Cambodia's apparel industry resilient, exports up 20% in Jan-Apr 2024

12 May '24

2 min read

Cambodia's apparel industry resilient, exports up 20% in Jan-Apr 2024

Pic: Adobe Stock

Insights

Cambodia's apparel exports grew by 20.80 per cent in the first 4 months of 2024, representing 32.42 per cent of its foreign income.
This increase reflects a continued momentum in the textile sector, with exports of knitted and non-knitted clothing accessories also seeing significant rises.
Cambodia's robust export performance indicates a resilient sector.

Apparel exports from Cambodia surged by 20.80 per cent to $2,596.514 million in the first four months of 2024, accounting for 32.42 per cent of the country's total foreign income, which amounted to $8,005.936 million for the period, according to the General Department of Customs and Excise (GDCE) under the Ministry of Economy and Finance. The trade figures for April 2024 indicate that textile exports have continued to gain momentum.

During the period under review, Cambodia's exports of apparel and clothing accessories (knitted) (Chapter 61) amounted to $1,626.432 million, representing an increase of 16.6 per cent compared to $1,394.829 million in the corresponding period of 2023. Similarly, exports of apparel and clothing accessories (not knitted) (Chapter 62) rose by 28.5 per cent to $970.082 million, up from $754.727 million in January-April 2023.

In April 2024, Cambodia's apparel exports increased by 10.35 per cent to $546.191 million, compared to $494.924 million in the same month of 2023. The shipment of apparel and clothing accessories (knitted) increased by 6.6 per cent to $370.491 million, up from $347.692 million during the corresponding month of the previous year. Meanwhile, exports of apparel and clothing accessories (not knitted) improved by 19.3 per cent to $175.700 million in April 2024.

In terms of imports, the value of Cambodia's knitted or crocheted fabric (Chapter 60) imports from January to April 2024 was $889.091 million, marking a rise of 7.8 per cent compared to $825.029 million in the same period of 2023. Imports of man-made fibre (Chapter 55) gained 18.5 per cent to $436.518 million, compared to $368.305 million in the corresponding period of the previous year. Meanwhile, cotton and cotton yarn (Chapter 52) imports increased by 33.1 per cent, reaching $233.182 million during the period under review, up from $175.231 million in the same period of 2023.

Global garment and apparel demand had been slowing down since the third quarter of 2022. The impressive growth in the foreign trade of textiles and garments from Cambodia was attributed to higher global demand and a limited base. The continued high shipment from the nation is a significant development amid global economic challenges due to geopolitical tension.

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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