Cambodia’s exports grow by 13% in past seven years
Cambodia’s exports grow by 13% in past seven years
Cambodia’s exports grew by an average of 13.3 percent between 2017 and 2023 and reached $23.47 billion, or 54.7 percent of the country’s gross domestic product in 2023.
The figures were emphasised by Hun Manet, Prime Minister of the Kingdom of Cambodia while presiding over the launching ceremony of the National Single Window at Sokha Phnom Penh Hotel yesterday.
In the first quarter of 2024, the Premier pointed out, the export trend continued positively with an increase of 17.2 percent.
The Royal Government always considers business and investment environment improvement and trade facilitation as a top priority by setting out policies, strategies, programmes, and reform measures, as well as legal standards to improve concrete implementation, he reaffirmed.
Cambodia has experienced for the first time a trade surplus in the international trade balance in the first three months of this year. An official report shows that the total import-export turnover in the January-March period reached $12.49 billion, a year-on-year increase of 11.9 percent, of which $6,261 million were Cambodia’s exports and $6,234 million were her imports.
The garment, footwear, and travel goods industry is the largest foreign exchange earner for Cambodia. Other exported products are non-garment manufacturing products – electronic components, agricultural products, bicycles, and solar panels.
