Two-way trade between Vietnam and Cambodia reached $4.77 billion in the first nine months of 2023, a year-on-year increase of 3 per cent, the Voice of Vietnam (VOV) has reported.

VOV cited figures from Cambodia’s Ministry of Economy and Finance that reveal $2 billion worth of exports to Vietnam in the period, up 30.7 per cent, while its imports from its neighbor stood at $2.736 billion, down 11 per cent.

Cambodian exports to Vietnam exceeded $185.2 million in September, a 104.5 per cent rise year-on-year, while its imports from Vietnam were $286 million, a 4.3 per cent decline year-on-year.

Vietnam is now third among all of Cambodia’s trading partners, after China and the US, and remains its second-largest export market.

“Vietnam’s exports to Cambodia are quite diverse, including key items such as iron and steel, fertilizer, petroleum, and machinery and equipment,” said Vietnam’s trade representative in Cambodia Phan Van Truong. “Vietnam’s exports to Cambodia are more stable due to links between various industries, units, and businesses.”

He added that based on natural geography, the fine relations between Party, governments, and relevant bodies, as well as priority policies from both sides, bilateral cooperation between businesses will increasingly develop.