Vietnam-Cambodia import and export turnover was expected to reach 10 billion USD in 2022

Vietnam and Cambodia have continued to strengthen their economic relationship in recent years, with their import and export turnover expected to reach an impressive 10 billion USD in 2022. This is a significant increase from previous years and reflects the growing economic ties between the two countries. Vietnam has emerged as a major exporter of goods to Cambodia, particularly in the areas of electronics, textiles, and machinery. 

Meanwhile, Cambodia has become a valuable market for Vietnamese consumer goods, such as food and beverages. The strong performance of their trade relationship is a testament to the potential for increased cooperation and mutually beneficial economic growth between Vietnam and Cambodia.

Vietnam-Cambodia trade relationship recently 

The Vietnam-Cambodia trade relationship has been growing steadily in recent years, with the two countries strengthening their economic ties through increased trade and investment. The fact is, although it is only the end of October, Vietnam’s export turnover to Cambodia is larger than the result of the whole year of 2021 (last year reached 4.83 billion USD). In the opposite direction, Vietnam’s imports from Cambodia in the past 10 months reached 4.13 billion USD, up 4.8% over the same period last year. Therefore, with the current scale of turnover, it is likely that in 2022, the total bilateral trade turnover between Vietnam and Cambodia will reach 10 billion USD for the first time. This demonstrates the growing strength of their economic relationship and the potential for further growth in the future.

Vietnam has emerged as a major exporter to Cambodia, particularly in the areas of electronics, textiles, and machinery. The country has a thriving electronics industry, with many international companies outsourcing production to Vietnamese factories due to the country’s low labor costs and high-quality workforce. This has helped to drive Vietnam’s exports to Cambodia, which have grown rapidly in recent years.

Cambodia, on the other hand, has become a valuable market for Vietnamese consumer goods, such as food and beverages. The country’s growing middle class, combined with its proximity to Vietnam, has made it an attractive market for Vietnamese businesses. This has contributed to the growth of trade between the two countries, as Vietnamese firms look to tap into the potential of the Cambodian market.

In addition to increased trade, the two countries have also been working to improve the flow of goods and services between their borders. This includes the development of new transportation infrastructure and the simplification of customs procedures. These efforts have helped to make it easier for businesses to trade between Vietnam and Cambodia, further boosting the growth of their trade relationship.

In conclusion, the Vietnam-Cambodia trade relationship has been growing rapidly in recent years, which is expected to reached 10 billion USD turnovers in 2022. The two countries have been working to improve the flow of goods and services between their borders, and this, combined with growing consumer demand in Cambodia, has contributed to the growth of their trade relationship. The future looks bright for this economic partnership, and it is expected that their trade relationship will continue to grow in the coming years.

Vietnam’s weaknesses when export goods to Cambodia 

Vietnam is one of the fastest growing economies in Southeast Asia, with a thriving export market. However, when it comes to exporting to Cambodia, there are some weaknesses that need to be addressed.

One of the major weaknesses is the lack of infrastructure in Cambodia. This can lead to difficulties in transporting goods and can increase the cost of exports. Additionally, Cambodia is still a developing country, and its economy is not as strong as other countries in the region, which can lead to limited demand for Vietnamese exports.

Another weakness is the language barrier between the two countries. While both countries speak similar languages, the way the languages are written and pronounced can be different, making it difficult for Vietnamese businesses to effectively communicate with their Cambodian counterparts.

Moreover, the Vietnamese export market is heavily reliant on China, which can also limit their exports to Cambodia. This is because Cambodia is more likely to purchase products from China, which can result in more competition for Vietnamese businesses in the Cambodian market.

Finally, there are also cultural differences between Vietnam and Cambodia, which can make it challenging for Vietnamese businesses to understand and meet the needs of Cambodian consumers. These cultural differences can also lead to misunderstandings and difficulties in building strong business relationships with Cambodian companies. 

Even though the weaknesses sound bad, we could not deny that the Vietnam-Cambodia export market recently had amazing growth. However, we should make these weaknesses lessons for a better future for the trade activity between the 2 countries. 

Vietnam-Cambodia export expectations for future activities

Vietnam and Cambodia have been close neighbors and economic partners for many years, and the future outlook for their export relationship is positive. Both countries are looking to deepen their economic ties and increase their exports to each other.

One of the main expectations for the future of Vietnam-Cambodia exports is the growth of e-commerce. With the increasing popularity of online shopping and the growth of technology, the two countries are looking to leverage this trend to increase their exports of goods and services to each other. The use of e-commerce platforms can help bridge the gap between the two countries, making it easier for businesses to reach customers in each other’s countries.

Another expectation is the growth of small and medium-sized enterprises (SMEs) in both countries. SMEs form the backbone of the economies of both Vietnam and Cambodia and are expected to play an important role in the future of the two countries’ export relationship. By helping SMEs to access new markets and providing them with the support they need to grow, the two countries can help to drive the expansion of their export relationship.

Moreover, the expansion of infrastructure, such as roads, ports, and airports, is expected to play a key role in the future of the Vietnam-Cambodia export relationship. By improving the connectivity between the two countries, businesses will be able to transport their goods more efficiently, reducing costs and increasing competitiveness.

Finally, the two countries are also looking to deepen their trade and investment relationship. The Vietnamese and Cambodian governments are working to create a more favorable business environment, reducing barriers to trade and investment, and promoting closer economic ties between the two countries.

In conclusion, the future outlook for the Vietnam-Cambodia export relationship is positive, with expectations of growth in e-commerce, the expansion of SMEs, the improvement of infrastructure, and deeper trade and investment ties between the two countries.