Friday, March 24, 2023
Khmer Daily Cambodia News
34 °c
Phnom Penh
  • LATEST
  • CAMBODIA
  • ASIA
    • JAPAN
    • SOUTH KOREA
    • TAIWAN
  • WORLD
    • CHINA
    • RUSSIA
  • BUSINESS CAMBODIA
  • TECHNOLOGY
No Result
View All Result
  • LATEST
  • CAMBODIA
  • ASIA
    • JAPAN
    • SOUTH KOREA
    • TAIWAN
  • WORLD
    • CHINA
    • RUSSIA
  • BUSINESS CAMBODIA
  • TECHNOLOGY
No Result
View All Result
The Khmer Daily
No Result
View All Result
Home ASIA Cambodia

Cambodian exports show resilience

November 13, 2020
in Business, Cambodia, National
0
Cambodian exports show resilience
0
SHARES
12
VIEWS
Share on FacebookShare on Twitter

Cambodian exports reached approximately $11.714 billion, up around 18 percent, a figure only marginally lower than the same period last year (18.4 percent) according to socio-economic trend statistics compiled by the Ministry of Economy and Finance.

The report stated that total exports of Cambodian products remain positive for 2020’s first eight months even though the global economy is expected to see negative growth with some of Cambodia’s trading partners still facing the spread of COVID-19.

Individual export products showing increases include milled rice, up 23.1 percent, bikes up 27 percent, and electrical appliances, with an increase of 22.3 percent.  Among agricultural product exports showing increases were beans with a 59.3 percent uptick, cashew nuts with a rise of 16.3 percent and bananas, up 156.7 percent.

In the non-agricultural category, gold exports experienced an astounding 716.8 percent increase for a total of $2.22 billion during the first eight months of 2020.

If the gold exports figures were not included in the aggregate, total Cambodian export growth actually dropped by about 4.9 percent from the same period last year.

The report also added that Cambodia’s total imports were $11.853 billion, which fell about 11.6 percent in the first eight months of the year.

Pen Sovicheat, undersecretary of state at the Ministry of Commerce, noted that the export of gold is beyond its jurisdiction because exporters do not apply for certificates of origin from the Ministry of Commerce, with exports of gold and precious stones under the aegis of the National Bank of Cambodia.

“It could be that the re-export of gold accounts for some of the massive increase in gold exports.  Some Cambodian companies purchase gold from non-Cambodian sources then export it to other countries,” he added.

So far, the government has granted licences to two gold mining companies in
the northeastern part of Cambodia. However, those companies have yet to begin any mining operations, either extraction or refining.

They are the India-based Mesco Gold and Australian-listed Emerald Resources. Emerald Resources is developing the Okvau gold project in Mondulkiri province and plans to begin extracting gold in the second quarter of 2021.

This article was first published in Khmer Times. All contents and images are copyright to their respective owners and sources.

Tags: CambodiaCambodian exportsMondulkiri
Previous Post

Hundreds of baby pigs squashed to death in grisly Thailand road accident

Next Post

Typhoon Vamco triggers worst floods in Philippine capital in years

Related Posts

Nearly 10,000 national and international tourists flock to see Equinox at Angkor Wat Temple

Nearly 10,000 national and international tourists flock to see Equinox at Angkor Wat Temple

by Khmer Times
March 22, 2023
0
10

A total 8,726 national and international tourists this morning flocked to Angkor Wat Temple in Siem Reap provincial city to...

Cambodia’s 1st full flight simulator officially put into use under the Lanmei Aviation Group

Cambodia’s 1st full flight simulator officially put into use under the Lanmei Aviation Group

by Khmer Times
March 22, 2023
0
9

The International Aviation Flight Simulator Centre (IAFSC), which is the first full flight simulator in Cambodia, was officially put into...

Angkor Wat in Cambodia becomes favourite destination for Equinox tourism

Angkor Wat in Cambodia becomes favourite destination for Equinox tourism

by Khmer Times
March 21, 2023
0
4

A large number of international and domestic tourists visited the Angkor Wat Temple in Siem Reap province yesterday morning to...

Most Popular

Google suspends Chinese app Pinduoduo from Play store after malware is found

Google suspends Chinese app Pinduoduo from Play store after malware is found

March 22, 2023
31
Rebels in Indonesia’s Papua release New Zealand hostage video

Rebels in Indonesia’s Papua release New Zealand hostage video

March 12, 2023
20
Biden speaks with California governor about Silicon Valley Bank: White House

Biden speaks with California governor about Silicon Valley Bank: White House

March 12, 2023
19
Russia boosts defences near Japan, accuses US of expanding Asia-Pacific presence

Russia boosts defences near Japan, accuses US of expanding Asia-Pacific presence

March 24, 2023
19
World Athletics bans transgender women

World Athletics bans transgender women

March 24, 2023
18
Boris Johnson says he did not lie over Covid-19 lockdown parties

Boris Johnson says he did not lie over Covid-19 lockdown parties

March 24, 2023
18

© 2020 By Khmer Daily News

No Result
View All Result
  • Home
  • Latest
  • Cambodia
  • ASIA
  • World
  • Business
  • Tech

© 2019 The Khmer Daily.

error: Content is protected !!