Cambodia’s exports to Japan increased by about 16 percent in the first quarter of the year compared to the same period in 2018, according to the latest report from the Japan External Trade Organisation (Jetro).
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Trade between the two countries reached $558 million from January to March, a 16.5 percent hike compared to the same quarter last year.
Cambodia shipped $454 million worth of goods to the Japanese market, a 16 percent increase, while Japan’s exports rose by 20 percent to $104 million.
Ministry of Commerce spokesman Long Kem Vichet said the thriving trade between the countries is the result of good diplomatic relations as well as efforts by the Cambodian government to diversify its export markets.
“Cambodia and Japan enjoy a good relation. Moreover, Cambodian products are gaining recognition abroad,” he said. “These trade figures reveal the growing importance of Asian markets, the country’s integration in the region, and government efforts to diversify exports.”
“Diversifying and strengthening competitiveness are top priorities for the government.
“Japanese are investing in priority areas, particularly light manufacturing and industries that required skilled labour. We hope to see these trends continue into the future,” he added.
Most Cambodian exports were garments, footwear products and, to a lesser degree, electronic components such as mobile phone batteries. Japan mostly exported machinery, cars and electronics to the Kingdom, as well as beef, steel and pharmaceuticals, according to the Cambodian Ministry of Commerce.
Last year, trade with Japan increased by 27.3 percent, according to Jetro. More than $1.6 billion worth of goods were sent to Japan, a 17.8 increase, while Cambodia bought about $421 million in Japanese goods.