Kingdom’s trade with UK passes $1B mark
Kingdom’s trade with UK passes $1B mark
Two-way trade between Cambodia and the UK surpassed $1.2 billion last year, an increase of seven per cent over 2016, a report released by the UK embassy on Tuesday said.
The UK is Cambodia’s fourth largest export market behind the EU, US and Asean, though it ranks second in terms of bilateral trade.
The report also showed that the UK was the sixth largest investor in the Kingdom.
Cambodian exports to the UK last year increased to $1.16 billion, a five per cent growth over 2016. Meanwhile, $48 million in goods was imported from the UK last year, which represents a 112 per cent jump over the year before.
Garments represent the bulk of local products exported to the UK. According to a report from the International Labour Organisation last year, 45 per cent of all Cambodian garment exports in the first half of 2016 went to the EU, while 24.3 per cent ended up in the UK.
