Vietnam becomes largest ASEAN trading partner of Cambodia: media
Vietnam became the largest trading partner of Cambodia among members of the Association of Southeast Asian Nations (ASEAN) in the first five months of 2023 as bilateral trade made up nearly 50% of the total between Cambodia and ASEAN members during the period.
Containers of goods at Saigon Port in Vietnam (Photo: VNA)
PhnomPenh (VNA) – Vietnam became the largest trading partner of Cambodiaamong members of the Association of Southeast Asian Nations (ASEAN) in thefirst five months of 2023 as bilateral trade made up nearly 50% of the totalbetween Cambodia and ASEAN members during the period.
Duringthe five months, trade between the two countries topped 2.8 billion USD, risingnearly 3% from a year earlier. Cambodia exported about 1.3 billion USD worth ofgoods to and imported commodities totalling over 1.5 billion USD from Vietnam, said the Cambodian Ministry of Commerce as cited by sbm.news.
With suchpositive trade growth, Vietnam was not only the biggest in ASEAN but alsoranked third among all trading partners of Cambodia, after China and the US,during the period.
The growthin Cambodia’s exports to Vietnam was mainly driven by the higher shipments offarm produce thanks to increased harvests. Its main exports include rice,rubber, cashew nut, cassava, corn, banana, mango, tobacco, and naturalresources.
Meanwhile,the main imports from Vietnam include construction materials, machinery, fuels,electrical and electronic devices, fertiliser, seasonings, vegetables, andfruits, the Cambodian newswire reported.
Trade turnoverbetween the two countries has risen continually in recent years, by an annualaverage of 18.5% during 2010 - 2015 and over 21% during 2015 - 2020.
Amid theCOVID-19 pandemic, Vietnam was also one of the top three trading partners ofCambodia, with bilateral trade surging over 79% from 2020 to 9.54 billion USDin 2021. In 2022, the figure stood at 10.57 billion USD, up nearly 11% fromthe previous year, data of the Cambodian Commerce Ministry showed./.
The Vietnamese Embassy in Cambodia in coordination with the Ministry of Industry and Trade (MoIT)'s Asia–Africa Market Department held a trade forum in Phnom Penh on June 7, which brought together more than 100 businesses of the two countries.
Cambodia’s total trade turnover with world partners topped 19.2 billion USD in the first five months of 2023, a decrease of 14% compared to the same period last year, according to data from the country’s Ministry of Economy and Finance.
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Containers of goods at Saigon Port in Vietnam (Photo: VNA) 
