Cambodia's apparel exports rise 18.5% to $4,330 mn in H1 2024

13 Jul '24

2 min read

Cambodia's apparel exports rise 18.5% to $4,330 mn in H1 2024

Pic: Adobe Stock

Insights

Cambodia's apparel exports surged by 18.50 per cent to $4.33 billion in the first half of 2024, making up 35.21 per cent of the country's total foreign income.
Exports of knitted apparel increased by 13.0 per cent, while non-knitted apparel rose by 30.1 per cent.
Imports of knitted fabrics, man-made fibre, and cotton also saw significant increases.

Apparel exports from Cambodia surged by 18.50 per cent to $4,330.373 million in the first half of 2024, accounting for 35.21 per cent of the country's total foreign income, which amounted to $12,296.123 million for the period, according to the General Department of Customs and Excise (GDCE) under the Ministry of Economy and Finance. The trade figures for June 2024 indicate that textile exports experienced positive growth, albeit minimal.

During the period under review, Cambodia's exports of apparel and clothing accessories (knitted) (Chapter 61) amounted to $2,799.837 million, representing an increase of 13.0 per cent compared to $2,477.936 million in the corresponding period of 2023. Similarly, exports of apparel and clothing accessories (not knitted) (Chapter 62) rose by 30.1 per cent to $1,530.536 million, up from $1,176.475 million in January-June 2023.

In June 2024, Cambodia's apparel exports increased by 4.88 per cent to $902.179 million, compared to $860.338 million in the same month of 2023. The shipment of apparel and clothing accessories (knitted) decreased by 1.7 per cent to $612.090 million, down from $622.428 million during the corresponding month of the previous year. Meanwhile, exports of apparel and clothing accessories (not knitted) improved by 21.9 per cent to $290.089 million in June 2024.

In terms of imports, the value of Cambodia's knitted or crocheted fabric (Chapter 60) imports from January to June 2024 was $1,554.063 million, marking a rise of 16.9 per cent compared to $1,329.329 million in the same period of 2023. Imports of man-made fibre (Chapter 55) gained 21.7 per cent to $671.776 million, compared to $551.783 million in the corresponding period of the previous year. Meanwhile, cotton and cotton yarn (Chapter 52) imports increased by 36.4 per cent, reaching $378.985 million during the period under review, up from $277.828 million in the same period of 2023.

The impressive growth in the foreign trade of textiles and garments from Cambodia was attributed to higher global demand and a low base. The continued high shipment from the nation is a significant development amid global economic challenges.

In 2023, the country's apparel exports declined by 12.91 per cent to $7,868.779 million. In contrast, the country's apparel exports had increased by 12.69 per cent, reaching $9.035 billion in 2022.

Fibre2Fashion News Desk (KUL)

More Apparel/Garments News - Cambodia...