Cambodia's 9.19 per cent on-year rise in foreign trade value to the $52.425 billion logged by Customs for 2022 was driven by “in-depth reforms in all areas”, improvements in export competitiveness, and an increasingly favourable business
The bilateral merchandise trade between Cambodia and the UK reached $977.439 million in 2022, up by 23.9 per cent over a year earlier, as shown by Customs data, which has been chalked up to rising post-Covid-19 demand.
With the opening of its first ever branch in Battambang province, Wing Bank is further expanding its banking network in Cambodia.
The government has revised down its 2023 growth forecast for the Cambodian economy to 5.6 per cent versus the 6.6 per cent it put forth in October, citing uncertainty about global economic growth tied to the Ukraine conflict, climate change and the Covid-19 crisis.
A senior French official has called on his countrymen to invest more in Cambodia, citing rapid economic growth, a burgeoning middle class and an overall healthy investment climate.
The recent rally in the price of oil from a monthly low of $72.40 to a high of $82.35 a barrel on China’s move away from Covid measures – which Bloomberg said “may spur daily consumption to hit a record in 2023” – stalled slightly this week.
A total of 222 companies were successfully registered on the Online Business Registration Platform – also known as the “Single Portal” – in the week from 2pm January 16 to 2pm on the 23rd, bringing the cumulative figure to 21,137
The exchange of trade between Cambodia and South Korea in 2022 amounted to $778.9 million, up 0.6 per cent over the same period the previous year.
Cambodia and Switzerland have pledged to further strengthen trade relations and look into establishing a bilateral free trade agreement (FTA), as import-export flows between the two countries passed the $1.4 billion mark in 2022, according to a Ministry of Commerce statement.
The government has developed a game plan to turn Cambodia into a regional and global production hub for automotive and electronic components, draw in more investment in the field, and boosting exports by billions of US dollars in the long run.
Cambodia's official exports of dried red corn kernels reached 163,673.96 tonnes in the first 11 months of 2022 – down by 8.08 per cent from the 178,069.34 tonnes booked in the same period of 2021 – all of which was shipped to Thailand, Vietnam and China,