Cambodia's apparel exports surge 26% to $1,369 mn in Jan-Feb 2024

During the period under review, Cambodia's exports of apparel and clothing accessories (knitted) (Chapter 61) amounted to $842.411 million, representing an increase of 24.5 per cent compared to $676.752 million in the corresponding period of 2023. Similarly, exports of apparel and clothing accessories (not knitted) (Chapter 62) rose by 29.7 per cent to $527.301 million, up from $406.693 million in January-February 2023.

In January 2024, Cambodia's apparel exports increased by 26.09 per cent to $665.278 million, compared to $527.779 million in the same month of 2023. The shipment of apparel and clothing accessories (knitted) increased by 24.6 per cent to $406.847 million, up from $326.457 million during the corresponding month of the previous year. Meanwhile, exports of apparel and clothing accessories (not knitted) improved by 28.4 per cent to $258.431 million in January 2024.

In terms of imports, the value of Cambodia's knitted or crocheted fabric (Chapter 60) imports from January to February 2024 was $403.788 million, marking a rise of 24.5 per cent compared to $324.344 million in the same period of 2023. Imports of man-made fibre (Chapter 55) gained 36.8 per cent to $221.301 million, compared to $161.801 million in the corresponding period of the previous year. Meanwhile, cotton and cotton yarn (Chapter 52) imports increased by 41.7 per cent, reaching $86.639 million during the period under review, up from $59.079 million in the same period of 2023.

Global garment and apparel demand had noticed a slowdown since the third quarter of the year 2022. Higher global demand and a limited base accounted for the impressive growth in the foreign trade of textiles and garments from Cambodia.

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.

ALCHEMPro News Desk (KUL)