Bilateral trade between the Kingdom and the US amounted to $5.8 billion in the first 10 months of this year, up $972.8 million or 15.9 per cent over the $5 billion registered in the same period last year, data from the US Census Bureau show.
This comes amid Covid-19’s continued assault on the world’s largest economy (in nominal terms) and the grim reality that one American per minute is dying in the US due to the coronavirus, according to figures from online portal Worldometer.
The export value of Cambodian goods during the period was $5.5 billion, up 21.34 per cent from $4.5 billion last year, and goods imported from the US were worth $269.7 million, down 39.5 per cent from $445.9 million.
Hong Vanak, director of International Economics at the Royal Academy of Cambodia, told The Post on December 8 that the uptick in trade clearly illustrates the magnitude of the US market and its importance as a destination for Cambodian products.
“The heightened exports can be regarded as an influx of international currency into the Cambodian national economic production chain,” Vanak said.
Cambodia Logistics Association (CLA) president Sin Chanthy said orders from the US are still omnipresent.
“The fact that the export of Cambodian goods grew more than 20 per cent is a source of pride,” Chanthy said, adding that the volume of goods passing through Sihanoukville Autonomous Port had purportedly not logged a year-on-year drop so far in 2020.
https://www.phnompenhpost.com/business/bilateral-trade-us-notches-159-new-orders-still-rolling