Cambodia's apparel exports down 22.56% to $1,654 mn in Q1 2023

17 Apr '23

2 min read

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Cambodia's apparel exports fell 22.56 per cent to $1.65 billion in Q1 2023, accounting for 30.7 per cent of the country's total foreign income.
This decline contrasts with a 12.69 per cent increase in apparel exports in 2022.
The drop reflects sluggish global demand, with knitted exports falling 27.3 per cent and non-knitted exports dropping 12.8 per cent.

Cambodia's apparel exports decreased by 22.56 per cent to $1,654.632 million in the first quarter (Q1) of 2023, accounting for 30.7 per cent of its total foreign income of $5,392.013 million during the period, according to general department of customs and excise (GDCE) under ministry of economy and finance. This represents a significant drop from last year when the country's apparel exports increased by 12.69 per cent to $9.035 billion.

During the period under review, Cambodia's exports of apparel and clothing accessories (knitted) (Chapter 61) were $1,047.137 million, 27.3 per cent lower than the exports worth $1,440.385 million during the corresponding period of 2022. The country's exports of apparel and clothing accessories (not knitted) (Chapter 62) dropped by 12.8 per cent to $607.495 million. In January-March 2022, the country exported apparel worth $696.729 million in this category. The decline in shipments reflects sluggish demand in the global market.

In March 2023, Cambodia's apparel exports declined by 15.78 per cent to $571.187 million compared to the shipment of $678.263 million in the corresponding month of 2022. The shipment of apparel and clothing accessories (knitted) slipped 19.1 per cent to $379.385 million from $458.068 million during the same period last year. The exports of apparel and clothing accessories (not knitted) dropped by 8.8 per cent to $200.802 million in March 2023.

As for imports, the country's knitted or crocheted fabric (Chapter 60) imports during January-March 2023 were valued at $591.904 million, 24 per cent lower than the imports worth $779.053 million in the same period of 2022. Manmade fibre (Chapter 55) imports declined by 18.9 per cent to $269.846 million, against $332.693 million in the same period of 2022. Cotton (Chapter 52) imports slipped 7.3 per cent to reach $129.145 million during the period under review, compared to $139.257 million in the same period of 2022.

Fibre2Fashion News Desk (KUL)

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