Total revenue for the central government is $4.6 billion as of September 2023

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Stock Market

CSX index up 0.25% on November 10 The CSX index closed at 443.4 points on November 10, 2023, which was a 0.25% increase from the previous day. The top gainers on the main board were PAS (+0.98%), CGSM (+0.43%), GTI (+0.35%), and PPAP (+0.14%). PAS (-0.43%) was the only loser on the main board. The closing prices of PWSA, PPSP, ABC, and MJQE remained the same as the previous day. On the growth board, DBDE and JSL decreased by 0.47% and 0.83%, respectively. A total of 54,978 shares worth KHR 290 million were traded. (Source: YSC Research)

Economy and Industry

Total revenue for the central government is $4.6 billion as of September 2023 Cambodia's budgetary central government (BCG) revenue reached over $4.6 billion in the first nine months of 2023, reaching 73% of the financial target. From January to September, the government amassed 19.107 trillion riels, representing 72.8% of the yearly budget law (BL). Tax revenue contributed 16.251 trillion-riel, accounting for 85.06%, while grants and other income stood at 1.009 trillion riel and 1.846 trillion riels, respectively. Other income saw an upsurge of 19.83%. Government expenditures reached 20.823 trillion riels, constituting 63.31% of the year's BL. Operational expenses accounted for 15.142 trillion riels, 72.72% of the BL, while the net acquisition of non-financial assets stood at 5.246 trillion riels, representing 14.03%. The shortfall remains moderate, equated to 25.84% of the forecasted annual budget deficit. (Source: Khmer Times)

Third-quarter insurance premiums hit $87 million Cambodia's insurance industry recorded a premium of $87.3 million in Q3 2023, a 2.6% increase from the previous year, according to a report by the Insurance Regulator of Cambodia (IRC). The growth was attributed to various insurers, including 18 general insurers, 14 life insurers, seven micro-insurance companies, one reinsurance firm, 20 insurance brokers, 34 corporate agents, and loss adjusters. The gross premium from general insurance was $37.2 million, an 8.74% increase. Life insurance premiums were $48.1 million, down 2.4%, and micro-insurance premiums reached $1.9 million, up 28.3%. The total amount of gross claims paid out by insurers was $17 million, up 33.5% from $12.8 million a year earlier. The insurance sector had $1.06 billion in total assets as of Q3 2023. The IRC aims to achieve an insurance contribution rate of 5.5% and an insurance premium rate of $135 per capita by 2030. (Source: Khmer Times)

Thailand is Cambodia's fourth-ranked trading partner Cambodia and Thailand's trade volume decreased by nearly 18% in the first three quarters of 2023, with imports from Thailand accounting for 77% of the total. From January to September, commerce via land and maritime borders totaled $2.82 billion, a 17.9% decrease from the same period in 2022. Thailand is currently Cambodia's fourth-largest trading partner, following China, the US, and Vietnam. Cambodia's exports to Thailand decreased to $652.09 million in the first nine months of 2023, while imports from Thailand fell by 22% to $2.17 billion. The country's current trade deficit stands at $1.52 billion, an improvement from the $2.12 billion deficit seen in the first three quarters of 2022. However, the trade volume between the two nations has been progressing smoothly, with Cambodia's primary exports being agricultural products and some natural resources. The Cambodia Business Council (CBC) has played a crucial role in promoting Cambodian products and potential to Thai traders and investors. (Source: The Phnom Penh Post)

Corporate News

Prominent New York company eager to invest in Cambodia Evercore Inc., a New York-based investment banking advisory firm, is interested in investing in Cambodia's hospitality and tourism sector to transform the country from a labor-intensive system to a skilled-based one. CEO Keith Magnus visited Deputy Prime Minister Sun Chanthol, who highlighted the Royal Government's vision of transforming the country into a skilled industry. He emphasized the government's readiness to facilitate investment and cooperation in industrial zones in Cambodia. Magnus also discussed Evercore's successful performance in Singapore and plans to conduct a study on the investment environment and explore joint cooperation to expand the tourism industry in Cambodia. Cambodia's exports to the US reached $6.8 billion in the first nine months, a 2.1% drop from the same period in 2022. (Source: Khmer Times)

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