Cambodia's apparel exports rise 26.77% in Jan 2024

16 Feb '24

2 min read

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Insights

In January, Cambodia experienced a surge in apparel exports, rising by 26.77 per cent to $704.434 million, contributing 36.15 per cent to its total foreign income.
Both knitted and non-knitted apparel exports saw significant increases of 24.3 per cent and 30.9 per cent, respectively.
Knitted fabric imports declined, while cotton and cotton yarn imports rose.

In January 2024, apparel exports from Cambodia increased by 26.77 per cent, reaching $704.434 million. This accounted for 36.15 per cent of the country's total foreign income, which amounted to $1,967.017 million for the period, as per the General Department of Customs and Excise (GDCE) under the ministry of economy and finance. The trade figures for December 2023 also showed an upward trend as garment exports from the nation increased by 14.07 per cent in the last month of 2023.

During the period under review, Cambodia's exports of apparel and clothing accessories (knitted) (Chapter 61) totalled $435.564 million, an increase of 24.3 per cent compared to $350.294 million in the corresponding period of 2023. Similarly, exports of apparel and clothing accessories (not knitted) (Chapter 62) jumped by 30.9 per cent to $268.870 million in January 2024, up from $205.371 million in January 2023. This upward trend is attributed to the changing global scenario.

In terms of imports, the value of Cambodia's knitted or crocheted fabric (Chapter 60) imports in January 2024 was $201.092 million, marking a decline of 1.8 per cent compared to $204.822 million in the same period of 2023. Imports of man-made fibre (Chapter 55) fell by 8.8 per cent to $106.935 million, compared to $117.224 million in the corresponding period of the previous year. Meanwhile, cotton and cotton yarn (Chapter 52) imports increased by 42.1 per cent, reaching $66.732 million during the period under review, up from $46.950 million in the same period of 2023.

In 2023, Cambodia’s apparel exports declined by 12.91 per cent to $7,868.779 million. It accounted for 34.80 per cent of the country's total foreign income, which was $22,644.989 million for the period. In contrast, the country's apparel exports had increased by 12.69 per cent, reaching $9.035 billion in 2022.

Fibre2Fashion News Desk (KUL)

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