The UK's apparel imports totalled $20.278 billion last year, with Cambodia ranking as the seventh-largest supplier. The imports from Cambodia were recorded at $984.119 million, constituting 4.85 per cent of the total. The inbound trade with Cambodia decreased by 8.93 per cent from the shipment of $1,080.569 million in 2022. The imports dropped to $613.344 million in 2021 but recovered again, surging by 76.18 per cent in 2022, according to Fibre2Fashion's market insight tool TexPro.
It's noteworthy that the UK's new Developing Countries Trading Scheme (DCTS) has assisted Cambodia in improving its position in the UK market. Cambodia advanced to fifth place in the UK's apparel imports in the second half of the last year, benefitting from the DCTS, which was implemented in the latter half of June 2023. During this period, the UK imported $560.155 million worth of apparel from Cambodia, representing 5.42 per cent of its total imports of $10.339 billion.
TexPro trade data indicates that apparel imports from Cambodia decreased by 6.44 per cent in July-December 2023 compared to the same period in 2022, amidst a global economic slowdown and uncertainty.
Recent reports indicate that Cambodia's total exports to the UK rose by 25 per cent to $136 million in January-February 2024. The trade has benefitted from the UK's DCTS, which allows tariff-free entry for 99 per cent of goods, including textile products for 65 developing countries.
Recently, during a roundtable discussion hosted by the Cambodia Development Centre, it was conveyed that Cambodia will maintain its tariff advantages on exports to the UK under DCTS, even after its transition from the least developed country (LDC) status.
ALCHEMPro News Desk (KUL)
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