FTA boosts Cambodia's apparel export to South Korea, reaches $173 mn

04 Dec '23

2 min read

Pic: Adobe Stock

Insights

Cambodia's apparel exports to South Korea rose by 16.84 per cent to reach $173.23 million in the first three quarters of 2023.
This year's figure is likely to surpass 2022's $191.37 million.
This boost follows a Free Trade Agreement effective from December 1, 2022.
South Korea's share in Cambodia's total apparel exports increased to 2.05 per cent.

Cambodia’s apparel export to South Korea increased by 16.84 per cent to reach at $173.230 million during the first three quarters of the current year. This year’s trade is likely to surpass the level of 2022, when Cambodia’s shipment was valued at $191.374 million. Both the nations had entered into a Free Trade Agreement (FTA) last year. The trade pact came into effect from December 1, 2022.

According to Fibre2Fashion’s market insight tool TexPro, Cambodia’s apparel exports grew by 16.84 per cent during January-September 2023 from the shipment of $148.261 million in the corresponding period of 2022. During the current year, Cambodia has shipped 2.05 per cent apparel to South Korea, out of its total apparel exports of $8.452 billion in January-September 2023.

The country had exported apparel worth $191.374 million to South Korea during 2022. The share of South Korea was 1.48 per cent in Cambodia’s total shipment of $12.914 billion during the same year. Therefore, the trade has witnessed impressive growth after the trade pact. South Korea’s share also improved in Cambodia’s total apparel export.

Earlier, Cambodia’s apparel export to South Korea was noted at $167.151 million in 2021, $169.716 million in 2020 and $187.650 million in 2019, as per TexPro.

Fibre2Fashion News Desk (KUL)

More Apparel/Garments News - South Korea...

This according to Fibre2Fashion's Market Intelligence Tool - TexPro