Jan-May France trade slips 6% on-year but surplus remains
Jan-May France trade slips 6% on-year but surplus remains
The volume of merchandise traded between Cambodia and France reached $210.640 million in the first five months of 2023, down 6.04 per cent year-on-year from $224.179 million and down 6.43 per cent half-on-half from $225.11 million, according to Customs (GDCE).
At the same time, Cambodian goods exports to France were to the tune of $156.579 million, down 8.38 per cent year-on-year from $170.903 million and down 12.65 per cent half-on-half from $179.25 million, according to provisional GDCE data in “International Merchandise Trade Statistics” bulletins.
The Kingdom imported $54.061 million worth of goods from the world’s seventh largest economy, up 1.5 per cent year-on-year from $53.276 million and up 17.9 per cent half-on-half from $45.86 million.
Cambodia’s trade surplus – the amount by which a country’s exports exceed its imports – with its former colonial power for the five-month period clocked in at $102.518 million, shrinking by 12.8 per cent year-on-year from $117.627 million as well as by 23.14 per cent half-on-half from $133.39 million.
France was Cambodia’s 18th biggest trading partner for the period, representing 1.092 per cent, 1.705 per cent and 0.535 per cent of the Kingdom’s international trade ($19.293 billion), exports ($9.183B) and imports ($10.109B), respectively, GDCE figures indicate.
In May alone, Cambodian exports to France stood at $31.130 million, down 16.79 per cent year-on-year from $37.411 million, up 13.2 per cent half-on-half from $27.511 million, up 9.4 per cent quarter-on-quarter from $28.451 million, and down 2.4 per cent month-on-month from $31.906 million.
That month’s imports, meanwhile, came in at $10.851 million, up 8.0 per cent year-on-year from $10.048 million, up 60 per cent half-on-half from $6.776 million, down 11.8 per cent quarter-on-quarter from $12.305 million, and down 11.5 per cent month-on-month from $12.266 million.
France was the Kingdom’s 14th largest export destination and 18th-ranked import source in May, representing 1.016 per cent, 1.597 per cent and 0.497 per cent of the Kingdom’s international trade ($4.132B), exports ($1.949B) and imports ($2.182B), respectively, according to the GDCE.
In a recent interview with The Post, Cambodia Chamber of Commerce vice-president Lim Heng commented that the Kingdom’s exports to France are buoyed by preferential arrangements granted under the EU’s ‘Everything But Arms’ (EBA) trade scheme.
“The world economy will expand as the current conflicts and crises cease, and consequently, purchase orders for Cambodian goods will climb commensurately,” he said.
Most Cambodian exports to France are garments, footwear, travel goods, and agricultural products, while notable imports include vehicles, electrical and electronic equipment, construction materials, and furniture, according to Heng.
According to the GDCE, the Cambodia-France merchandise trade in 2022 was valued at $542.369 million, up 25.92 per cent over 2021 and up 50.98 per cent against 2015.
Cambodian goods exports to and imports from France last year amounted to $423.131 million and $119.238 million, respectively up 27.89 per cent and up 19.41 per cent year-on-year, expanding the former’s trade deficit with the latter by 31.55 per cent to $303.892 million.
France was Cambodia’s 18th largest merchandise trading partner in 2022, accounting for 1.035 per cent of the global total of $52.425 billion, compared to the top three: mainland China ($11.686B; 22.291%), the US ($9.281B; 17.704%) and Vietnam ($6.136B; 11.704%).
