According to data from the General Department of Customs and Excise, from January to July this year, Cambodia exported $559 million of goods to Thailand, up 38.36 percent year on year while Thailand’s exports to Cambodia were worth $2.222 billion, up 23.85 percent from the same period in 2021.
Most of Cambodia’s exports to Thailand are agricultural products, while imports from Thailand to Cambodia include automobiles, fuel, construction materials, fertilizers, food products and cosmetics.
In terms of trade balance, Cambodia has a trade deficit with Thailand to the tune of $1.663 billion, or nearly four times greater than its exports.
According to the sixth meeting of the Joint Trade Committee (JTC), the two sides had set a bilateral trade target of $15 billion in 2020.
Hong Vannak, the economic researcher at the Royal Academy of Cambodia, explained that Thailand and Cambodia could not reach the target by 2020 mainly because annual bilateral trade between Cambodia and China rose by over $10 billion.
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Author: Sok Sithika
Source: Khmer Times
August 30, 2022
