Logo of Phnom Penh Post newspaper Phnom Penh Post - Kingdom-US trade hits $614M

Kingdom-US trade hits $614M

Content image - Phnom Penh Post
The Kingdom exported $580.6 million worth of goods to the US in January, marking a 3.69 per cent year-on-year surge from $559.9 million. POST STAFF

Kingdom-US trade hits $614M

Bilateral trade between Cambodia and the US amounted to $614.5 million in the first month of this year, up 4.89 per cent over the $585.8 million posted in January 2020, data from the US Census Bureau show.

The Kingdom exported $580.6 million worth of merchandise during the period, up 3.69 per cent year-on-year from $559.9 million, and imported $33.9 million, up 30.88 per cent year-on-year from $25.9 million.

Cambodia Chamber of Commerce vice-president Lim Heng told The Post on March 7 that the ongoing Covid-19 vaccination drives in the Kingdom and in the US would lead to a year-on-year increase in bilateral trade for 2021, pointing out that the US is Cambodia’s main export destination.

While the US has not reauthorised its General System of Preferences (GSP) trade-benefits programme following its December 31 lapse, Heng noted that the number of international companies applying to open factories in the Kingdom has not shown signs of slowing.

“The US is a major market for Cambodia, so with the resumption of the US economy, demand for imports of all kinds of consumer goods will surge in parallel,” he said. “When the US government subsequently renews GSP [privileges] to Cambodia, there’ll be more companies with a US market coming to invest in Cambodia.”

Heng is optimistic that scores of new Cambodian products will make their debut on the US market this year, in addition to existing offerings with high-sales potential such as clothing, footwear, bags and electronic components.

At the same time, he cautioned that shipping costs have been on a steep uptrend in recent months and could potentially pose as barriers to Cambodia’s international trade.

Hong Vanak, director of International Economics at the Royal Academy of Cambodia, pointed out that Cambodian-US trade figures were a bright spot in a global commercial landscape mottled with Covid-19 blotches.

“I think that with this first-rate start, the two countries’ total trade balance will grow significantly in 2021,” he said, adding that textiles remain a priority for Cambodian export to the US.

Trade between Cambodia and the US was worth $6.9213 billion last year, up 17.89 per cent over 2019, data from the US Census Bureau show.

Cambodian exports to the US were to the tune of $6.5777 billion, up 22.79 per cent from the $5.3568 billion posted in 2019, while imports clocked in at $343.6 million, down 33.15 per cent from $514 million.


  • NY sisters inspired by Khmer heritage

    Growing up in Brooklyn, New York, Cambodian-American sisters Edo and Eyen Chorm have always felt a deep affinity for their Cambodian heritage and roots. When the pair launched their own EdoEyen namesake jewellery brand in June, 2020, they leaned heavily into designs inspired by ancient Khmer

  • Omicron patients can stay home: PM

    Prime Minister Hun Sen has given the green light for anyone who contracts the SARS-CoV-2 Omicron mutation or any other variant to convalesce or receive treatment at home or in any other reasonable non-healthcare setting. The new decision supersedes a restriction on home care for

  • Cambodia records first Omicron community case

    The Ministry of Health on January 9 reported 30 new Covid-19 cases, 29 of which were imported and all were confirmed to be the Omicron variant. The ministry also reported 11 recoveries and no new deaths. Earlier on January 9, the ministry also announced that it had detected the Kingdom's

  • The effects of the USD interest rate hike on Cambodian economy

    Experts weigh in on the effect of a potential interest rate expansion by the US Federal Reserve on a highly dollarised Cambodia Anticipation of the US Federal Reserve’s interest rate hike in March is putting developing economies on edge, a recent blog post by

  • Cambodia’s first ever anime festival kicks off Jan 22 at capital’s F3 centre

    Phnom Penh's first ever Anime Festival will bring together fans, artists, shops and other local businesses with ties to the Japanese animation style for cosplay competitions, online games, pop-up shops and more on January 22, with Friends Futures Factory (F3) hosting. F3 is a project that

  • PM eyes Myanmar peace troika

    Prime Minister Hun Sen has suggested that ASEAN member states establish a tripartite committee or diplomatic troika consisting of representatives from Cambodia, Brunei and Indonesia that would be tasked with mediating a ceasefire in Myanmar. The premier also requested that Nippon Foundation chairman Yohei Sasakawa