SunSirs: Cambodia's Fuel Imports in the First Half of 2024 Amounted to 1.27 Billion US Dollars

https://www.chemnet.com   Jul 23,2024 SunSirs

According to data from the General Administration of Customs and Taxation (GDCE), Cambodia's fuel imports reached 1.27 billion US dollars in the first half of 2024, an increase of 22% compared to 1.04 billion US dollars in the same period of 2023. The data indicates that in the first half of this year, Cambodia's gasoline imports amounted to 510 million US dollars, a year-on-year increase of 31%; Diesel imports amounted to 760 million US dollars, a year-on-year increase of 16%.

Duke Lin Xing, Vice President of the Cambodian Chamber of Commerce, introduced that the main reasons for the increase in fuel imports in Cambodia in the first half of this year are the rise in international market oil prices and the restoration of good production chain operation in Cambodia. Despite many external factors affecting global demand, Cambodia's manufacturing industry remains strong, leading to an increase in fuel demand and a year-on-year increase in fuel imports.

The oil price in Cambodia is determined by the global fuel price market, with most fuel imported from Singapore, Thailand, and Vietnam.

According to the forecast of the Ministry of Mines and Energy, the demand for petroleum products in Cambodia will increase from 2.8 million tons in 2020 to 4.8 million tons in 2030, and then to 8.3 million tons in 2040.

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