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Cambodia defies global textile trends as exports grow 24% in Jan-Sept

14 Oct '24
2 min read
Cambodia defies global textile trends as exports grow 24% in Jan-Sept
Pic: Adobe Stock

Insights

  • Cambodia's apparel exports surged by 24.6 per cent in the first 9 months of 2024, reaching $7.39 billion, despite global market challenges.
  • Exports of knitted and non-knitted clothing rose by 21.5 per cent and 31.9 per cent, respectively.
  • September saw a 31.64 per cent increase in exports.
  • Meanwhile, imports of textile materials like fabrics and fibres also grew, reflecting Cambodia's resilience.
Cambodia's apparel exports surged by 24.6 per cent to $7,388.543 million during the first nine months of 2024, representing 37.25 per cent of the country's total foreign income, which amounted to $19,833.281 million, according to the General Department of Customs and Excise (GDCE) under the Ministry of Economy and Finance. The trade data for September 2024 shows positive growth in textile exports, with the country successfully mitigating the impact of slow demand in the global textile and clothing market.

During this period, Cambodia's exports of knitted apparel and clothing accessories (Chapter 61) totalled $5,034.716 million, an increase of 21.5 per cent compared to $4,145.238 million during the same period in 2023. Similarly, exports of non-knitted apparel and clothing accessories (Chapter 62) rose by 31.9 per cent to $2,353.827 million, up from $1,784.269 million in January-September 2023.

In September 2024, apparel exports grew by 31.64 per cent to $907.602 million, compared to $689.683 million in the same month of 2023. Exports of knitted apparel and accessories increased by 29.6 per cent to $666.041 million, compared to $506.406 million in September 2023. At the same time, exports of non-knitted apparel and accessories rose by 10.7 per cent to $241.561 million in September 2024.

Regarding imports, Cambodia's imports of knitted or crocheted fabrics (Chapter 60) totalled $2,372.351 million from January to September 2024, a rise of 19.2 per cent compared to $1,990.190 million during the same period in 2023. Imports of man-made fibres (Chapter 55) increased by 21.1 per cent to $978.962 million, compared to $808.657 million in the previous year. Meanwhile, imports of cotton and cotton yarn (Chapter 52) grew by 36.1 per cent to $559.212 million, up from $410.808 million during the same period in 2023.

Cambodia's strong performance in textile and garment trade is noteworthy, given the global challenges facing the sector. The sustained high export volumes highlight the country's resilience amid global economic difficulties.

In 2023, the country's apparel exports had declined by 12.91 per cent to $7,868.779 million. This contrasts with a 12.69 per cent increase in apparel exports in 2022, when the total reached $9.035 billion.

ALCHEMPro News Desk (KUL)

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