Cambodia's foreign trade recovered in the first quarter of 2022, with rapid growth in imports and exports.

A report released by Cambodia's General Department of Customs and Excise on April 27 stated that trade in the first quarter of 2022 reached US$13 billion, up 9% year on year. Garment exports totaled US$3.155 billion, an increase of 24.8%.

The department reported customs revenue of US$597 million for the first quarter. Taxes on vehicle imports remained the largest source, contributing US$249 million, or 42% of total customs revenue.

Although customs revenue declined in the first quarter of 2022, national tax revenue continued to grow. The General Department of Taxation collected more than US$1.2 billion, up 19% from US$1.023 billion in the same period a year earlier.

The Cambodian government said that increased domestic tax receipts had also substantially increased treasury funds. Because of the pandemic's effects, fiscal restraint would continue in 2022, and relevant departments were required to reduce unnecessary spending.