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In the meantime, the country mainly bought from China
PHNOM PENH--Cambodia exported more than $6 billion worth of goods to the United States during the first 10 months of 2021, while exports to China amounted to only $1 billion during the same period, according to a summary report on trade released by the Ministry of Commerce on Dec. 27.
With exports reaching $6.07 billion in 2021 compared to $4.3 billion during the same period of 2020, the United States became Cambodia’s biggest export market.
From January through October 2021, the country’s imports from the US totaled $278 million compared to $196 during the same period in 2020, which represented a 42 percent increase in imports this year compared to 2020, the ministry’s report read.
According to the report, most of Cambodia’s imports came from China in 2021. During the first 10 months of the year, Cambodia imported $7.76 billion of goods from that country compared to $5.6 billion in 2020, which represented a 38 percent jump in imports in 2021.
Cambodia’s exports to China totaled $1.2 billion during the first 10 months of 2021, which was a 49 percent increase compared to the same period in 2020 during which the country had exported $820 million in goods to that country.
The European Union (EU) became Cambodia’s second biggest market in 2021, exporting for $2.6 billion compared to $2.5 billion during the same period in 2020, which amounted to a 1 percent increase. In the meantime, Cambodia’s imports from the EU jumped 54 percent, going from $562 million during the first 10 months of 2020 to $864 million during the same period this year.
Moreover, the country’s exports to Japan were $920 million and imports from that country $529 million.
According to the Ministry of Commerce report, Cambodia achieved a trade volume of $37.34 billion during the first 10 months of 2021, up 28 percent compared to the same period in 2020. The country’s exports were worth of $14.28 billion, which was a 2-percent decrease, and imports amounted to $23.06 billion, up 58 percent compared to 2020.
Within ASEAN, Cambodia’s imports from Thailand went up 18 percent, reaching $2.7 billion, and from Vietnam up 19 percent to $2.5 billion during the first 10 months of 2021.
In its summary report, the Ministry of Commerce said that Cambodia’s exports mainly consisted of garments, footwear and travel products, while imports mostly were textiles, electronics and construction materials.