Cambodia’s exports to EU rise by 20 percent in 2024
Cambodia’s exports to EU rise by 20 percent in 2024
Cambodia exported $4.41 billion worth of goods to the European Union (EU) last year, marking a 20.34 percent increase from $3.66 million recorded in 2023, according to a report from the Ministry of Commerce.
The Kingdom’s imports from the EU fell by 3.3 percent to $917 million from $949 million in 2023, as stated in the report.
The total two-way trade (exports and imports combined) rose by 15.47 percent to $5.32 billion, it added.
Spain and Germany were Cambodia’s largest trade partners within the EU, with bilateral trade volumes of $1,041 million and $911 million respectively, the report indicated.
Cambodia’s other trading partners in the EU include France, Belgium, and the Netherlands.
“The Kingdom’s trade with the EU comprised 9.62 percent of the total trade amounting to $55.37 billion,” the source highlighted.
Cambodia primarily exports textiles, footwear, bicycles, foodstuffs, milled rice, and other agricultural products to the EU under the EBA (Everything but Arms) scheme.
The increase in exports to the EU demonstrates that Cambodia’s products are competitive, fulfilling larger orders and meeting the growing demand in Europe, stated Penn Sovicheat, Secretary of State at the Ministry of Commerce.
“This sustained growth in exports signifies the increasing competitiveness of Cambodian goods in the European market,” he remarked.
