22% YoY rise in Cambodia's textile-garment exports in Jan-May 2024

Exports of apparel and textiles accounted for $3.628 billion during the period—up by 22 per cent YoY, a ministry report said.

Export of footwear was worth $615 million—up by 10 per cent YoY, while the figure for travel goods was $726 million—up by 18.8 per cent YoY, domestic media outlets reported.

The GFT sector comprises around 1,680 factories and branches, employing nearly 918,000 workers, mostly female, according to the ministry of labour and vocational training.

The country’s foreign trade rose significantly between January and May this year, growing by 12 per cent YoY, the data shows. The country’s total trade volume reached over $21.6 billion, up from $19.2 billion during the same period last year.

It exported goods worth $10.18 billion during the period—a YoY increase of 10.8 per cent, while it imported goods worth $11.4 billion—a 13.6-per cent YoY increase.

The World Bank recently said the country’s economic growth is expected to improve marginally to 5.8 per cent this year—up from 5.6 per cent in 2023, and should further strengthen to 6.1 per cent in 2025 and 6.4 per cent in 2026 as revival in GFT exports and tourism propel the ongoing recovery.

Fibre2Fashion News Desk (DS)