Cambodia’s trade deficit hits 2.2 billion USD in 2016
Cambodia’s trade deficit in 2016 reached 2.2 billion USD as its total trade value hit 21.93 billion USD, up 6.8 percent from 2015, according to the Cambodian Ministry of Commerce.
Rice is one of Cambodia's key export commodities (Source: phnompenhpost.com)
Hanoi (VNA) – Cambodia’s trade deficit in2016 reached 2.2 billion USD as its total trade value hit 21.93 billion USD, up6.8 percent from 2015, according to the Cambodian Ministry of Commerce.
The country’s export earnings were 9.86 billion USD,an increase of 9.6 percent, while its import value upped 4.59 percent to 12.07billion USD.
Cambodian Minister of Commerce Pan Sorasak said themain reason behind the big trade deficit was the fiercer competition betweenCambodian products and foreign goods on the international market.
In order to boost its exports, Cambodia opened tradecentres in China, including those in Beijing, Shanghai, Haining city inZhiejiang province, Guangzhou city in Guangdong province and Xian city inShaanxi province.
Thailand, Vietnam, Singapore, Malaysia, China, theRepublic of Korea, Japan, the US and the EU are Cambodian’s big trade partnerswhile garments and textiles, footwear, rice and rubber are Cambodia’s export staples.-VNA
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Rice is one of Cambodia's key export commodities (Source: phnompenhpost.com)
