China-Cambodia trade surges by nearly 40%! Furniture becomes the main export category
source:www.77d.cn
Thanks to the close diplomatic relations between the two countries, the bilateral trade volume between China and Cambodia exceeded the 15 billion US dollar mark in 2024, a record high, accounting for nearly 40% of Cambodia's total foreign trade for the whole year. At the same time, China continues to maintain its position as Cambodia's largest source of foreign investment.
According to the latest data from the General Department of Customs and Excise of Cambodia (GDCE), the total bilateral trade volume between China and Cambodia reached 15.19 billion US dollars in 2024, a year-on-year increase of 23.8%. Among them, Cambodia's imports from China amounted to 13.44 billion US dollars, a year-on-year increase of 24.6%; exports to China amounted to 1.75 billion US dollars, a year-on-year increase of 18.4%. Data shows that the bilateral trade deficit in 2024 was 11.69 billion US dollars, higher than 9.31 billion US dollars in 2023.
Industry experts said that as more Chinese investors set up businesses in Cambodia, imports of raw materials and parts will continue to grow. At the same time, they suggested that the Cambodian government and private sector should focus on developing advantageous industries such as agriculture, enhance export capabilities to China, and strengthen infrastructure construction to attract more foreign investors, especially Chinese investors, to invest in Cambodia.
The implementation of the China-Cambodia Free Trade Agreement (CCFTA) will further promote cooperation between Chinese investors and local investors, expand exports to China, and promote bilateral economic and trade relations to a higher level.