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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.
Cambodia-US trade up 35 percent in Q1 ảnh 1Garment manufacturers at a factory in Phnom Penh (Source: https://www.khmertimeskh.com/)

Phnom Penh (VNA) – Two-way trade turnover between Cambodia and the USreached 1.67 billion USD in the first quarter of 2020, up 35 percentyear-on-year.

According to theCambodian Ministry of Commerce, Cambodian exports were valued at 1.59 billionUSD, up 42 percent year on year, while its imports were 85 million USD, down 30percent.

Cambodia mainlyexported textiles, footwear, travel goods and agricultural product to the USwhile importing vehicles, animal feed and machinery.

Lim Heng, Vice-Presidentof the Cambodia Chamber of Commerce, said that the trade figure reflects theincreasing manufacturing activities in Cambodia for exports.

Since the GeneralisedSystem of Preferences (GSP) of the US was granted to Cambodia in 2016, exportsof travel goods such as luggage and handbags have increased sharply.

According to theGarment Manufacturers Association in Cambodia (GMAC), 80 percent of the travelgoods worth 1.2 billion USD last year were shipped to the US market./.
VNA
#Two-way trade#Cambodia#US#first quarter of 2020#Cambodian exports#Cambodia Chamber of Commerce#Vietnam#Vietnamplus#Vietnam News Agency
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