Cambodia-Australia trade surges 60.9% YoY in 2022
Bilateral trade between Cambodia and Australia has surged by 60.9 per cent to reach $523 million from $325 million in 2021, according to data released by the General Department of Customs and Excise (GDCE). Exports from Cambodia to the partner country rose by 84.6 per cent to $379 million from $205 million, while imports increased by 20.3 per cent to $144 million from $120 million.
The surge in trade between the two countries can be attributed to the Regional Comprehensive Economic Partnership (RCEP) agreement which came into effect on January 1, 2022.
Cambodia’s trade surplus with Australia amounted to $234 million in 2022, as per GDCE data.
Products like garments, footwear, travel goods and gold are majorly exported by Cambodia to Australia, while it imports machinery, coal, and cereal preparations among other things.
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Cambodia-International Trade News
- Bong Burgundy
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Any idea on the import / export tax that applies to the goods that are sold / bought between the two countries. Going by the price of most of the Australian produce sold here, eg, milk, cheese, I will assume the tax on Australian products is very high.
I think it's more a case of who's doing the importing - and who's retailing. Super Duper is known to be more expensive, for example, than smaller retailers like 1 & 1.Cooker wrote: ↑Sun Jan 29, 2023 1:37 pmGoing by the price of most of the Australian produce sold here, eg, milk, cheese, I will assume the tax on Australian products is very high.
I think, in general, Khmers and Chinese retailers settle for lower profit margins and higher volumes, while Aussies want quicker returns?
Shipping costs also play a huge part in deciding upon the retail cost of products,
As recent as late last year the company I work for was having to pay shipping fees of $14,000 per 40ft container which were comming from Southern China To Melbourne.
As recent as late last year the company I work for was having to pay shipping fees of $14,000 per 40ft container which were comming from Southern China To Melbourne.
I refuse to go out with nothing more than a whimper followed by a small farting sound and a shit stain on my bed sheets..
Just thought I'd share that with you.
Just thought I'd share that with you.
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Cambodia, S Korea to enhance trade, investment using FTA
Cambodia and South Korea recently agreed to enhance bilateral trade and investment by maximising their free trade agreement (FTA) that came into force a month earlier, according to the latter’s industry ministry. The development came at a business and investment forum in Seoul attended by South Korean trade minister Ahn Duk-geun and Cambodia’s commerce minister Pan Sorasak.
“The bilateral agreement laid the groundwork for the expansion of bilateral trade in a wide range of fields from textile and clothing to cars and machinery, and to agro and fishery food,” Ahn said during the forum.
“The two nations will be able to further strengthen cooperation on digital economy, clean energy and various other sectors to help advance Cambodia’s industrial structure, and to jointly achieve net-zero goals,” he said.
South Korea will support Cambodia’s technology development through official development assistance programmes, Ahnwas quoted as saying by a news agency.
The FTA, which took effect on December 1 last year, calls for a higher level of market opening than the existing South Korea-ASEAN FTA and the multilateral trade pact of Regional Comprehensive Economic Partnership (RCEP), the ministry said.
Bilateral trade was worth $1.05 billion last year.
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Cambodia and South Korea recently agreed to enhance bilateral trade and investment by maximising their free trade agreement (FTA) that came into force a month earlier, according to the latter’s industry ministry. The development came at a business and investment forum in Seoul attended by South Korean trade minister Ahn Duk-geun and Cambodia’s commerce minister Pan Sorasak.
“The bilateral agreement laid the groundwork for the expansion of bilateral trade in a wide range of fields from textile and clothing to cars and machinery, and to agro and fishery food,” Ahn said during the forum.
“The two nations will be able to further strengthen cooperation on digital economy, clean energy and various other sectors to help advance Cambodia’s industrial structure, and to jointly achieve net-zero goals,” he said.
South Korea will support Cambodia’s technology development through official development assistance programmes, Ahnwas quoted as saying by a news agency.
The FTA, which took effect on December 1 last year, calls for a higher level of market opening than the existing South Korea-ASEAN FTA and the multilateral trade pact of Regional Comprehensive Economic Partnership (RCEP), the ministry said.
Bilateral trade was worth $1.05 billion last year.
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How many tins of bins fit in a 40 ft container?
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MANILA – Cambodia is exploring opportunities to directly export rice to the Philippines, offering an alternative and cheaper source of rice for the country.
Department of Trade and Industry (DTI) Secretary Alfredo Pascual met with a Cambodian delegation on Thursday, led by chief executive officer of the state-owned Green Trade Company Chan Sokty and the president of the Cambodia Rice Federation Okhna Chan Sokheang.
