A cargo ship docks at Sihanoukville Autonomous Port (PAS), a key hub for Cambodia's international trade and exports. PAS
Cambodia’s exports to Canada reached over $1 billion in the first 11 months of 2024, marking a 30% increase compared to the same period in 2023, according to the General Department of Customs and Excise (GDCE). Canada has emerged as the country’s sixth-largest trading partner, following China, the US, Vietnam, Thailand and Japan.
From January to November, total trade between the two countries amounted to $1.063 billion, reflecting a 27.3% increase year-on-year. Exports to Canada were valued at $1.011 billion, a rise of 30.7%, while imports from Canada totalled $52.07 million, a decline of 15.2%. Cambodian exports accounted for 95.1% of the total trade volume between the two nations.
Bilateral trade with Canada represented approximately 2.13% of the country’s total international trade for the first 11 months of 2024, which amounted to $49.875 billion.
Economist Hong Vanak from the Royal Academy of Cambodia told The Post on December 31 that Canada is a crucial trading partner as it is a member of the Group of Seven (G7) nations with advanced economies.
“Cambodia must strive to enhance the quality of its exports to appeal to a broader range of buyers. If Cambodia could produce new products beyond what is currently available, it would be a significant improvement,” he said.
Vanak noted that the government is working to diversify and expand its range of export products to increase the country’s presence in global markets. Efforts to enhance infrastructure are also underway to lower costs and boost the competitiveness of Cambodian goods internationally.
“Canada will continue to be an important trade partner for Cambodia in the long term, as relations between the two governments have recently improved significantly,” Vanak added.
During the ASEAN Summit in Vientiane, Laos on October 10, Canadian Prime Minister Justin Trudeau informed Prime Minister Hun Manet that Canada plans to open an embassy soon to strengthen diplomatic ties further.
Lim Heng, vice-president of the Cambodia Chamber of Commerce (CCC), stated that despite Canada's distance from Cambodia, it continues to buy significant amounts of Cambodian goods.
He noted that Cambodian products in high demand there include apparel, travel bags, footwear and bicycles. He further mentioned that trade between the two nations is expected to continue growing as global economic conditions improve, leading to increased consumer spending and more travel worldwide.
“Canada is a major customer for Cambodian products such as apparel, footwear and travel bags. As the global economy improves and tourism becomes more active, the demand for these products is sure to rise. Currently, Cambodia's private sector also has a representative office in Canada to promote business cooperation,” he said.
The CCC opened its representative office in Toronto, Canada to promote Cambodian products to Canadian customers and attract Canadian financiers to invest directly in Cambodia.
In 2023, total bilateral trade between the two countries amounted to $940.48 million, a decrease of 18.5% from $1.15 billion in 2022. Exports to Canada in 2023 totalled $869.54 million, a decrease of 22.4%, while imports from Canada amounted to $70.95 million, an increase of over 100%.
