Cambodia's export trade in January this year reached a new record of 27%, driven by the growth of garments

Phnom Penh: Cambodia's exports in January 2024 recorded a significant growth rate of 27%, a new record for many months since the Covid-19 outbreak.

According to a report by the General Department of Customs and Excise of Cambodia, Cambodia's exports in January this year reached a total of 1.967 billion US dollars, an increase of 27% compared to the same period last year.

Cambodia's import trade in the first month of this year increased by 8.7% to about US $ 2.090 billion compared to the same period last year.

The growth of Cambodia's export trade in the first month of this year was largely driven by growth in key goods such as textiles, garments, footwear and travel bags, showing a double-digit increase in exports after Exports of these goods have been declining for several consecutive months throughout most of 2023 due to weak orders from Cambodia's major trading partners such as the United States and the European Union.

In addition, exports of agricultural products such as natural seeds and rubber also increased significantly. Cambodia's main export items include textiles, garments, clothing, footwear and travel bags, accessories, electrical appliances, machinery, electronics, furniture, bicycles, plastics and jewelry. Most of the goods that Cambodia imports include raw materials, textiles, garments, precious stones and jewelry, fuel, construction materials, electronics, vehicles, groceries and medicine and medical equipment. According to the same data, Cambodia exported about 22.64 billion US dollars worth of goods by 2023. This figure is up 1.8% compared to 2022. At the same time, Cambodia's imports reached 24.18 billion US dollars, down 5% compared to 2022.