Exports to India up over 57% in ‘23
CAMBODIA garnered over $233 million in the first ten months of 2023 from exports to India, marking an increase of nearly 60% compared to the corresponding period in 2022. Bilateral trade volume between the two countries exceeded $400 million, as reported by the General Department of Customs and Excise of Cambodia (GDCE).
Statistics from GDCE show that between January and October 2023, the country’s exports to India totalled $233.39 million, a 57.7% increase from $147.99 million in the same period in 2022.
Indian exports to Cambodia amounted to $167.52 million, a decrease of 20.2% from $210.01 million.
Total bilateral trade volume reached $400.92 million, a 12% increase from $358 million, marking India as Cambodia’s 18th largest trading partner.
The country’s trade surplus grew by $65.87 million during the period.
In October 2023, trade between the two countries reached $52.95 million, a 52.89% increase. Cambodian exports to India were valued at $42.48 million, up 199.7%, while imports from India stood at $10.47 million, a decrease of 48.8%.
Lim Heng, vice-president of the Cambodia Chamber of Commerce (CCC), noted on November 21 the steady rise in Cambodia’s exports to India over recent years, predominantly agricultural products. He highlighted the potential benefits of diversifying exports to meet India’s demands, given its status as the world’s most populous country.
He also mentioned that establishing direct flights between the two countries could boost both trade and tourism.
“As India is … the most populous nation, Cambodia needs to diversify its exports to gain more market share there,” he emphasised, advocating for Indian investment in Cambodia.
The country’s exports to India mainly include agricultural products and textiles, while India exports medical supplies, buffalo meat, auto-rickshaws, thread, fabric, leather, food, oil, chemicals and medicines, among other items.
Vongsey Vissoth, Minister in charge of the Council of Ministers, highlighted the long-standing friendship and cooperation between the two countries In a November 16 meeting with Indian ambassador Devyani Khobragade at the Council of Ministers.
He stressed the importance of direct flight connections to enhance diplomatic and trade relations, noting the potential
to attract Indian tourists to Cambodia.
The meeting also included discussions on investment, trade and cooperation between the private sectors of both countries.
In 2022, Cambodia-India
trade turnover reached $440 million, a 41.37% increase from $311.24 million in 2021. Cambodia exported goods worth $196.63 million to India, up 56% and India exported $243.37 million worth of goods, a 31.4% increase, as per the GDCE.