Cambodia reports $1.14 billion trade deficit in 1st 5 months

[General Mackevili]

Cambodia recorded a trade deficit of 1.14 billion U.S. dollars in the first five months of 2014, a latest report by the Ministry of Commerce showed Wednesday.

Total trade value jumped to 7.32 billion U.S. dollars during the January-May period this year, an increase of 17 percent from 6. 24 billion U.S. dollars for the same period last year, the report said.

Of the amount, exports accounted for 3.09 billion U.S. dollars, rising by 20 percent on year, while imports surged by 15 percent to 4.23 billion U.S. dollars, leading to a trade deficit of 1.14 billion U.S. dollars.

Cambodia's main trading partners include the United States, European countries, China, South Korea, Japan, Thailand, Vietnam, Singapore and Malaysia.

Apparel products accounted for over 80 percent of the country's total exports.

Ken Ratha, the spokesman for the Ministry of Commerce, said the increase in trade value was thanks to Cambodia's better economic performance and good relations between Cambodia and its trading partners.

"The ministry has been working actively to attract more investors to Cambodia and to seek new overseas markets for Cambodian products in the hope of narrowing trade deficit in the future," he said.

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[OrangeDragon]

Zero surprise.

Though I have to wonder if the special economic zone businesses are included in that, as they're technically "outside" the country from a customs perspective.

I had a look at the SEZ here a few months back, some pretty interesting factories in there doing things other than just clothes. one that caught my attention was a pharmaceutical manufacturer. a fair bit of know-how involved in working in one of those...

[taranis]

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[nightmare.believer]

You're missing the point. Will there be a commensurate rise in GDP in 3Q14 and onwards? If so, the rise in trade deficit would be a net positive.

[starkmonster]

Did any of you actually read the article or just the headline?

Imports up 15%, exports up 20%. That means a shrinking trade deficit and huge growth.

A trade deficit, like inflation is not necessarily a bad thing and is almost expected in a country experiencing massive expansion in construction and infrastructure.

[starkmonster]

Oops, missed nightmare.believers post.