Economy: Cambodia-China trade hits record high in 2024

Cambodia and China trade has seen a substantial surge in value, reaching a record high of over $15 billion in 2024. This figure accounted for nearly 30% of Cambodia's total trade volume for the year, which totalled approximately $54.74 billion.

Furthermore, Chinese investors continue to dominate as the primary source of foreign direct investment (FDI) in the Kingdom

According to data from the General Department of Customs and Excise of Cambodia (GDCE), the total value of imports and exports between the two nations reached $15.19 billion in 2024, marking a substantial increase of 23.8% compared to the $12.26 billion recorded in 2023. Of this amount, imports were valued at $13.44 billion, representing a 24.6% increase, while Cambodian exports to China totalled $1.75 billion, marking an 18.4% rise.

Based on these figures, the trade deficit in 2024 was $11.69 billion, compared to $9.31 billion in 2023.

The Council for the Development of Cambodia (CDC) approved 414 investment projects in 2024, totalling approximately $6.9 billion. Chinese investments accounted for around 49.82% of the total foreign investment for the year.

Cambodia's exports to China primarily consist of agricultural products, furniture, jewellery and garments, while imports from China include raw materials for factories, daily consumer products, food and beverages, vehicles, machinery, construction materials, electronics, pharmaceuticals and agricultural products.In November of last year, the Ministry of Commerce and the private sector exhibited Cambodian products at the 7th China International Import Expo (CIIE) in Shanghai, China, with the aim of promoting bilateral trade cooperation.