Green Trade is the counterpart of DTI’s Philippine International Trading Corp. (PITC).
The Cambodian delegates are also exploring exporting rice through a government-to-government arrangement between Green Trade and PITC.
“They are still in the fact-finding stage. They are surveying our markets,” Pascual told reporters.
Pascual said Cambodia has a rice surplus of 50 percent of its total rice production, and the Southeast Asian country intends to sell it directly to neighboring countries and also in Europe.
Cambodian rice can enter the Philippine market at 35 percent tariff rate.
Pascual added the Cambodian delegates said they can commit to supply 3 million metric tons of rice to the Philippines, which is the level of imported rice by the country in 2022.
Earlier, Go Negosyo founder and ASEAN Business Advisory Council chair Joey Concepcion said Cambodia expressed intention to directly export unmilled rice to the Philippines on the sidelines of the ASEAN Summit in November 2022.
Concepcion then said Cambodia exports unprocessed rice to Vietnam, wherein the country processes the rice before exporting to other countries like the Philippines.
More than 80 percent of the country’s rice imports are sourced from Vietnam, according to the Bureau of Plant Industry.
He added that directly buying rice from Cambodia could decrease rice prices in the local market. (PNA)
Department of Trade and Industry (DTI) Secretary Alfredo Pascual met with a Cambodian delegation on Thursday, led by chief executive officer of the state-owned Green Trade Company Chan Sokty and the president of the Cambodia Rice Federation Okhna Chan Sokheang.
Green Trade is the counterpart of DTI’s Philippine International Trading Corp. (PITC).
The Cambodian delegates are also exploring exporting rice through a government-to-government arrangement between Green Trade and PITC.
“They are still in the fact-finding stage. They are surveying our markets,” Pascual told reporters.
Pascual said Cambodia has a rice surplus of 50 percent of its total rice production, and the Southeast Asian country intends to sell it directly to neighboring countries and also in Europe.
Cambodian rice can enter the Philippine market at 35 percent tariff rate.
Pascual added the Cambodian delegates said they can commit to supply 3 million metric tons of rice to the Philippines, which is the level of imported rice by the country in 2022.
Earlier, Go Negosyo founder and ASEAN Business Advisory Council chair Joey Concepcion said Cambodia expressed intention to directly export unmilled rice to the Philippines on the sidelines of the ASEAN Summit in November 2022.
Concepcion then said Cambodia exports unprocessed rice to Vietnam, wherein the country processes the rice before exporting to other countries like the Philippines.
More than 80 percent of the country’s rice imports are sourced from Vietnam, according to the Bureau of Plant Industry.
He added that directly buying rice from Cambodia could decrease rice prices in the local market. (PNA)
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Vietnam spends US$1 billion importing cashew nuts from Cambodia
Cambodia exported a total of 670,000 tonnes of raw cashew nuts worth US$1.07 billion last year to the international market, with 98.5% of its raw cashew nuts worth US$1 billion being shipped to Vietnam.
Furthermore, Cambodia's raw cashew nuts are also one of the main sources for cashew processing in Vietnam.
According to details given by the Vietnam Cashew Association (Vinacas), last year Vietnam imported about 1.9 million tonnes of raw cashew with an average price of US$1,400 per tonne. Local businesses spent roughly US$2.66 billion on importing raw materials.
Vietnam continues to represent the leading importer of raw cashew worldwide, with the major providers of cashew nuts for the nation including Cambodia, as well as African countries such as the Ivory Coast, Ghana, Nigeria, and Tanzania.
Currently, the cultivation area for Vietnamese cashew stands at only 300,000 hectares, providing about 30% of raw materials for local businesses’ processing demand.
Therefore, Vinacas has proposed that the Ministry of Agriculture and Rural Development devise a long-term plan specifically for cashew growing areas by developing cashew material zones in both Cambodia and southern Laos.
Source: VOV
Cambodia exported a total of 670,000 tonnes of raw cashew nuts worth US$1.07 billion last year to the international market, with 98.5% of its raw cashew nuts worth US$1 billion being shipped to Vietnam.
Furthermore, Cambodia's raw cashew nuts are also one of the main sources for cashew processing in Vietnam.
According to details given by the Vietnam Cashew Association (Vinacas), last year Vietnam imported about 1.9 million tonnes of raw cashew with an average price of US$1,400 per tonne. Local businesses spent roughly US$2.66 billion on importing raw materials.
