Workers sew clothing in a garment factory in the Preah Sihanouk Special Economic Zone. Post Staff
The value of Cambodian-made exports to Canada saw a significant rise in the first nine months of 2024, reaching nearly $850 million, a more than 30% increase compared to the same period in 2023. Total bilateral trade amounted to close to $900 million, with Canada ranking as Cambodia's sixth-largest trading partner.
According to data from Cambodia's General Department of Customs and Excise (GDCE), exports to Canada from January to September 2024 totalled $848.68 million, a 30.8% increase over the same period in 2023, when $648.77 million was recorded. Meanwhile, Canadian imports to Cambodia amounted to just $47.3 million, down 5.6% from $50.1 million.
The total trade volume between the two countries stood at $895.98 million, an increase of 28.2% from the $698.87 million recorded during the same period in 2023, with Cambodian exports accounting for 94.72% of bilateral trade. The Kingdom’s trade surplus with Canada reached $801.38 million in the first nine months of 2024, compared to $598.66 million in the same period of 2023.
Lim Heng, vice-president of the Cambodia Chamber of Commerce (CCC), told The Post on November 8 that the increase in export revenue to international markets over the past year was partly driven by a rise in garment exports to Canada. The easing of Covid-19 concerns has spurred travel, resulting in greater demand for clothing, footwear and travel accessories, products that Cambodia is known for producing in large volumes each year.
He added that to build on strong diplomatic and trade relations, the CCC recently opened a representative office in Toronto, Canada. The office promotes Cambodian products to Canadian customers and provides information to attract Canadian investors to Cambodia.
“Cambodia’s export earnings to Canada will likely continue to grow as the country exports not only garments but also agricultural products and other components to Canada,” he said.
He noted that Cambodia currently benefits from Canadian duty-free privileges for certain goods.
According to Heng, the majority of Cambodia’s exports to Canada are garments, travel goods, footwear, tyres and electronic components, while Canadian imports mainly consist of electronics, medical devices and vehicles.
During a bilateral meeting between Cambodian Prime Minister Hun Manet and Canadian Prime Minister Justin Trudeau on the sidelines of the ASEAN summit in Vientiane, Laos, on October 11, Trudeau discussed strengthening diplomatic ties with Cambodia.
He announced plans to open an embassy in Phnom Penh soon, which aims to reinforce cooperation and solidify the countries’ relationship.
Ly Kunthai, president of the Confederation of Cambodia Investors Association (CCIA) and the Cambodia Footwear Association, recently explained that Canada is a key market for Cambodian garments, with exports showing positive signs since the end of 2023.
He attributed the rise in exports to countries like Canada to the easing of geopolitical tensions and a resurgence in global tourism following over three years of disruptions due to the Covid-19 pandemic.
“In 2024, Cambodia’s garment exports are set to surpass 2023 figures. Canada remains a major market for Cambodian textiles,” he added.
In 2023, Cambodia-Canada bilateral trade totalled $940.48 million, down 18.5% compared to the $1.15 billion recorded in 2022. Cambodian exports to Canada reached $869.54 million, a decline of 22.4%, while Canadian imports to Cambodia increased by 109.4% to $70.95 million.
