South Korea ranked as the fourteenth largest trading partner for Cambodia last year, as per local media reports.
Cambodia’s goods export experienced a 20.4 per cent growth in 2022, while imports increased by 6 per cent to $545 million during the same period. Cambodia benefits from preferential tariff treatment on exports based on various agreements, including a Free Trade Agreement (FTA) between the two countries.
Cambodia’s apparel exports to South Korea increased by 14.37 per cent in 2022, reaching $191.374 million.
South Korea was Cambodia’s 14th largest trading partner, with total trade at $780 million.
Cambodia’s goods export grew by 20.4 per cent in 2022, and imports increased by 6 per cent to $545 million.
Cambodia benefits from the FTA with South Korea.
Cambodia’s outbound shipments to South Korea were valued at $167.151 million in 2021, $169.716 million in 2020, $187.650 million in 2019, and $173.889 million in 2018. Home textile exports from Cambodia to South Korea remained insignificant at $1.484 million in 2022, according to data obtained from Fibre2Fashion’s market insight tool TexPro.
South Korea held the thirteenth position among Cambodia’s largest apparel markets in 2022. The country accounted for 1.39 per cent of Cambodia’s total apparel exports of $13.791 billion in 2022.
Fibre2Fashion News Desk (KUL)
