As per the General Department of Customs and Excise, the trade volume between Cambodia and Vietnam observed a 24.5 percent increase, reaching $2.32 billion in Q1, 2024, positioning Vietnam as Cambodia's second-largest trade partner after China. In the same period, Cambodia's exports to Vietnam, mainly agricultural products like cashew nuts, cassava, coconuts, surged by 53 percent to $1.39 billion. Conversely, Cambodia's imports from Vietnam predominantly include refined petroleum products and raw iron bars.
The United States retains the largest share of Cambodia's exports, while Vietnam holds a 22.2 percent share. China, ranking third, saw an 11.4 percent increase in imports from Cambodia, totaling $366 million. Cambodia's import expenditure from Vietnam stood at $934 million, making Vietnam the second-largest source of imports after China. This trade dynamic results in a $458 million surplus with Vietnam, contrasting with a $2.47 billion deficit with China.
Ky Sereyvath, a senior economist, highlighted the trade restrictions imposed by Vietnam on Cambodian agricultural exports, especially through the Sanitary and Phytosanitary Measures at Cat Lai Port, which limits Cambodia's export potential to third countries. He also mentioned the potential impact of the Funan Techo Canal on Vietnam's supply chains, given that over 90 percent of Cambodia's raw cashew nuts, a significant export commodity, are shipped to Vietnam.
Source: khmertimeskh.com