Exports to Korea climb 100%

Cambodia's exports to South Korea rose by more than 100 per cent last year, according to officials at the Korea Trade-Investment Promotion Agency (KOTRA).

Agricultural and garment exports largely accounted for the surge.

KOTRA data shows total exports were worth US$87.3 million in 2011, compared with $43.4 million the previous year.

Total imports from Korea also rose 35.4 per cent to $450.7 million, compared with $333 million a year earlier.

KOTRA director-general Kwang Ho Lee said the largest increases had been in the vehicle and automotive-parts sector.

Lee said that close ties and strong efforts between the two nations over the past few years had boosted both diplomatic and economic relationships.

"Last year, both Cambodia and Korea experienced a strengthening in their relationship, which weas especially important because it led to big increases in Cambodia's exports," he said.

Lee said rising rubber, seafood, agricultural and garment exports last year had significant consequences for the economy.

Cambodia's main exports to Korea are natural rubber, cotton, seafood, aluminum waste and scrap, as well as garments including jerseys, pullovers and cardigans, according to official data.

Korea's most profitable exports to Cambodia are used clothing, internal combustion engines, cylinders and cigarettes.

Source: Phnom Penh Post