Cambodia records almost 2 bln USD trade deficit in 9 months

PHNOM PENH, Oct. 20 — Cambodia reported a trade deficit of 33 percent in equivalent to 1.99 billion U.S. dollars in the first nine months of this year, the report of the Ministry of Commerce showed Saturday.

During January-September period this year, the report said the country’s total import and export volume was 10.09 billion U.S. dollars, up 20 percent from 8.4 billion U.S. dollars at the same period last year.

The imports increased by 25 percent to 6.04 billion U.S. dollars, whilst the exports rose by 13 percent to 4.05 billion U.S. dollars, leading the trade deficit of 1.99 billion U.S. dollars, it said.

Cambodia’s economy is supported by four main pillars – garment industry, tourism, agriculture and construction.

Key products Cambodia exported include garments and footwear, rubber latex, milled rice and cassava. In return, the country shipped in products including garment and textile raw materials, petroleum, construction materials, automobiles and motorcycles, consuming items, food and soft drinks, pharmaceutical products and cosmetics.

The country’s main foreign trading partners are the United States, European countries, China, South Korea, Thailand, Vietnam, Malaysia and Canada.

Last year, the country saw a trade deficit of only 26 percent or 1.73 billion U.S. dollars.

Sourced: nzweek