Commerce between Cambodia and the USA reaches 614 million US {dollars}; 24 new Covid-19 instances

PHNOM PENH, March 8 (Phnom Penh Put up / ANN): Bilateral commerce between Cambodia and the USA amounted to $ 614.5 million within the first month of this yr, up 4.89 p.c from in comparison with the $ 585.8 million launched in January 2020, in keeping with information from the US Census Bureau Present.

The Kingdom exported $ 580.6 million in items throughout the interval, up 3.69% year-over-year from $ 559.9 million, and imported 33.9 million, up 30.88% year-over-year from $ 25.9 million.

On March 7, Cambodia Chamber of Commerce Vice President Lim Heng instructed the Put up that ongoing Covid-19 vaccination campaigns within the Kingdom and the USA will lead to an annual improve in bilateral commerce. for 2021, highlighting that the USA is the principle vacation spot for Cambodia’s exports.

Though the USA didn’t re-authorize its Common System of Preferences (GSP) commerce advantages program after it expired on December 31, Heng famous that the variety of worldwide corporations requesting the opening of factories within the Kingdom had proven no indicators of slowing down.

“The US is a significant marketplace for Cambodia, so with the restoration of the American financial system, the demand for imports of every kind of shopper items will improve in parallel,” he mentioned. “When the US authorities subsequently renews the SPG [privileges] in Cambodia, there might be extra corporations with an American market that may come to spend money on Cambodia. “

Heng is optimistic that dozens of latest Cambodian merchandise will debut within the US market this yr, along with current choices with excessive gross sales potential akin to clothes, sneakers, baggage and electronics.

On the identical time, he cautioned that delivery prices have risen sharply in current months and will doubtlessly act as obstacles to Cambodia’s worldwide commerce.

Hong Vanak, director of worldwide economics on the Royal Academy of Cambodia, identified that Cambodian-US commerce figures have been a brilliant spot in a world commerce panorama noticed with Covid-19 spots.

“I consider that with this first-rate begin, the entire commerce steadiness of the 2 nations will improve considerably in 2021,” he mentioned, including that textiles stay a precedence for Cambodian exports to the USA.

Commerce between Cambodia and the USA was $ 6.9213 billion final yr, up 17.89% from 2019, in keeping with information from the US Census Bureau.

Cambodian exports to the USA amounted to $ 6.5777 billion, up 22.79% from the $ 5.3568 billion posted in 2019, whereas imports reached $ 343.6 million. {dollars}, down 33.15% from $ 514 million.

In the meantime, Cambodia confirmed 24 different native instances of Covid-19 on Monday, bringing the entire variety of contaminated folks linked to the third neighborhood transmission to 501, in keeping with an announcement from the Ministry of Well being (MoH).

The brand new instances have been found within the municipality of Phnom Penh, within the provinces of Preah Sihanouk, Kandal, Kampong Cham and Kampong Thom, mentioned Secretary of State and spokesperson for the Ministry of Well being, Or Vandine, within the communicated.

“They have been all concerned within the third neighborhood outbreak of Covid-19 on February 20,” she mentioned.

At the moment, sufferers are present process remedy at numerous designated Covid-19 hospitals, she added.

In an effort to comprise the epidemic, faculties, gymnasiums and leisure venues in addition to dozens of companies have been quickly closed. – The Phnom Penh Put up / ANN

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