Cambodia Reports $390-M Trade Deficit In 1st 2 Months Of 2014

Posted by: : Paul EbelingPosted on: March 14, 2014 Cambodia Reports $390-M Trade Deficit In 1st 2 Months Of 2014

Cambodia Reports $390-M Trade Deficit In 1st 2 Months Of 2014

Cambodia has recorded a trade deficit of 23% in equivalent to US$390-M  in the 1st 2 months of this year, according to the figures of the Ministry of Commerce Thursday.

Total import and export volume was valued at US$ 2.95-B during the January-February frame this year, 9% from US$2.7-B over the same period last year, the figures said.

Export rose by 13% to US$1.28-B, while import rose by 6%to US$ 1.67-B, leading the trade deficit of US$390-M.

The country’s main trading partners are the United States, European countries, China, South Korea, Japan, Thailand, Vietnam, Singapore and Malaysia.

Cambodia exports mostly garments and shoes, dry rubber, milled rice and cassava chips and it imports raw materials for garment production, petroleum, construction materials, automobiles and motorcycles, food items and pharmaceutical and cosmetic products.

Apparel products accounted for more than 80% of the country’s total exports.

Last month, the country launched a 5-yr trade integration strategy, aiming at boosting exports so as to reduce trade deficit.

At the launching, Prime Minister Hun Sen said the country’s exports of goods and services increased by more than twofold in the last 7 yrs from US$4.5-B in Y 2007 to US$ 9.4-B in Y 2013.

He said Cambodia’s key products need to be broadened promotion overseas including garments, footwear, bicycles, processed food, fisheries products, milled rice, cassava, rubber, tourism and silk products.

Stay tuned…

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Paul Ebeling

Pattern Recognition Analyst, equities, commodities, forex
Paul Ebeling is best known for his work as writer and publisher of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly-regarded, weekly financial market letter, where he enjoys an international audience among opinion makers, business leaders, and respected organizations. Something of a pioneer in online stock market and commodities discussion and analysis, Ebeling has been online since 1994. He has studied and worked in the global financial and stock markets since 1984.
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