Cambodia's apparel exports down 18.98% to $3,654 mn in Jan-Jun 2023

12 Jul '23

2 min read

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From January to June 2023, Cambodia's apparel exports fell 18.98 per cent to $3,654.411 million, making up 31.87 per cent of its total foreign income, according to the country's General Department of Customs and Excise.
This downturn reflects global market sluggishness.
Despite the decline in exports, the drop has been somewhat mitigated.

Cambodia's apparel exports decreased by 18.98 per cent to $3,654.411 million in the first six months of 2023, accounting for 31.87 per cent of its total foreign income of $11,464.480 million during the period, according to general department of customs and excise (GDCE) under ministry of economy and finance.

During the period under review, Cambodia's exports of apparel and clothing accessories (knitted) (Chapter 61) were $2,477.936 million, 21.5 per cent lower than the exports worth $3,157.623 million during the corresponding period of 2022. The country's exports of apparel and clothing accessories (not knitted) (Chapter 62) dropped by 13 per cent to $1,176.475 million. In January-June 2022, the country exported apparel worth $1,352.481 million in this category. The decline in shipments reflects sluggish demand in the global market.

In June 2023, Cambodia's apparel exports declined by 0.81 per cent to $860.368 million compared to the shipment of $867.985 million in the corresponding month of 2022. The shipment of apparel and clothing accessories (knitted) slipped 3.7 per cent to $622.428 million from $646.458 million during the same period last year. But the exports of apparel and clothing accessories (not knitted) gained 7.4 per cent to $237.910 million in June 2023.

As for imports, the country's knitted or crocheted fabric (Chapter 60) imports during January-June 2023 were valued at $1,329.329 million, 21.7 per cent lower than the imports worth $1,696.890 million in the same period of 2022. Manmade fibre (Chapter 55) imports declined by 15 per cent to $689.878 million, against $731.942 million in the same period of 2022. Cotton and cotton yarn (Chapter 52) imports gained 2.6 per cent to reach $277.828 million during the period under review, compared to $270.839 million in the same period of 2022.

The significant drop in the initial months of the first half of the year marked a slowdown in apparel exports. However, the decline was arrested to some extent as the year progressed. Last year, the country's apparel exports increased by 12.69 per cent to $9.035 billion.

Fibre2Fashion News Desk (KUL)

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