Vietnam – Cambodia trade hits nearly US$5 billion over nine months
VOV.VN - Two-way trade turnover between Vietnam and Cambodia rose 3% in the first nine months of this year to reach US$4.77 billion, according to statistics unveiled by the Cambodian Ministry of Economy and Finance.
Of the total, Cambodian exports to Vietnam fetched US$2.028 billion, up 30.7% year on year, while its imports dropped 11% to US$2.736 billion.
September 2023 alone saw Cambodia rake in more than US$185.2 million from exports to Vietnam, an increase of 104.5% year on year. The market also imported US$286.1 million worth of goods from Vietnam, down 4.3% over the same period last year.
Currently, Vietnam is Cambodia’s third largest trading partner globally after China and the US, the largest trade partner in ASEAN and the second largest export market globally after the US.
Economic, trade and investment cooperation is a bright spot in bilateral relations. Trade exchanges between the two countries have grown strongly over the years, reaching more than US$10.57 billion last year, up nearly 11% compared to 2021.
The Vietnam Trade Office in Cambodia reports that the structure of Vietnam’s export products to Cambodia is diverse, thanks to regular industry and business connections.
Some major products that Vietnam exports to Cambodia include iron and steel, fertilizer, petroleum, machinery and equipment. Vietnamese consumer goods are increasingly present in Cambodia’s sales chains.
With regard to investment, currently Vietnam has 205 valid investment projects in Cambodia with a total registered capital of US$2.94 billion, ranking first in ASEAN and in the top 5 foreign investors in the country. Notably, Cambodia is the second largest Vietnamese investment recipient abroad.
