The three largest exporters to Cambodia – mainland China, Vietnam and Thailand – accounted for 60.94 per cent of the Kingdom’s whole merchandise imports final 12 months, at $18.245 billion, which was up 11.99 per cent over 2021, based on the Basic Division of Customs and Excise.
Cambodia’s whole imports grew by 4.32 per cent on a yearly foundation to $29.942 billion in 2022, with mainland China representing the lion’s share at $10.446 billion or 34.89 per cent, up 7.86 per cent year-on-year, adopted by Vietnam ($3.967 billion; 13.25% share; up 26.20%) and Thailand ($3.833 billion; 12.80% share; up 10.66%).
In December alone, whole imports dipped by 33.34 per cent on a yearly foundation to $2.195 billion, with mainland China once more ranked first at $975.790 million or a 44.46 per cent share, down by 11.57 per cent year-on-year, adopted by Vietnam ($349.887 million; 15.94% share; up 3.29%) and Thailand ($290.481 million; 13.24% share; down 25.35%).
Rounding out the listing of prime 20 exporters to Cambodia for 2022 have been: Indonesia, Taiwan, Singapore, Japan, South Korea, Malaysia, Hong Kong, the US, India, Laos, Australia, the UK, Belgium, Botswana, Germany, Italy and France, based on the Basic Division of Customs.
Of word, Cambodian imports from the southern African nation of Botswana noticed the most important year-on-year development in 2022, at 393.6 per cent to $64.079 million, in comparison with $12.981 million in 2021.
Though GDCE figures for particular person commodities weren’t instantly obtainable, knowledge from on-line portal Buying and selling Economics present that every one official Cambodian imports from Botswana in 2021 have been within the “pearls, treasured stones, metals, cash” class, equivalent to Chapter 71 of the harmonised tariff schedule.
Cambodia Chamber of Commerce (CCC) vice-president Lim Heng commented to The Submit on January 29 that, as a growing nation, the Kingdom requires comparatively giant volumes of imported uncooked supplies to fulfill home demand in addition to to course of into export merchandise.
He put down Cambodia’s reliance on the large three exporters to proximity, good diplomatic relations, and the widely acceptable high quality and costs for his or her merchandise.
Heng predicted that the three markets would stay key suppliers of uncooked supplies and different important items for the long-term, stating that Cambodia’s bilateral free commerce settlement (FTA) with China would improve two-way export flows going ahead.
Main imports from these markets embody Chinese language textiles and different uncooked supplies for export processing, each day requirements, electronics and electrical home equipment, fruits, greens, meals and drinks, prescription drugs and building supplies, he mentioned.
Hong Vanak, director of Worldwide Economics on the Royal Academy of Cambodia, equally remarked that demand for uncooked supplies and client items is sort of excessive within the Kingdom, including that export-oriented manufacturing accounts for the “majority” of imports.
Nonetheless, with GDCE statistics indicating a collective 15.02 per cent on-year growth in Cambodia’s commerce deficit with the three markets, Vanak known as for extra public-private efforts to advertise the cultivation, manufacturing and processing of extra native items to spice up provide and cut back imports.
“Enhancing the productiveness of SMEs [small- and medium-sized enterprises] is an absolute should and will have a slew of constructive results for Cambodia’s total financial development sooner or later,” he mentioned.
