Logo of Phnom Penh Post newspaper Phnom Penh Post - Exports to US surpass $1.7B in Jan-Feb, growing 53% on-year

Exports to US surpass $1.7B in Jan-Feb, growing 53% on-year

Content image - Phnom Penh Post
The Kingdom’s trade surplus with the US over January-February widened by 57.1 per cent from $1.053 billion to $1.6541 billion. FRESH NEWS

Exports to US surpass $1.7B in Jan-Feb, growing 53% on-year

Bilateral trade between Cambodia and the US in the first two months of 2022 rose 50.0 per cent year-on-year to $1.781 billion from $1.187 billion, data from the US Census Bureau (USCB) showed on April 11.

Cambodia’s exports to the US in January and February totalled $1.7175 billion, up 53 per cent from $1.120 billion while imports from the US fell six per cent to $63.3 million from $67 million a year ago.

This resulted in a trade surplus of $1.6541 billion for Cambodia, widening by 57.1 per cent from $1.053 billion from January-February 2021.

The increase in exports reflected good diplomatic relations between the two countries, observed Hong Vanak, director of International Economics at the Royal Academy of Cambodia.

Despite global economic conditions and transport challenges, caused by high sea freight costs on the back of container shortages, exports to the US continued to exhibit positive signs, and double growth at that.

The US is the largest export market for Cambodia, where goods such as garments, footwear and travel goods, bicycles and electronic components are shipped.

In return, Cambodia imports machinery, electronics and pharmaceuticals from the US.

“The US has significantly helped to attract foreign investors to Cambodia [because] our products receive import tax exemptions through the Generalised System of Preferences [GSP] system,” Vanak told The Post on April 11.

Most of the goods exported are travel-related products, so as more countries reinstate cross-border travels, orders from Cambodia will increase accordingly.

Cambodia Chamber of Commerce vice-president Lim Heng said the US market has played an important role in purchasing products from Cambodia, especially textile-related goods.

He echoed Vanak in saying that trade between the two countries has not declined despite the Covid-19 economic crisis.

“The GSP preference by the US, together with increasing production capacity in Cambodia will boost trade further between the two countries in 2022,” he said.

In 2021, trade between the two countries climbed 32.6 per cent to $9.159 billion from $6.906 billion in 2020, USCB figures indicate.

Last year, Cambodian exports to the US amounted to $8.7453 billion, up by 33.3 per cent from $6.5624 billion in 2020, and imports logged $413.7 million, ticking up by 20 per cent year-on-year from $343.9 million.

The Kingdom’s overall trade surplus with the US over the period widened by 33.98 per cent year-on-year from $6.2185 billion to $8.3316 billion.


  • Bareknuckle champion wants Kun Khmer fighter

    Dave Leduc, who is the current openweight Lethwei boxing champion in Myanmar, has announced that he will travel to Cambodia this year to challenge SEA Games gold medallist Prum Samnang any time that is convenient, after their planned match later this month in Slovakia was

  • Struggling Battambang artist dreams of staging full-scale gallery exhibition

    Leav Kimchhoth, a 55-year-old artist from Battambang province, is a familiar face to locals and tourists alike on the streets of the riverside in Phnom Penh. The one-armed painter and illustrator often hawks his work near the night market on weekends and public holidays. He

  • Five-year-old Hanuman dances his way into hearts of Cambodia

    A young talent from a new-established settlement has emerged, captivating the online world with his mesmerising performances of the traditional Cambodian monkey dance. Roeun Kakada is a five-year-old prodigy who has taken the social media sphere by storm with his exceptional dance skills and dedication

  • Fresh Covid warnings as Thai hospital fills

    A senior health official reminds the public to remain vigilant, as neighbouring countries experience an increase in Covid-19 cases, with the latest surge appearing to be a result of the Omicron XBB.1.5 sub-variant. Or Vandine, secretary of state and spokeswoman for the Ministry of Health,

  • New Law on Taxation comes into effect

    Cambodia has enacted the eagerly-awaited new Law on Taxation, which aims to improve the national tax regime’s compliance with present and future international standards and economic conditions; encourage accountability, effectiveness and transparency in the collection process; and promote investment in the Kingdom. King Norodom

  • PM warns of int’l election interference

    With the national election scheduled to take place in less than two months, Prime Minister Hun Sen has warned foreign nations and their diplomats not to interfere into Cambodia’s domestic affairs. He also hinted that their statements on court verdicts handed down to any