Cambodia-US trade up 35 percent in Q1
Two-way trade turnover between Cambodia and the US reached 1.67 billion USD in the first quarter of 2020, up 35 percent year-on-year.
Garment manufacturers at a factory in Phnom Penh (Source: https://www.khmertimeskh.com/)Phnom Penh (VNA) – Two-way trade turnover between Cambodia and the US reached 1.67 billion USD in the first quarter of 2020, up 35 percent year-on-year.
According to the Cambodian Ministry of Commerce, Cambodian exports were valued at 1.59 billion USD, up 42 percent year on year, while its imports were 85 million USD, down 30 percent.
Cambodia mainly exported textiles, footwear, travel goods and agricultural product to the US while importing vehicles, animal feed and machinery.
Lim Heng, Vice-President of the Cambodia Chamber of Commerce, said that the trade figure reflects the increasing manufacturing activities in Cambodia for exports.
Since the Generalised System of Preferences (GSP) of the US was granted to Cambodia in 2016, exports of travel goods such as luggage and handbags have increased sharply.
According to the Garment Manufacturers Association in Cambodia (GMAC), 80 percent of the travel goods worth 1.2 billion USD last year were shipped to the US market./.
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