The Cambodian economy is firing on all cylinders in early 2026. According to official data released by the General Department of Customs and Excise (GDCE) on March 10, the Kingdom’s total international trade volume hit a staggering US$11.11 billion in the first two months of the year. This represents a robust 17.6% increase compared to the US$9.44 billion recorded during the same period in 2025, signaling a high-growth trajectory for Southeast Asia’s emerging tiger economy.
Key Highlights: January – February 2026
- Total Trade Volume: US$11.11 Billion (Up 17.6%).
- Export Growth: Outbound shipments reached US$5.22 billion, a 17.2% year-on-year increase.
- Import Dynamics: Imports surged to US$5.88 billion, up 18%, driven by raw materials for manufacturing and consumer demand.
- The US Market Explosion: Trade with the United States saw a phenomenal 39.9% increase, cementing its role as the primary destination for Cambodian-made goods.
- China Synergy: China remains the #1 overall trading partner, with bilateral trade valued at US$3.57 billion.
The “Big Two”: Understanding the US and China Dynamics
While Cambodia maintains diverse trade relationships, the 2026 data highlights a fascinating dual-engine growth model driven by its two largest partners.
1. The United States: The Export Powerhouse
For investors and stakeholders in the West, the most striking figure is the 39.9% jump in bilateral trade with the US. Official reports from AKP indicate that Cambodia exported a massive US$2.26 billion to the US market in just sixty days, while importing only US$80.34 million.
This massive trade surplus highlights Cambodia’s strengthening position as a preferred sourcing hub for garments, travel goods, and footwear for American consumers, increasingly displacing higher-cost competitors in the region.
2. China: The Supply Chain Backbone
China remains the largest total trading partner at US3.57billion. However,the nature of this trade is different.The state news agency (AKP) highlighted that Cambodia imported US3.28 billion worth of goods from China—primarily raw materials, machinery, and electronic components.
Analogy: If the US market is the “Global Showroom” where Cambodian products are sold, China is the “Engine Room” providing the fuel and parts that make production possible.
Sector Performance: What is Driving the 17.2% Export Rise?
The growth in exports to US$5.22 billion is not just a fluke of timing; it reflects a maturing industrial base. Based on data released by AKP, the following sectors have shown significant resilience:
- Non-Garment Manufacturing: Solar panels, electrical components, and vehicle parts are making up a larger share of the export pie.
- Agricultural High-Value Goods: Milled rice (boosted by new China agreements) and cashews are seeing record-breaking demand.
- Apparel and Travel Goods: These remain the bedrock of the economy, benefiting from shifted global supply chains.
Executive Summary: Trade Performance Table
| Indicator | Jan-Feb 2025 | Jan-Feb 2026 | Change (%) |
| Total Trade | US$9.44 Billion | US$11.11 Billion | +17.6% |
| Total Exports | US$4.46 Billion | US$5.22 Billion | +17.2% |
| Total Imports | US$4.98 Billion | US$5.88 Billion | +18.0% |
| Trade with China | (Cumulative) | US$3.57 Billion | Strong Growth |
| Trade with USA | (Cumulative) | US$2.34 Billion | +39.9% |
FAQ: High-Level Investor Queries
The 39.9% surge is largely attributed to the renewal of trade preferences and the relocation of manufacturing plants from other ASEAN nations to Cambodia, seeking competitive labor and favorable investment laws.
Not necessarily. Official reports from AKP indicate that the government views these imports as “productive capital.” Most imports from China are machinery and raw materials that are eventually re-exported to the US and Europe as finished goods.
Current indicators suggest a strong “Yes.” With the full implementation of the RCEP and several bilateral FTAs, Cambodia is well-positioned to maintain a double-digit trade growth rate throughout the fiscal year.