Cambodia in January-April exported $504.04 million worth of machinery, electrical equipment, electroacoustic transducers, television image recorders and reproducers, and accessories and components thereof, representing a 57.1 per cent year-on-year rise from $320.75 million, according to Customs.
These items accounted for nearly 6.63 per cent of the Kingdom’s total exports in the first four months of this year, which amounted to $7.606 billion, General Department of Customs and Excise of Cambodia (GDCE) statistics show.
In April alone, exports of this category of products clocked in at $138.76 million, marking a nearly 101.3 per cent rise compared to the $68.94 million registered in the same month last year.
Chea Chandara, president of the recently-renamed Logistics and Supply Chain Business Association in Cambodia (Loscba), ascribed the jump in exports to higher volumes of orders from international buyers and a certain level of quality he said generally meets the standards that they require.
He gave other reasons, such as improvements in the political situation, investor confidence and transport infrastructure, as well as relative production sustainability during the Covid-19 pandemic.
“Additionally, he told The Post that Sihanoukville Special Economic Zone (SSEZ) – the Kingdom’s largest special economic zone in terms of size and occupancy – was stepping up production of prominent Cambodian items of export, including the aforementioned category.
He predicted that exports under the category would continue to grow, fuelled by opportunities provided by the bilateral Cambodia-China Free Trade Agreement and Regional Comprehensive Economic Partnership (RCEP), both of which took effect in the Kingdom on January 1.
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Author: Hin Pisei
Source: The Phnom Penh Post
Publication date: 30 May 2022