Economy : Cambodia exports US$308 million in car tyres in first five months of 2024

Cambodia exported US$308 million worth of car tyres in the first five months of this year, a significant 204% increase from the US$101 million recorded in the same period last year, according to a report from the Ministry of Commerce.

The country currently has three operational car tyres manufacturing plants in Svay Rieng, Preah Sihanouk and Kratie provinces

This impressive growth is attributed to the increasing presence of car tyre factories in Cambodia and reflects the diversification of the Kingdom’s exports to international markets, said H. E. Penn Sovicheat, permanent secretary and spokesman for the Ministry of Commerce.

"Car tyres are a new export product for Cambodia. This reflects the Cambodian government’s efforts to promote and expand exports to regional and global markets," he said.

"Opening a new market for tyre products is one of our steps to expand exports, while the tyre industry is one of the potential industries in Cambodia; the export figures also show that the quality of Cambodian-made car tyres meets the demand in foreign markets," the spokesman stressed.

The country currently has three operational car tyres manufacturing plants in Svay Rieng, Preah Sihanouk and Kratie provinces, while two other tyre factory projects have received in-principle approval for investment in Cambodia.

The Kingdom exports the product mainly to Malaysia, Vietnam, Singapore and China

Cambodia exported 69,322 tonnes of dry rubber in the first quarter of 2024, up 5.1 percent from 65,921 tonnes in the same period last year, according to a report by the General Directorate of Rubber.

AKP