Cambodia reports trade deficit of $1.1 b in first 5 months

Source:Xinhua Published: 2012-6-16 13:14:37

Cambodia recorded a trade deficit in equivalent to 1.1 billion US dollars in the first five months of this year, according to a report of the Commerce Ministry on Saturday.

During January-May period this year, the report showed that the country's total import and export value was 5.16 billion US dollars, up 17 percent from 4.41 billion US dollars at the same period in a year ago.

The imports jumped by 18 percent to 3.13 billion US dollars, while the exports rose by 15 percent to 2.03 billion US dollars, resulting in an trade deficit of 1.1 billion US dollars, it said.

Cambodia is heavily reliant on international trade. The country 's economy is supported by garment industry, tourism, agriculture and construction.

According to the report, the main products Cambodia exported include garments and footwear, rubber latex, milled rice and cassava. On the import side, the country shipped in products including garment and textile raw materials, petroleum, construction materials, automobiles and motorcycles, food and soft drinks, pharmaceutical products and cosmetics.

In the whole year 2011, the country's trade deficit was 1.73 billion US dollars. The main foreign trading partners with Cambodia are the United States, European countries, China, South Korea, Thailand, Vietnam, Malaysia and Canada.

Posted in: Economy

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