Vietnam - Cambodia trade turnover soars by 21.9% in nine months
Vietnam is currently one of Cambodia's three largest trading partners, with bilateral trade turnover continuing to grow rapidly by 21.9% year-on-year to US$5.8 billion up to the end of the third quarter of this year, according to the latest statistics from the Cambodian Ministry of Economy and Finance.
Cambodia primarily exported agricultural products such as cashew nuts, and rubber to Vietnam. Vietnam accounts for 13.8% of Cambodia's export market share, while the US makes up for 38.4% of the Southeast Asian nation's market share.
From the first quarter to the third quarter of this year, Cambodia's imports from China accounted for the largest portion, with import turnover reaching US$9.8 billion, equivalent to 46.8% of the import market share.
During the reviewed period, Cambodia run a trade deficit of more than US$8.5 billion with China, while Vietnam ranked second in imports with US$3.1 billion, accounting for 14.6% of the nation’s market share.
Cambodia mainly imported garment and textile products, construction materials, petroleum, plastic products and fertilizers from Vietnam.