By May Kunmakara
The Phnom Penh Post
CAMBODIA’S bilateral trade with Vietnam saw a further decline in October, dropping 39 percent year on year, according to official figures released Monday by the Vietnamese embassy in Phnom Penh.
Trade was down to US$103 million in October, down from $169 during the same month last year. The fall was greater than the aggregated year-to-date slide of 29.7 percent for the first 10 months, meaning a recovery in trade with one of the Kingdom’s most important economic partners has failed to materialise. Bilateral trade was down an annualised 22.8 percent in September.
“People [in the two countries] don’t earn well, meaning they have had to cut expenses,” Le Bien Cuong, Vietnam’s commercial counsellor in Phnom Penh, said Monday, also citing a drop in Cambodia’s imports of raw materials for the key construction and garment sectors.
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