Vietnam continues to represent the leading importer of raw cashew worldwide, with the major providers of cashew nuts for the nation including Cambodia, as well as African countries such as the Ivory Coast, Ghana, Nigeria, and Tanzania.
Currently, the cultivation area for Vietnamese cashew stands at only 300,000 hectares, providing about 30% of raw materials for local businesses’ processing demand.
Therefore, Vinacas has proposed that the Ministry of Agriculture and Rural Development devise a long-term plan specifically for cashew growing areas by developing cashew material zones in both Cambodia and southern Laos.
Source: VOV
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Always interesting to note the exports, rather than aid/loans/imports
Cambodia's exports to EU surge 25% YoY to $4.045 bn in 2022
Cambodia’s exports to the European Union (EU) last year were worth $4.045 billion—a more than 25 per cent hike from the $3.229 billion registered in 2021, according to the ministry of commerce. Cambodia-EU trade was worth $4.857 billion last year, rising by 15.9 per cent from $4.190 billion in 2021.
The country’s imports from the bloc were worth $812 million, dropping by nearly 16 per cent year on year (YoY) from $961 million.
Texpro
The country’s trade surplus with the EU expanded just under three-sevenths to $3.23 billion last year, from $2.27 billion in 2021.
Germany was Cambodia’s largest EU trading partner last year, accounting for $1.247 billion—up by 19.28 per cent YoY, followed by Belgium ($731.612 million; up by 32.29 per cent), the Netherlands ($596.712 million; up by 26.95 per cent), France ($542.369 million; up by 25.92 per cent) and Spain ($503.778 million; up by 38.66 per cent), according to the country’s general department of customs and excise (GDCE).
Germany was also the biggest EU buyer of Cambodian goods, at $1.084 billion, marking a 23.03 per cent increase, followed by Belgium ($642.014 million; up by 26.34 per cent), the Netherlands ($552.626 million; up by 25.21 per cent), Spain ($474.764 million; up by 39.05 per cent) and France ($423.131 million; up by 27.89 per cent), GDCE figures show.
Germany, Belgium, the Netherlands, France and Spain contributed nearly 74.6 per cent to total Cambodia-EU trade and over 78.5 per cent to the country’s exports to the bloc, according to a report in a Cambodian newspaper
Even with the EU’s partial withdrawal of the tariff preferences granted to Cambodia under the Everything But Arms (EBA) scheme, exports of garments, footwear, bags, bicycles and other items remain in positive growth territory, Hong Vanak, director of international economics at the Royal Academy of Cambodia said.
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Cambodia's exports to EU surge 25% YoY to $4.045 bn in 2022
Cambodia’s exports to the European Union (EU) last year were worth $4.045 billion—a more than 25 per cent hike from the $3.229 billion registered in 2021, according to the ministry of commerce. Cambodia-EU trade was worth $4.857 billion last year, rising by 15.9 per cent from $4.190 billion in 2021.
The country’s imports from the bloc were worth $812 million, dropping by nearly 16 per cent year on year (YoY) from $961 million.
Texpro
The country’s trade surplus with the EU expanded just under three-sevenths to $3.23 billion last year, from $2.27 billion in 2021.
Germany was Cambodia’s largest EU trading partner last year, accounting for $1.247 billion—up by 19.28 per cent YoY, followed by Belgium ($731.612 million; up by 32.29 per cent), the Netherlands ($596.712 million; up by 26.95 per cent), France ($542.369 million; up by 25.92 per cent) and Spain ($503.778 million; up by 38.66 per cent), according to the country’s general department of customs and excise (GDCE).
Germany was also the biggest EU buyer of Cambodian goods, at $1.084 billion, marking a 23.03 per cent increase, followed by Belgium ($642.014 million; up by 26.34 per cent), the Netherlands ($552.626 million; up by 25.21 per cent), Spain ($474.764 million; up by 39.05 per cent) and France ($423.131 million; up by 27.89 per cent), GDCE figures show.
Germany, Belgium, the Netherlands, France and Spain contributed nearly 74.6 per cent to total Cambodia-EU trade and over 78.5 per cent to the country’s exports to the bloc, according to a report in a Cambodian newspaper
Even with the EU’s partial withdrawal of the tariff preferences granted to Cambodia under the Everything But Arms (EBA) scheme, exports of garments, footwear, bags, bicycles and other items remain in positive growth territory, Hong Vanak, director of international economics at the Royal Academy of Cambodia said.
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