Cambodia-U.S. Trade Up 37% in 2019
AKP Phnom Penh, February 10, 2020 —
Bilateral trade between Cambodia and the U.S. reached US$5.8 billion last year, a 37 percent increase compared to a year before.
The latest data from the U.S. government shows that Cambodia’s exports to this world largest economic nation grew by 40 percent, to US$5.3 billion, while the imports from the U.S. were valued at US$513 million, a year-on-year increase of 15 percent.
Cambodia’s exports to the U.S. has surged since the Kingdom was granted duty-free benefits for exports of travel goods like luggage, backpacks, handbags, and wallets to the U.S. under the Generalised System of Preferences in July 2016.
H.E. Pen Sorasak, Minister of Commerce, called on the U.S. investors to invest in agricultural sector.
In a trade event on Business Opportunities in Agriculture held here last week, H.E. Pan Sorasak underlined the internal reforms to make the country favorable for investment, particularly in the agriculture sector.
In 2018, the two-way trade between Cambodia and the U.S. was recorded at US$4.26 billion, up 23 percent compared to the previous year, of which US$3.81 billion were Cambodian exports to the U.S.
By Chea Vannak