Vietnam posts 8M trade deficit with Cambodia

Cambodian exports to Vietnam reached $3.5 billion in the first eight months of 2021, up 423 per cent over the same period of 2020 and resulting in Vietnam posting a trade deficit with its neighbor of $355 million.

According to statistics of the General Department of Vietnam Customs, in the first eight months of 2021, the import and export turnover of goods between Vietnam and Cambodia reached US$6.653 billion, up 97.2% over the same period in 2020. Expected 2021 , import-export turnover between the two countries reached nearly 9 billion USD.

In which, Vietnam's exports to Cambodia reached 3,149 billion USD, up 16.5% and Cambodia's goods exported to Vietnam reached 3,504 billion USD, up 423% over the same period in 2020. Thus, in the first 8 months of 2021, Vietnam had a trade deficit of 355 million USD from Cambodia, mainly 2 agricultural products such as cashew nut with 1.829 billion USD, rubber 823 million USD for processing and manufacturing raw materials for export. export. Regarding the group of goods exported to Cambodia, in the first 8 months of 2021, there were 21/29 groups of products with positive growth compared to the first 8 months of 2020.

Typically, vegetables and fruits reached 13.79 million USD, up 186.17%; animal feed and raw materials reached $102.42 million, up 29.45%; petrol and oil of all kinds reached USD 253.79 million, up 51.37%; chemicals reached USD 28.02 million, up 57.84%; fertilizers of all kinds reached USD 133.83 million, up 65.95%; plastic raw materials reached 18.11 million USD, up 45.98%; wood and wood products reached 14.52 million USD, up 42.93%; fibers of all kinds reached USD 51.11 million, up 137.24%... However, there are also 8/29 items with negative growth compared to the first 8 months of 2020, such as: seafood, coffee, confectionery and grain products, clinker and cement, ceramic products, common metals and metal products, furniture products… In the first 8 months of 2021, there were 10/11 groups of imported Vietnamese goods with positive growth compared to the same period in 2020.

Specifically, vegetables, tubers and fruits reached 30.49 million USD, up 59.16%; cashew nuts reached 1,833 million USD, up 610.16%; corn reached USD 79,440 new export items of Cambodia; soybeans reached 1.83 million USD, up 548.99%; rubber reached 822.80 million USD, up 433.87%... In 2020, import and export turnover between Vietnam and Cambodia reached US$ 5,327 billion, up 0.84% compared to 2019. In which, Vietnam's goods exported to Cambodia reached US$ 4.149 billion, down 5.3% and Cambodian goods exported to Vietnam reached 1.178 billion USD, up 30.9% compared to 2019.

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