Cambodia's apparel exports down 15% to $7,106 mn in Jan-Nov

Apparel exports from the Southeast Asian nation of Cambodia declined by 15.06 per cent to $7,106.055 million in the first eleven months of 2023. This accounted for 34.67 per cent of the country's total foreign income, which amounted to $20,494.677 million for the period. The data was provided by the General Department of Customs and Excise (GDCE) under the ministry of economy and finance. However, the trade figures for November 2023 indicate that textile exports returned to the green bracket. 

During the period under review, Cambodia's exports of apparel and clothing accessories (knitted) (Chapter 61) amounted to $4,980.940 million, representing a decrease of 16.2 per cent compared to $5,943.759 million in the corresponding period of 2022. Similarly, exports of apparel and clothing accessories (not knitted) (Chapter 62) fell by 12.3 per cent to $2,125.115 million, down from $2,423.080 million in January-November 2022. This decline is attributed to reduced global demand. 

In November 2023, Cambodia's apparel exports inched up by 2.91 per cent to $636.538 million, compared to $618.766 million in the same month of 2022. The shipment of apparel and clothing accessories (knitted) increased by 2.1 per cent to $439.328 million, up from $430.131 million during the corresponding month of the previous year. Meanwhile, exports of apparel and clothing accessories (not knitted) improved by 4.5 per cent to $197.210 million in November 2023. 

In terms of imports, the value of Cambodia's knitted or crocheted fabric (Chapter 60) imports from January to November 2023 was $2,393.458 million, marking a decline of 10.9 per cent compared to $2,709.589 million in the same period of 2022. Imports of man-made fibre (Chapter 55) fell by 9.6 per cent to $996.459 million, compared to $1,102.303 million in the corresponding period of the previous year. Meanwhile, cotton and cotton yarn (Chapter 52) imports increased by 8.8 per cent, reaching $500.810 million during the period under review, up from $460.240 million in the same period of 2022. 

The significant drop in exports during the first eleven months of the year indicates a slowdown in Cambodia's apparel exports. In contrast, last year the country's apparel exports increased by 12.69 per cent, reaching $9.035 billion. 

ALCHEMPro News Desk (KUL)