In the first eight months of this year, total trade volume has increased

Compass Cambodia report - Despite the global economic impact of the Covid-19 outbreak, Cambodia's total trade volume in the first eight months of this year remained positive.  In the January-August period, trade volume totaled $25,610 million, increasing 7.9% from the previous year's period.

According to a report from the Ministry of Economy and Finance, Cambodia's overall exports were valued $11,010 million, up 20.4 percent year on year compared to the same period previous year. Total exports did not include gold.

The total amount of imports was $14,600 million, up 26.7 percent from the previous year, according to the report.

The increase in garments, bicycles, and other export goods such as furniture, rubber, fur skins, solar equipment, electronics and electric parts, wires and cables, bananas, sugar, and other agricultural products such as cassava and mangoes drove the eight-month export growth, according to the ministry.

Fabric imports, construction equipment, fuel, and other products all contributed to the increase in overall imports.

According to the report, the Covid-19 pandemic has had a detrimental influence on Cambodia's economy, particularly the Feb 20 event, which put a lot of pressure on the country's primary sectors of economic growth.

"As of August 2021, international tourist arrivals, activities in the construction sector and foreign investment have continued to decline. However, the non-garment exports, especially bicycles, electronics assembly, wooden products, gold and agricultural products have still continued to keep momentum and the garment export sector has continued to recover," the report read.

The United States, the European Union, China, Japan, South Korea, Thailand, and Vietnam are Cambodia's major trading partners.

Source: Compass Cambodia comprehensive arrangement

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