Cambodia's apparel exports up 18.9% to $5,314 mn in Jan-Jul 2024

14 Aug '24

2 min read

Cambodia's apparel exports up 18.9% to $5,314 mn in Jan-Jul 2024

Pic: Adobe Stock

Insights

Cambodia's apparel exports surged by 18.9 per cent to $5.31 billion in January-July, representing 35.99 per cent of the country's total foreign income.
Knitted apparel exports rose by 14.1 per cent, while non-knitted apparel exports increased by 29.5 per cent.
Meanwhile, imports of textiles and raw materials also saw significant increases.

Apparel exports from Cambodia surged by 18.90 per cent to $5,314.978 million in the first seven months of 2024, accounting for 35.99 per cent of the country's total foreign income, which amounted to $14,764.932 million during this period, according to the General Department of Customs and Excise (GDCE) under the Ministry of Economy and Finance. The trade figures for July 2024 indicate that textile exports experienced positive growth.

During the period under review, Cambodia's exports of apparel and clothing accessories (knitted) (Chapter 61) amounted to $3,498.460 million, representing an increase of 14.1 per cent compared to $3,065.251 million in the corresponding period of 2023. Similarly, exports of apparel and clothing accessories (not knitted) (Chapter 62) rose by 29.5 per cent to $1,817.518 million, up from $1,403.776 million in January-July 2023.

In July 2024, Cambodia's apparel exports increased by 21.01 per cent to $985.605 million, compared to $814.616 million in the same month of 2023. The shipment of apparel and clothing accessories (knitted) increased by 19.0 per cent to $698.623 million, up from $587.315 million during the corresponding month of the previous year. Meanwhile, exports of apparel and clothing accessories (not knitted) improved by 26.2 per cent to $286.982 million in July 2024.

In terms of imports, the value of Cambodia's knitted or crocheted fabric (Chapter 60) imports from January to July 2024 was $1,854.230 million, marking a rise of 20.5 per cent compared to $1,538.291 million in the same period of 2023. Imports of man-made fibres (Chapter 55) increased by 22.8 per cent to $767.621 million, compared to $624.985 million in the corresponding period of the previous year. Meanwhile, cotton and cotton yarn (Chapter 52) imports increased by 40.3 per cent, reaching $437.324 million during the period under review, up from $311.770 million in the same period of 2023.

The impressive growth in the foreign trade of textiles and garments from Cambodia stands out as an exception, given that the global textile and garment market is facing various challenges. The continued high shipment volumes from the nation represent a significant development amid global economic difficulties.

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)

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