Cambodia’s exports to the European Union (EU) last year were worth 4 billion USD, up 25% compared to the 2021’s figure, according to the country’s ministry of commerce.
Cambodia’s exports to the European Union (EU) last year were worth 4 billion USD, up 25% compared to the 2021’s figure. (Photo: khmertimeskh.com)
PhnomPenh (VNA)ღ - Cambodia’s exports to the European Union (EU) lastyear were worth 4 billion USD, up 25% compared to the 2021’s figure, according tothe country’s ministry of commerce.
The tradeturnover between Cambodia and the EU reached 4.8 billion USD in 2022, anincrease of 15.9% against the previous year. The country spent 812 million USD on imports from this market, resulting in atrade surplus of 3.23 billion USD. Germany wasCambodia’s largest EU trading partner last year with trade turnover amountingto over 1.2 billion USD, up by 19.2%. It was followed by Belgium (731 millionUSD), the Netherlands (596 million USD), France (542 million USD), and Spain(503 million USD), according to Cambodia’s general department of customs andexcise (GDCE). Germany was alsothe biggest EU buyer of Cambodian goods, at over 1 billion USD, marking a 23%increase year-on-year, followed by Belgium (642 million USD), the Netherlands(552 million USD), Spain (474.7 million USD), and France (423 million USD), GDCEfigures show. According toHong Vanak, director of international economics at the Royal Academy ofCambodia, exports of garments, footwear, bags, bicycles and other items to thebloc remain in positive growth, even with the EU’s partial withdrawal of thetariff preferences granted to the country under the Everything But Arms (EBA)scheme. He emphasisedthat Cambodia's economic growth in the past two decades is associated with theactive support of the EU market. It is forecasted that Cambodia's exports tothe EU will continue to increase in value in the near future in the contextthat the bloc is still an important market for the Southeast Asian country, headded./.
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Cambodia’s exports to the European Union (EU) last year were worth 4 billion USD, up 25% compared to the 2021’s figure. (Photo: khmertimeskh.com) 
