General

According to Huacheng Import and Export Data Observation, in 2022, Cambodia's trade volume with other members of the Regional Comprehensive Economic Partnership Agreement (RCEP) reached 31 billion US dollars, a year-on-year increase of 4%.

In 2022, Cambodia's exports to other RCEP member countries reached 6.34 billion US dollars, a year-on-year increase of 7%; Imports from other RCEP member countries reached US $24.68 billion, a year-on-year increase of 3%. Import and export data show that China is still Cambodia's largest trading partner, with a trade volume of 14.5 billion US dollars in 2022.

According to data previously released by the Cambodian government, Cambodia's total foreign trade in 2022 was 52.4 billion US dollars, a year-on-year increase of 9%. According to import and export data, the total export volume of Cambodia was 22.482 billion US dollars, a year-on-year increase of 16%; The total import volume was US $29.941 billion, up 4.3% year-on-year. The trade volume between Cambodia and RCEP members accounts for nearly 60% of its total trade volume. Huacheng Import and Export Data Observation reports.

The RCEP agreement entered into force on January 1, 2022. RCEP member countries account for about 30% of the world's population, total economic output, and total trade volume, making them the world's most populous free trade zone with the largest economic and trade scale and the most potential for development. Since the entry into force and implementation of the RCEP Agreement, Cambodia's foreign exports have increased significantly.

The World Bank previously reported that the formal entry into force of the RCEP will make Cambodia one of the most beneficiary countries, which will effectively promote Cambodia's foreign trade and attract foreign investment. The report points out that the principles of tariff reduction and simplification of rules of origin stipulated by RCEP will contribute to the improvement of the productivity of countries in the region, vigorously promote trade and investment within the RCEP region, and create a more stable trade and investment environment. The report also pointed out that due to the relatively high proportion of manufacturing industries such as Cambodia, Vietnam, Malaysia, and Thailand in their GDP, it is expected to achieve higher substantive income growth in the next 10 years. Huacheng Import and Export Data Observation reports.