The merchandise trade volume between Cambodia and Indonesia totalled $948.533 million in 2022, surging by 48.27 per cent over a year earlier, with Cambodian imports constituting a 96.12 per cent share, inching up by 1.08 percentage points on a yearly basis, according to the General Department of Customs and Excise (GDCE).
In 2022, Cambodian goods exports to and imports from Indonesia amounted to $36.839 million and $911.694 million, respectively, up 15.9 per cent and 49.96 per cent year-on-year, expanding the Kingdom’s trade deficit with the archipelago nation by 51.84 per cent to $874.854 million, from $576.167 million in 2021.
Last month alone, the Cambodian-Indonesian merchandise trade volume was to the tune of $118.29 million, up 63.8 per cent from $72.20 million in December 2021 and up 102.9 per cent from $58.30 million in November 2022.
The Kingdom’s exports accounted for just over $3.5 million, up 33 per cent year-on-year but down 12 per cent month-on-month, while imports came to nearly $114.8 million, up 65.0 per cent year-on-year and up 111.3 per cent month-on-month.
December was the best month for both two-way trade and Cambodian exports to Indonesia last year, with May in second-place recording $96.20 million and $94.60 million, while the top two for imports were September and July at $5.19 million and $4.16 million, GDCE statistics indicate.
The Kingdom’s free trade agreements (FTA) have become a big draw for Indonesian and other foreign investors, particularly the bilateral deals with China and South Korea, as well as the Regional Comprehensive Economic Partnership (RCEP), Cambodia Chamber of Commerce vice-president Lim Heng told the Post on January 19.
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Author: Hin Pisei
Source: The Phnom Penh Post
January 20, 2023
