Cambodia’s exports to Thailand soar 115 percent

Cambodia’s exports to Thailand skyrocketed in the first quarter of this year, although the two countries have imposed strict measures to control cross-border trade midst the COVID-19 spread.

28, Apr. 2020

Poipet, Cambodia (NNA)
Poipet, Cambodia (NNA)

PHNOM PENH, VNA - Cambodia’s exports to Thailand skyrocketed in the first quarter of this year, although the two countries have imposed strict measures to control cross-border trade midst the COVID-19 spread.

During the reviewed period, Cambodia’s total exports to the neighbouring country were valued at 612 million USD, a 115 percent increase over the same period last year.

It imported 1,891 million USD worth of goods from Thailand, a 17 percent increase year-on-year rise, according to official data from Thailand’s Ministry of Commerce.

The data shows that the trade between the two countries grew by 31 percent in the first three months to 2,503 million USD.

The increased amount of bilateral trade between the two countries reflects the good relations between the two nations, particularly government-to-government, said Seang Thay, a spokesman at Cambodia’s Ministry of Commerce.

Agricultural products accounted for the majority of Cambodian exports to Thailand, while Thai exports to Cambodia primarily consisted of energy, fertiliser, cement, food and cosmetics.

In 2015, leaders of the two governments agreed to triple bilateral trade to15 billion USD by 2020 from 5 billion USD in 2015.

Although the target will not be reached, the growth in trade is on a rising trend.

Last year, the two-way trade between the two countries expanded by 12 percent to 9.4 billion USD.- VNA