Cambodia's apparel exports down 23.28 per cent to $2,794 mn in Jan-May

17 Jun '23

2 min read

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Insights

Cambodia's apparel exports significantly declined by 23.28 per cent to $2,794.073 million in the first 5 months of 2023.
This decline affected both knitted and non-knitted apparel, reflecting the sluggish global demand.
Simultaneously, imports of materials like knitted fabric and manmade fibre saw a marked decline, while cotton imports saw a slight increase.

Cambodia's apparel exports decreased by 23.28 per cent to $2,794.073 million in the first five months of 2023, accounting for 30.76 per cent of its total foreign income of $9,183.473 million during the period, according to general department of customs and excise (GDCE) under ministry of economy and finance. This represents a significant drop from last year when the country's apparel exports increased by 12.69 per cent to $9.035 billion.

During the period under review, Cambodia's exports of apparel and clothing accessories (knitted) (Chapter 61) were $1,855.508 million, 26.1 per cent lower than the exports worth $2,511.164 million during the corresponding period of 2022. The country's exports of apparel and clothing accessories (not knitted) (Chapter 62) dropped by 17 per cent to $938.565 million. In January-May 2022, the country exported apparel worth $1,130.954 million in this category. The decline in shipments reflects sluggish demand in the global market.

In May 2023, Cambodia's apparel exports declined by 16.28 per cent to $644.517 million compared to the shipment of $769.517 million in the corresponding month of 2022. The shipment of apparel and clothing accessories (knitted) slipped 17.8 per cent to $274.406 million from $135.560 million during the same period last year. The exports of apparel and clothing accessories (not knitted) dropped by 12 per cent to $183.838 million in May 2023.

As for imports, the country's knitted or crocheted fabric (Chapter 60) imports during January-May 2023 were valued at $1,080.570 million, 23.5 per cent lower than the imports worth $1,412.060 million in the same period of 2022. Manmade fibre (Chapter 55) imports declined by 17.8 per cent to $459.018 million, against $558.070 million in the same period of 2022. Cotton and cotton yarn (Chapter 52) imports gained 2 per cent to reach $228.127 million during the period under review, compared to $223.632 million in the same period of 2022.

Fibre2Fashion News Desk (KUL)

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