International trade rises by nearly 20% YoY in first half of the year

/ August 11, 2025


News Highlights

Economy and Industry

International trade rises by nearly 20% YoY in first half of the year Cambodia's international trade volume increased by nearly 20% YoY in the first seven months of 2025, reaching over $36 billion, with exports reaching $17.1 billion. Key trading partners included China, the US, Vietnam, Thailand, and Japan. Ly Kunthai, president of the Cambodia Investors Federation and the Cambodian Footwear Association, predicts continued growth in international trade volume as more Cambodian-made products are exported. The US is expected to become a more significant trading partner, following President Trump's decision to lower tariffs on Cambodian goods. The country's major exports include garments, footwear, travel bags, electronic components, and agricultural products, while major imports include vehicles, machinery, construction materials, pharmaceuticals, and electronic equipment. In 2024, Cambodia's total trade volume with all partner countries reached $54.74 billion, an increase of 16.9% compared to 2023. (Source: The Phnom Penh Post)

Vietnam increases investment activities in northeastern Cambodia Vietnamese firms are planning to increase investments in Northeastern Cambodia, according to Vietnamese Ambassador to Cambodia Nguyen Minh Vu. The delegation, including representatives from the Vietnam Rubber Group, THACO AGRI, and the Vietnam-Cambodia Business Association, visited the provinces to deepen economic ties and support Vietnamese businesses. Vu thanked local authorities for facilitating Vietnamese investment, particularly in the rubber sector, and urged continued support for business expansion. He also called for expedited legal documentation for Vietnamese origin individuals. Governors of Mondulkiri and Ratanakiri praised Vietnamese firms for fulfilling tax obligations and contributing to local social welfare. Vu also met with KVA leaders and Vietnamese community representatives, addressing administrative challenges and encouraging stronger cooperation. The Vietnamese delegation held a working session with their leaders at the Le Thanh International Border Gate in Gia Lai province. (Source: Khmer Times)

Pursat launches 10-MW solar power project including battery storage A 10-megawatt solar power plant with an integrated battery storage system, developed by SchneiTec ZEALOUS, was officially inaugurated in Pursat province, Cambodia, marking a significant milestone in the country's transition towards clean and sustainable energy. The plant will support Pursat's rising electricity consumption and help advance Cambodia's carbon neutrality goals. The project, funded by Chugoku Electric Power Company in collaboration with SchneiTec ZEALOUS, will contribute to emission reductions in both countries under the Japan-Cambodia Joint Crediting Mechanism (JCM). The government is accelerating its transition to clean energy, with solar farms expected to double their electricity contribution to the national grid this year. The government is aiming to increase renewable generation capacity to 70% by 2030, placing Cambodia second among ASEAN nations for the highest proportion of clean energy. The expansion of solar power aligns with national policy to achieve carbon neutrality by 2050. The country's primary renewable sources include hydropower, solar energy, and biomass, supplemented by electricity imports from neighboring countries. (Source: Khmer Times)

Corporate News

Canadia Bank receives 2025 award for Best Management in Cambodia Canadia Bank, a leading commercial bank in Cambodia, has been named the "Best Managed Bank in Cambodia" for 2025 by The Asian Banker (TAB). The bank's recognition is based on its strong performance in financial resilience, business diversification, digital innovation, and contributing to Cambodia's economic development. Canadia Bank has strengthened its business segments, including Corporate Banking, SME and Consumer Banking, and digital transformation. The bank has launched supply chain financing, flexible credit schemes, and a Green Financing Program, and expanded transactional banking services. The bank also focuses on empowering SMEs through customised financing and digital innovations. The bank has also invested in digital transformation, building a robust digital ecosystem that enhances customer experience, operational efficiency, and financial inclusion. The bank also supports community impact through its CSR platform, Canadia Bank Cares. Raymond Sia, CEO and Executive Board Director, expressed his gratitude for the recognition and expressed his commitment to inclusive growth and sustainable impact. (Source: Khmer Times)

Stock Market

CSX inches up 0.02% on mixed main board performance On 11 August 2025, the CSX Index rose by 0.02%, closing at 404.9 points. On the Main Board, GTI (+2.07%), MJQE (+0.51%), PPSP (+0.48%), and PWSA (+0.32%) posted gains, while PEPC (-0.38%) and ABC (-0.29%) recorded losses. PPAP, PAS, and CGSM remained unchanged. On the Growth Board, DBDE was unchanged, while JSL declined by 0.36%. Total trading volume reached 84,266 shares, with a turnover of KHR 423 million. (Source: YSC Research)

