General

According to customs data, Cambodia's trade volume with other members of the Regional Comprehensive Economic Partnership Agreement (RCEP) reached 31 billion US dollars in 2022, up 4% year on year.

According to the report, Cambodia's exports to other members of RCEP in 2022 were 6.34 billion US dollars, up 7% year on year; Imports from other members of the RCEP reached US $24.68 billion, up 3% year on year. China is still Cambodia's largest trading partner. According to customs data, the trade volume between Cambodia and China in 2022 will be 14.5 billion US dollars.

According to customs data, Cambodia's total foreign trade in 2022 was 52.4 billion US dollars, up 9% year on year. Cambodia's exports totaled US $22.482 billion, up 16% year on year; The total import volume was 29.941 billion US dollars, up 4.3% year on year. Customs data show that the trade volume between Cambodia and RCEP members accounts for nearly 60% of its total trade volume.

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

The previous report of the World Bank pointed out 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 tariff reduction and simplification principles of rules of origin stipulated by RCEP will promote the productivity of countries in the region, vigorously promote trade and investment in 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 in Cambodia, Vietnam, Malaysia and Thailand in their GDP, it is expected to achieve higher substantial income growth in the next 10 years.