Cambodia's apparel trade booms in Jan-May 2024

During the period under review, Cambodia's exports of apparel and clothing accessories (knitted) (Chapter 61) amounted to $2,187.747 million, representing an increase of 17.9 per cent compared to $1,855.508 million in the corresponding period of 2023. Similarly, exports of apparel and clothing accessories (not knitted) (Chapter 62) rose by 32.2 per cent to $1,240.448 million, up from $938.565 million in January-May 2023.

In May 2024, Cambodia's apparel exports increased by 29.03 per cent to $831.681 million, compared to $644.517 million in the same month of 2023. The shipment of apparel and clothing accessories (knitted) increased by 21.8 per cent to $561.315 million, up from $460.679 million during the corresponding month of the previous year. Meanwhile, exports of apparel and clothing accessories (not knitted) improved by 47.1 per cent to $270.366 million in May 2024.

In terms of imports, the value of Cambodia's knitted or crocheted fabric (Chapter 60) imports from January to May 2024 was $1,250.236 million, marking a rise of 15.7 per cent compared to $1,080.570 million in the same period of 2023. Imports of man-made fibre (Chapter 55) gained 24.7 per cent to $572.282 million, compared to $459.004 million in the corresponding period of the previous year. Meanwhile, cotton and cotton yarn (Chapter 52) imports increased by 40.1 per cent, reaching $319.600 million during the period under review, up from $228.127 million in the same period of 2023.

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.

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)