INSIGHTS
- In Q1 2023, exports from Cambodia to RCEP nations increased 16% YoY to $2.89 billion, with Vietnam, Thailand, and China leading the way.
- China was the largest importer into Cambodia, contributing $2.53 billion.
- This development was aided by the RCEP trade agreement, which went into force in 2022.
- RCEP accounted for roughly 60% of Cambodia’s $52 billion in commerce in 2022.
According to the most recent statistics from the ministry of commerce, Cambodia’s exports in the first quarter (Q1) of 2023 to the RCEP nations were $2.89 billion, representing a 16% rise over the same time in the previous year.
Vietnam, Thailand, and China were Cambodia’s top export destinations under the RCEP, with shipments valued at $1.25 billion, $958 million, and $328 million, respectively.
China replaced Japan as Cambodia’s biggest importer, with a $2.53 billion total import value. Thailand and Vietnam came in second and third, with imports totaling $957 million and $440 million, respectively.
By- Mansi Suryawanshi
