In the context of the COVID-19 epidemic, Vietnam is one of Cambodia's three largest trading partners with total bilateral trade turnover reaching 9.54 billion USD in 2021, up more than 79% compared to 2020.

In the past 2022, the scale of Vietnam-Cambodia bilateral trade reached 10.57 billion USD, up nearly 11% compared to 2021.

Source: congthuong.vn