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Cambodia’s trade imbalance up 19%

Cambodia’s total trade climbed 19 per cent year-on-year in the first quarter, according to the Ministry of Commerce, with a deficit driven by the Kingdom’s reliance on key imports. Photo by Pha Lina Employees work at a garment factory in Phnom Penh. Total trade for the first three months of 2012 reached US$3.2 billion, up from $2.7 billion a year ago.Imports, however, comprised $1.8 billion, or 56 per cent, of the total, as Cambodian markets continued to demand fuel, raw materials for the all-important garments sector and construction materials. Exports of finished garments, rubber and rice, among other products, accounted for the remaining $1.4 billion of trade, according to the ministry’s figures.Although the Kingdom’s business-friendly investment climate and growing economy accounted for the increase, Supreme National Economic Council adviser Mey Kalyan noted the potential problems inherent in the trade imbalance.“It is still a concern, so we have to be a bit careful,” he said of the larger import total. “If it continues, it won’t be a good thing for us.”Mey Kalyan pointed to the economic troubles in the United States and the European Union as one reason for the imbalance, in addition to Cambodia’s need to import materials crucial to its development.

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Cambodia’s total trade climbed 19 per cent year-on-year in the first quarter, according to the Ministry of Commerce, with a deficit driven by the Kingdom’s reliance on key imports. Photo by Pha Lina Employees work at a garment factory in Phnom Penh. Total trade for the first three months of 2012 reached US$3.2 billion, up from $2.7 billion a year ago.Imports, however, comprised $1.8 billion, or 56 per cent, of the total, as Cambodian markets continued to demand fuel, raw materials for the all-important garments sector and construction materials.

Exports of finished garments, rubber and rice, among other products, accounted for the remaining $1.4 billion of trade, according to the ministry’s figures.Although the Kingdom’s business-friendly investment climate and growing economy accounted for the increase, Supreme National Economic Council adviser Mey Kalyan noted the potential problems inherent in the trade imbalance.“It is still a concern, so we have to be a bit careful,” he said of the larger import total. “If it continues, it won’t be a good thing for us.”Mey Kalyan pointed to the economic troubles in the United States and the European Union as one reason for the imbalance, in addition to Cambodia’s need to import materials crucial to its development.

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Cambodia’s trade imbalance a concern

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Cambodia

CLMV’s economic growth crashes to two-decade low due to COVID-19

The COVID-19 crisis has caused the rate of economic growth in the CLMV bloc to be at its lowest in two decades, the CLMV economies could grow at 3.4 percent this year

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The COVID-19 pandemic is having a negative impact on CLMV economies through their dependency on foreign-sourced revenue from tourism and exports says KResearchCenter.

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Cambodia’s aid and investment affair with China

China is Cambodia’s biggest aid provider and Chinese investors hold almost a quarter of Cambodia’s total FDI stock. Distinguishing Chinese aid from investment is difficult, but there is no doubting China’s huge economic impact in Cambodia.

East Asia Forum

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The debate about China’s rapidly growing global investment and development financing footprint has focused on deciphering Chinese intentions — whether China aims to revise or maintain the US-led ‘liberal international order’.

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Thailand pushes CLMVT as the “New Value Chain Hub of Asia”

The Ministry of Commerce, in cooperation with 11 relevant agencies, hosted the CLMVT Forum 2019 with delegates from Cambodia, Laos, Myanmar, Vietnam, and Thailand

National News Bureau of Thailand

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BANGKOK, 24 June 2019 (NNT) – Thailand’s Prime Minister, Gen. Prayut Chan-o-cha, today attended the opening of the CLMVT Forum 2019, and urged its member countries to push for the development of the CLMVT Regional Value Chain, so that they can have more bargaining power and improve the well-being of their citizens.

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