For years Cambodia has been running a negative trade balance, meaning that the value of its imports exceeds that of its exports. In 1997 the deficit was US$328 million; in 1998, US$391.4 million; and US$215.7 million in 1999. Contributing to an improved trade balance was the dramatic growth in the export of garments, now the country's major export. The export of garments more than doubled in value between 1997 and 1999. Cambodia's major exports in 1999 (in order of value) were garments, logs and sawn timber, and crude rubber. Its major imports (in order of value) were petroleum products, cigarettes, motorcycles, gold, and other vehicles. In 2000, Cambodia had exports of US$942 million and imports of US$1.3 billion.
Cambodia's leading export markets (in order of importance) in 1999 were Singapore, Hong Kong, Thailand, Vietnam, Taiwan, Japan, and Malaysia. Its imports were primarily from (in order of importance) Thailand, Hong Kong, Singapore, Vietnam, Japan, Indonesia, and France. Its greatest trade deficit is with Thailand followed by Vietnam and Hong Kong. It has a trade surplus with Singapore, Malaysia, and Taiwan. With the collapse of the Soviet Union and its shift to capitalism , Cambodia's trade with Russia has declined dramatically.