Vietnam becomes largest ASEAN trading partner of Cambodia: media

Vietnam became the largest trading partner of Cambodia among members of the ASEAN in the first five months of 2023 as bilateral trade made up nearly 50 percent of the total between Cambodia and ASEAN members during the period.
Cat Lai Port in HCMC (Photo: SGGP)

Cat Lai Port in HCMC (Photo: SGGP)

During the five months, trade between the two countries topped US$2.8 billion, rising nearly 3 percent from a year earlier. Cambodia exported about US$1.3 billion worth of goods to and imported commodities totaling over $1.5 billion from Vietnam, said the Cambodian Ministry of Commerce as cited by sbm.news.

With such positive trade growth, Vietnam was not only the biggest in the Association of Southeast Asian Nations (ASEAN) but also ranked third among all trading partners of Cambodia, after China and the US, during the period.

The growth in Cambodia’s exports to Vietnam was mainly driven by the higher shipments of farm produce thanks to increased harvests. Its main exports include rice, rubber, cashew nut, cassava, corn, banana, mango, tobacco, and natural resources.

Meanwhile, the main imports from Vietnam include construction materials, machinery, fuels, electrical and electronic devices, fertilizer, seasonings, vegetables, and fruits, the Cambodian newswire reported.

Trade turnover between the two countries has risen continually in recent years, by an annual average of 18.5 percent during 2010 - 2015 and over 21 percent during 2015 - 2020.

Amid the Covid-19 pandemic, Vietnam was also one of the top three trading partners of Cambodia, with bilateral trade surging over 79 percent from 2020 to US$9.54 billion in 2021. In 2022, the figure stood at US$10.57 billion, up nearly 11 percent from the previous year, data from the Cambodian Commerce Ministry showed.

Other news