Cambodia-U.S. Trade Up 16 Percent to US$5 Billion in First Nine Months
AKP Phnom Penh, November 05, 2020 —
Bilateral trade between Cambodia and the U.S. soared to all-time high – US$5,060 million – as of September this year, or up 16 percent compared to the same period last year, despite the COVID-19 crisis.
According to the U.S. Census Bureau, during the nine-month period, Cambodia exported US$4,828 million worth of products to the U.S., a year-on-year increase of 22 percent.
Imports from the U.S. to Cambodia, on the other hand, sharply decreased, sliding down 72 percent to US$232 million during the same period.
Cambodia’s major exported products to the U.S. were textiles, footwear, travel goods and agricultural products while its imports included vehicles, animal feed and machinery.
The exports from Cambodia to the U.S. have increased remarkably since July 2016 when the Kingdom was granted duty-free benefits for the exports of travel goods such as luggage, backpacks, handbags, and wallets under the Generalised System of Preferences (GSP) scheme.
Last year, the two-way trade between the two countries was amounted to US$5.8 billion, a year-on-year increase of 37 percent.
By Chea Vannak