Vietnam, Cambodia witness sharp increase in two-way trade revenue

It is anticipated that the import and export revenue between Vietnam and Cambodia will reach 9.3 billion USD in 2021, a sharp advance of 75% compared to 2020, according to the Vietnam Trade Office in Cambodia.

The Trade Office cited statistics from the General Department of Vietnam Customs showing that import and export revenue between the two countries was reported at 8.63 billion USD in the first 11 months of this year, a dramatic rise of 84% compared to the same period last year.

Of the total, Vietnam posted revenue of 4.35 billion USD from exports to Cambodia, up 17%, and Cambodia reported over 4.28 billion USD from exports to Vietnam, up 337% over the same period last year.

Vietnam enjoyed total trade surplus of 68 million USD in the 11-month period. The two-way trade revenue between the two countries is expected to climb to 9.3 billion USD by the end of this year, up 4 billion USD (up 75%) over 2020.

Twenty-four out of 29 groups of Vietnamese products exported to Cambodia saw positive growth in the 11 months compared to the same period last year, including vegetables, tubers and fruits (up 152%), animal feed and raw materials (up 22.7%), petrol and oil (up 56.8%), fertilizer (up 64%), and others.

Cambodia also witnessed nine out of 11 groups of products exported to Vietnam with positive growth including vegetables, fruits, cashew nuts, rubber, and others.

Vietnam and Cambodia posted total import and export revenue of over 5.32 billion USD in 2020, a slight increase of 0.84% compared to 2019.

Source: Nhan Dan Online