A bird’s-eye view of the Sihanoukville Autonomous Port, Cambodia’s largest port. Supplied
Cambodia’s international trade in 2024 reached a total value of nearly $55 billion, marking a nearly 20% increase compared to 2023. Despite this growth, Cambodia’s trade balance remained in deficit, at close to $2.4 billion, as reported by the General Department of Customs and Excise (GDCE).
Data showed that during 2024, Cambodia’s total imports and exports amounted to $54.74 billion, an increase of 16.9% over the $46.83 billion measured in the year prior. Exports were valued at $26.2 billion, up 15.7%, while imports reached $28.54 billion, an increase of 18%.
Cambodia's top five trading partners were China, the US, Vietnam, Thailand and Japan. The Kingdom’s main exports were garments and textiles, fruits and seeds, machinery, electrical equipment, footwear and rubber products, while major imports included machinery, vehicles, metal products, plastic items and chemicals.
Hong Vanak, an economist at the Royal Academy of Cambodia, told The Post on January 10 that political stability and improvements in the investment legal system have helped Cambodia attract more global companies to set up factories for export production.
He also mentioned that Cambodia enjoys special tax privileges on exports to certain countries, which is also an advantage.
Vanak highlighted that in addition to these factors, the Kingdom has formed major trade agreements large markets like China, South Korea and the UAE, as well as the Regional Comprehensive Economic Partnership (RCEP).
“The positive performance of Cambodia’s international trade in 2024 is the result of strong collaboration between the government and the private sector, through the implementation of new strategies to attract investors, as well as effective promotion of Cambodia on the international stage,” he said.
In 2024, the Council for the Development of Cambodia (CDC) approved 414 investment projects, a 54% increase (146 projects) over 2023, which saw 268 projects approved. Total investment capital reached $6.9 billion, a 40% increase from the $4.92 billion seen in 2023.
