Cambodia’s international trade posted robust growth in the first quarter of 2025, defying escalating global trade tensions and sluggish growth in major partner economies. Total trade volume reached $14.45 billion—a 15.6% increase from the same period last year. Exports rose by 9.8% to $6.87 billion, while imports surged by 21.5% to $7.57 billion. The U.S. remained Cambodia’s top export destination, followed by Vietnam and China. Key export items included garments, footwear, machinery, agricultural products, and electronics. The Cambodian Rice Federation reported a total of 211,058 tonnes of milled rice exported in Q1, with China emerging as a dominant buyer. Officials attributed export growth to high global demand for Cambodian-made goods, a favorable investment climate, and geopolitical shifts that have redirected regional manufacturing activity toward Cambodia.
Despite recording a trade deficit of nearly $698 million in Q1, Cambodia is poised for continued economic momentum. The Asian Development Bank maintained its growth forecast at 6.1% for 2025 and 6.2% for 2026, buoyed by solid performance in exports and tourism. However, risks remain. The U.S. government recently announced potential tariffs of up to 49% on Cambodian imports, though implementation has been delayed by 90 days to allow for negotiations. The Cambodian government quickly formed a working group led by CDC’s Sun Chanthol to respond. Business leaders remain cautiously optimistic, citing investor confidence, new trade agreements, and the relative political stability in Cambodia as continued strengths, even in the face of global economic uncertainties.
