Sharp 35% Drop in Cambodian Imports from Thailand

Cambodian imports from Thailand plunged by 35% between June and November 2025, reaching USD 1.25 billion compared to much higher levels the previous year.

This decline, confirmed by Cambodian Customs, is explained by border checkpoint closures and targeted bans amid an armed conflict that has paralyzed bilateral exchanges

Timeline of Border Tensions

Fighting broke out in 2025 near the Emerald Triangle, killing a Cambodian soldier and triggering cross-accusations, followed by Thai bombardments. Cambodia banned Thai fruits, vegetables, petroleum and gas from June 17, while crossings like Chong Sai Taku were closed indefinitely, reducing Thai-Cambodian border trade by 99.9% in August and September. A ceasefire in July was not enough to revive flows.

Trade Statistics

Over the first ten months of 2025, total bilateral trade fell by 9.3% to USD 3.2 billion, with Cambodian exports to Thailand down 11.5% (USD 635 million) and imports down 8.8% (USD 2.5 billion). In June, Thai border trade contracted by 9.5% to 28.72 billion baht, while in September it plunged by 99.9% with Thailand, and in November overall border trade fell by 4.5%. Affected products include fuels, vehicles and agricultural foodstuffs, which traditionally accounted for 13.5% of Cambodian imports.

Macroeconomic Impacts

The Asian Development Bank revised Cambodia’s 2025 growth down to 4.9% from an initial 6.1%, citing tensions with Thailand and US economic uncertainty. Inflation exceeds 3% due to logistical bottlenecks, with a 30% drop in remittances and a 40% loss in tourism revenues; daily losses amount to USD 11.8 million.

Thailand continues to record a persistent trade surplus of 109.2 billion baht, but its exports to Cambodia via Laos and Vietnam partially compensate.

Outlook and Diversification

Despite alternative sea routes (Sihanoukville via Laem Chabang), logistics costs are soaring, and border trade remained nil in November 2025. Cambodia is pivoting toward Vietnam (USD 6.58 billion, +1.3%) and China for essential inputs, targeting a bilateral goal of USD 15 billion in 2025 that is now compromised. Strengthened diplomacy is needed to restore this vital ASEAN artery.