Apparel exports from the Southeast Asian nation of Cambodia surged by 26.40 per cent to $1,369.712 million in the first two months of 2024. This accounted for 34.35 per cent of the country's total foreign income, which amounted to $3,985.482 million for the period. The data was provided by the General Department of Customs and Excise (GDCE) under the Ministry of Economy and Finance. However, the trade figures for February 2024 indicate that textile exports are gaining momentum after a long declining trend.

During the period under review, Cambodia's exports of apparel and clothing accessories (knitted) (Chapter 61) amounted to $842.411 million, representing an increase of 24.5 per cent compared to $676.752 million in the corresponding period of 2023. Similarly, exports of apparel and clothing accessories (not knitted) (Chapter 62) rose by 29.7 per cent to $527.301 million, up from $406.693 million in January-February 2023.

In January 2024, Cambodia's apparel exports increased by 26.09 per cent to $665.278 million, compared to $527.779 million in the same month of 2023. The shipment of apparel and clothing accessories (knitted) increased by 24.6 per cent to $406.847 million, up from $326.457 million during the corresponding month of the previous year. Meanwhile, exports of apparel and clothing accessories (not knitted) improved by 28.4 per cent to $258.431 million in January 2024.

In terms of imports, the value of Cambodia's knitted or crocheted fabric (Chapter 60) imports from January to February 2024 was $403.788 million, marking a rise of 24.5 per cent compared to $324.344 million in the same period of 2023. Imports of man-made fibre (Chapter 55) gained 36.8 per cent to $221.301 million, compared to $161.801 million in the corresponding period of the previous year. Meanwhile, cotton and cotton yarn (Chapter 52) imports increased by 41.7 per cent, reaching $86.639 million during the period under review, up from $59.079 million in the same period of 2023.

Global garment and apparel demand had noticed a slowdown since the third quarter of the year 2022. Higher global demand and a limited base accounted for the impressive growth in the foreign trade of textiles and garments from Cambodia.

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.

Fibre2Fashion News Desk (KUL)

Disclaimer - All News/Articles items are subject to copyright and no article either in full or part may be reproduced in any form without permission from Fibre2Fashion Pvt. Ltd.