Trade with VN drops 22pc

CAMBODIA's bilateral trade with Vietnam decreased an annualised 21.87 percent from US$951 million to $743 million in the first seven months of this year, official Vietnamese figures showed Wednesday, as the Kingdom maintained a large but shrinking trade deficit with its neighbour.

Le Bien Cuong, the commercial counsellor at the Vietnamese Embassy in Phnom Penh, told the Post that Vietnam's year-on-year exports to Cambodia had dropped 21.85 percent this year up to the end of July, from US$810 million to $633 million.

"Cambodia's exports to Vietnam also dramatically went down from $141 million to $110 million," he said, which represented a decline of 22 percent during the same period.

The figures showed that Cambodia's large trade deficit with Vietnam declined 21.82 percent during the first seven months from $669 million to $523 million as a result of the overall drop in trade. Click to read more...