Cambodia’s trade balance with South Korea has improved in the first quarter of 2023

Cambodia’s trade balance with South Korea has improved in the first quarter of 2023, with decreased imports and higher apparel exports.

The apparel exports to South Korea grew by 14.37 per cent to $191.374 million in 2022.

Cambodia ranked 7th in South Korea’s top apparel suppliers, while South Korea ranked 13th in Cambodia’s top markets for apparel exports.

Cambodia has managed to achieve a better trade balance with South Korea during the first quarter of this year. The decrease in imports from South Korea and higher exports have brought some relief to Cambodia’s economy. Trade data reveals that Cambodia’s apparel exports to South Korea have contributed to the rise in total merchandise exports.

Following a healthy growth in apparel exports to South Korea last year, Cambodian shipments in the first two months of this year reached a level similar to that achieved in the fourth quarter of 2022.