Kingdom Exports to Japan Up 7.7%

Kingdom Exports to Japan Up 7.7%

Cambodia exported more than $1.7 billion worth of products to the Japanese market last year – up 7.7 percent from 2018 – data from the Japan External Trade Organisation (Jetro) shows.

The Kingdom imported more than $563 million worth of products from Japan, a 33.4 percent increase from 2018, the data shows.

Ministry of Commerce undersecretary of state Bun Chanthy said Cambodia mostly exported garments, footwear, and electric equipment.

Between 1995 and September, there were 141 Japanese investment projects with $2.5 billion in capital investment, data from the Council for the Development of Cambodia (CDC) shows.

Of these, 66 were in special economic zones with an estimated capital investment of $340 million.

Most of the projects were in the energy, electronic component assembly, auto spare parts, agro-industry, food processing, hospitality, health and retail sectors, the data shows.

Cambodia Chamber of Commerce vice-president Lim Heng said good relations between the countries have brought more Japanese investors to the Kingdom, especially to special economic zones in Phnom Penh and Koh Kong province.

“The growth in trade between Cambodia and Japan is strong,” he said, noting that trade volume will likely further increase this year.

Cambodia’s total exports during the first half of last year jumped to $6.8 billion, with Japan ranking fourth with a market share of 7.7 percent, said the National Bank of Cambodia’s first-half report.

Imports reached $10.5 billion, with Japan taking the number four spot with a 4.5 percent market share, the report said.