Cambodia's apparel export to Australia up 17% after RCEP

29 Dec '22

2 min read

Pic: Shutterstock.com

Cambodia’s apparel exports to Australia increased by 17.16 per cent to $102.583 million in the first nine months of the current year. To a great extent, the growth was fuelled by the Regional Comprehensive Economic Partnership (RCEP), the 15-nation multilateral free trade agreement of which both are members, that came into effect from January this year.

RCEP has provided easier access between member countries as it gives duty free access to almost 90 per cent of goods.

Cambodia is textile-apparel exporter country, while Australia is an importer and a developed economy.

Cambodia’s apparel export to Australia increased 17.16 per cent to $102.583 million in January-September 2022 from $87.557 million in the corresponding period of last year. The shipment fell 20.03 per cent to $71.745 million in January-September 2020 due to COVID disruption from $89.710 million of same period of 2019, according to Fibre2Fashion’s market insight tool TexPro.

Australia’s share in total apparel export of Cambodia is mere one per cent. It shows the weakness of trade linkage in the region. Cambodia exported apparel worth $10.278 billion in January-September 2022 and the US was top importer with a share of 34.93 per cent, as per TexPro. This shows that Cambodia is still in the process of translating its geographical proximity with Australia into higher trade.

Fibre2Fashion News Desk (KUL)

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