Exports surge despite global economic uncertainties

Exports surge despite global economic uncertainties

Cambodia’s export sector soared in the first four months of 2025 despite ongoing global economic uncertainties and crises.

A report from the General Department of Customs and Excise of Cambodia (CDCE) showed on Monday that Cambodia exported $9.13 billion worth of goods to foreign markets in the first four months of this year, up 14 percent from $8 billion in the same period of last year.

Key drivers of this export growth include Cambodia’s traditional strengths in garments, footwear, and travel goods, alongside increasing contributions from other sectors such as bicycles, car tires, and solar panels.

The export of agricultural produce like rice, rubber, cassava, bananas, mangoes, and longans also played a significant role in this positive performance.

The country’s top five export destinations are the United States, Vietnam, Japan, China, and Canada, highlighting the diversification of Cambodia’s trade partners.

This growth of exports showed Cambodia’s products are in demand in the foreign markets amid a challenging global landscape, said Penn Sovicheat, the Ministry of Commerce’s Secretary of State and Spokesman.

“In the situation of markets that are strict, the best choice is to do trade within the region under the framework of RCEP, diversifying markets for Cambodia’s products,” he said.

He emphasized the role of FTAs with China, Korea and the Regional Comprehensive Economic Partnership (RCEP) in unlocking new market opportunities for Cambodian products.

“The implementation of the FTAs has significantly reduced tariffs and trade barriers, making Cambodian goods more competitive in the global marketplace,” he said.

Meanwhile, the report said Cambodia imported $10.36 billion of goods during January-April this year, a year-on-year increase of 19.7 percent.

Key imported goods included petroleum, raw materials for garments, footwear and travel goods, vehicles, machinery, electronic appliances, and consumer products.

Prime Minister Hun Manet has recently urged all stakeholders to work together to maintain existing markets and market diversification for sustainable exports and to enhance the quality of products for market competitiveness.

The premier also urged pursuing new markets with tariff preferences through negotiations of bilateral, regional, and multilateral free trade agreements.

Currently, Cambodia has FTA implementation with China and South Korea and the Comprehensive Economic Partnership Agreement with the United Arab Emirates.

The industrial sector including garment and non-garment manufacturing is one of the main drivers in the country’s economic development, boosting exports, attracting new investment projects.

The garment, footwear and travel goods industry is the largest foreign exchange earner for Cambodia.

The sector currently consists of about 1,538 factories and branches, employing approximately 913,000 workers, mostly female, according to the latest report from the Ministry of Labour and Vocational Training.

khmertimeskh