Economy: Cambodia’s total trade volume with all partner countries reachs $45.06 billion

In the first 10 months of 2024, total exports and imports reached over $45 billion, a nearly 20% increase over the same period last year. The total is nearly equal to Cambodia’s total trade revenue for the entire year of 2023.

Phnom Penh. Photo CG

Statistics from the General Department of Customs and Excise of Cambodia (GDCE), published on November 11, revealed that from January to October, Cambodia’s total trade volume with all partner countries reached $45.06 billion, up 16.5% compared to the same period in 2023, which amounted to $38.67 billion. Of this, exports were valued at $21.57 billion, up 16% from $18.59 billion, while imports totalled $23.49 billion, an increase of 16.5% from $20.07 billion.

Based on these statistics, the Kingdom’s trade balance had a deficit of about $1.91 billion in the first 10 months of 2024, compared to $1.48 billion during the same period in 2023.

An October 25 release from the Council of Ministers revealed that, based on assessments of the public financial framework for the medium term, Cambodia’s economy in 2025 is expected to grow at a rate of 6.3%. This growth rate is anticipated to be supported by key sectors, including industry (growth of 8.6%), services (growth of 5.6%) and agriculture (growth of 1.1%).