CSX Stocks


CSX Index

Value 1D % Chg 1D Vol Mkt Cap (KHR'bn)
404.9 0.02 84,266 10,860

Stock Performance

Stock Close (KHR) 1D chg (%) MTD chg (%) YTD chg (%) 1M high (KHR) 1M low (KHR) MTD vol (shr) Mkt cap (KHR'bn)
PWSA 6,200 0.32 0.32 -2.52 6,200 6,160 47,793 539
GTI 6,900 2.07 4.55 35.83 6,900 6,000 28,859 276
PPAP 13,520 0.00 0.00 -2.31 13,840 13,320 1,685 280
PPSP 2,100 0.48 -0.94 -3.23 2,130 2,090 238,270 151
PAS 12,020 0.00 -0.66 3.98 12,160 11,960 4,203 1,031
ABC 6,840 -0.29 -0.87 -9.28 6,920 6,840 101,264 2,963
PEPC 2,600 -0.38 -3.70 8.79 2,710 2,570 641 195
MJQE 1,990 0.51 0.00 -4.33 2,000 1,980 62,651 645
CGSM 2,440 0.00 0.00 0.41 2,440 2,430 13,557 4,781
DBDE 2,010 0.00 0.00 -2.43 2,030 2,000 15,028 37
JSL 2,780 -0.36 0.00 -18.71 2,810 2,690 1,450 71
1D = 1 Day; 1M= 1 Month; MTD = Month-To-Date; YTD = Year-To-Date; Chg = Change; Vol = Volume; shr = share; Mkt cap = Market capitalization


Valuation Ratios

  EPS BPS* P/E P/B P/S EV/EBITDA
  ttm,mrq (ttm,KHR) KHR (ttm,x) (mrq,x) (ttm,x) (ttm,x)
PPWSA 1Q25 665 11,199 9.33 0.55 1.67 15.45
GTI 1Q25 55 7,057 124.89 0.98 0.83 42.28
PPAP 1Q25 2,951 22,115 4.58 0.61 1.57 3.95
PPSP 1Q25 468 3,866 4.49 0.54 1.51 4.37
PAS 1Q25 1,212 8,224 9.92 1.46 8.71 7.63
ABC 1Q25 544 13,790 12.57 0.50 4.33 NA
PEPC* 1Q25 -88 -17 NA -151.05 12.90 NA
MJQE 4Q24 37 307 53.61 6.49 3.93 11.96
CGSM 1Q25 26 606 92.74 4.02 6.92 16.66
JSL 1Q25 -8 685 NA 4.06 7.48 28.60
DBDE 1Q25 -12 1,840 NA 1.09 0.40 74.07
NOTE: ttm= trailing-twelve months; mrq = most recent quarter; *FY ending in June, **excluding non-voting shares

Corporate Bonds

Trading Summary


Bond Symbol Trading Vol (Units) Trading Val (KHR'mn) Latest Yield Credit Rating Bond Feature Coupon Rate (%) Days to Maturity
ABC32A 0 0.0 - - khAA Subordinated Bond 8.50% 2,356
ABC32B 0 0.0 - - KhAA Subordinated Bond 8.50% 2,398
CGSM33A 0 0.0 - - KhAAA Sustainability Bond SOFR +3% or 5.5% per annum, whichever is higher 3,018
CIAF28A 0 0.0 - - KhAAA N/A 6.30% Annually 1,222
CIAF30A 0 0.0 - - KhAAA Guaranteed Bond 5.60% 1,669
GT27A 0 0.0 - - N/A Plain Bond, Green Bond 7% per annum 847
PPSP29A 0 0.0 - - KhAAA Guaranteed Green Bond Term SOFR + 1.5% 1,409
RRC32A 0 0.0 - - N/A Plain Bond 7% Annually 2,617
RRGO27A 0 0.0 - - KhAAA Guaranteed Bond SOFR+3,5% or 5% per annum (take which one is higher) 864
RRGT32B 0 0.0 - - KhAAA Guaranteed Bond SOFR+3,5% or 5% per annum (take which one is higher) and Year 6 to Year 10: SOFR+3,75% or 5% per annum (take which one is higher) 2,691
SNTD40A 0 0.0 - - N/A Green Infrastructure Bond 180-Day SOFR Average + 1.80% 5,343
SNTD40B 0 0.0 - - N/A Green Infrastructure Bond 180-Day Average SOFR + 1.60% (4.00% - 6.00%) 5,343
SNTD40C 0 0.0 - - N/A Green Infrastructure Bond 180-Day SOFR Average + 3.00% 5,343
Government Bonds

Historical Issuance Summary

  1 Y 2 Y 3 Y 5 Y 10 Y
Total issuance ('K units) 238.1 312.0 187.3 18.0 0.0
Outstanding (KHR'bn) 0.0 0.0 0.0 0.0 0.0
Issuance ('K units, Latest) 34.0 0.0 12.0 8.0 0.0
Coupon rate (Latest) 2.70% 3.20% 3.50% 4.34% 5.25%
Successful yield (Latest) 3.25% - 3.50% 5.00% -
Latest bidding 23-Apr-25 21-May-25 25-Jun-25 45,861 45,525
*Total issuance is the accumulated issuance since September 2022; **Outstanding is aggregate principal value of government that remain outstanding; ***Successful yield: mid yields are shown if multiple price auction method was adopted.


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