Cambodia's apparel exports down 12.9% to $7.8 bn in 2023

During the recently concluded year of 2023, apparel exports from Cambodia declined by 12.91 per cent to $7,868.779 million. This accounted for 34.80 per cent of the country's total foreign income, which amounted to $22,644.989 million for the period. The General Department of Customs and Excise (GDCE) under the ministry of economy and finance provided the data. However, trade figures for December 2023 show that textile exports have returned to growth, with garment exports from the nation increasing by 14.07 per cent in the last month of 2023. 

During the period under review, Cambodia's exports of apparel and clothing accessories (knitted) (Chapter 61) totalled $5,478.550 million, a decrease of 14 per cent compared to $6,367.020 million in the corresponding period of 2022. Similarly, exports of apparel and clothing accessories (not knitted) (Chapter 62) fell by 10.4 per cent to $2,390.229 million, down from $2,668.327 million in January-December 2022. This decline is attributed to reduced global demand. 

In December 2023, Cambodia's apparel exports jumped 14.07 per cent to $762.723 million, compared to $668.508 million in the same month of 2022. The shipment of apparel and clothing accessories (knitted) increased by 17.6 per cent to $497.610 million, up from $423.261 million during the corresponding month of the previous year. Meanwhile, exports of apparel and clothing accessories (not knitted) improved by 8.1 per cent to $265.113 million in December 2023. 

In terms of imports, the value of Cambodia's knitted or crocheted fabric (Chapter 60) imports from January to December 2023 was $2,597.390 million, marking a decline of 10.2 per cent compared to $2,891.251 million in the same period of 2022. Imports of man-made fibre (Chapter 55) fell by 8.4 per cent to $1,098.843 million, compared to $1,199.842 million in the corresponding period of the previous year. Meanwhile, cotton and cotton yarn (Chapter 52) imports increased by 10.6 per cent, reaching $561.991 million during the period under review, up from $507.933 million in the same period of 2022. 

The significant drop in exports during the last year, 2023, indicates a slowdown in Cambodia's apparel industry. In contrast, the country's apparel exports had increased by 12.69 per cent, reaching $9.035 billion in 2022. 

ALCHEMPro News Desk (KUL)