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| Construction steel products of Viet Duc Steel Joint Stock Company (Vinh Phuc). (Photo: VNA) |
In a bulletin published on July 8, the website sbm.news, citing a source from the Cambodian Ministry of Commerce, said that during the above period, the total bilateral trade turnover between this country and Vietnam reached more than USD2.8 billion, an increase of nearly 3% from the same period in 2022.
Cambodia's export goods to Vietnam reached about USD1.3 billion, while the country imported goods worth more than USD1.5 billion from Vietnam.
With a positive growth in trade scale in the first months of this year, Vietnam is not only Cambodia's largest partner in ASEAN but also Cambodia's third largest trading partner in the world, after China and the US.
According to Cambodian media, the value of goods exported from Cambodia to Vietnam increased mainly from the export of agricultural products, thanks to the annual increase in the harvest in this country. Cambodia's main exports to Vietnam include rice, rubber, cashew nuts, cassava, maize, bananas, mangoes, tobacco and natural resources.
In the opposite direction, Cambodia imports from Vietnam items such as construction materials, machinery, fuel, electrical and electronic items, fertilizers, spices and vegetables.
According to data from the Ministry of Commerce of Cambodia, although bilateral trade turnover with Vietnam increased quite well, the total trade scale between this country and ASEAN countries decreased in the first 5 months of the year, reaching just over USD6 billion, down more than 15% from the same period in 2022.
Over the past time, the scale of trade between Vietnam and Cambodia has continuously grown at an average rate of 18.5% per year in the period 2010-2015 and over 21% in the period 2015-2020.
In the context of the COVID-19 pandemic, Vietnam is one of Cambodia's three largest trading partners, with a total bilateral trade turnover of USD9.54 billion in 2021, an increase of more than 79% compared to 2020.
In 2022, the bilateral trade scale between Vietnam and Cambodia reached USD10.57 billion, an increase of nearly 11% compared to 2021./.