Cambodia's Feb garments-footwear-travel goods exports drop 25.54% YoY

14 Mar '23

2 min read

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Exports of garments, footwear and travel goods in Cambodia dropped by 25.54 per cent to $744 million in February this year from $986 million in February 2022, according to the general department of customs and excise (GDCE). The declining trend began around six months ago.

The share of such exports at 43.31 per cent in February, while it was still above 50 per cent in January.

Exports of such goods fell by over 28 per cent in January as well to worth $782 million over $1.08 billion in the same month last year.

Industry experts feel export orders for such goods would not revive until mid-2023 as European and US retailers have enough stock of unsold goods. The Ukraine war and inflation have also caused a downward trend in the global demand for such items.

Knitted apparel brought in $326 million in February—a decline of 28.4 per cent over $456 million earned in February last year, while non-knitted apparel earned $201 million—a decline of 12.7 per cent over $231 million in the same month last year.

Travel goods garnered $124 million in the month—a drop of 24.4 per cent YoY. Footwear exports earned just $92 million—a decline of 31.6 per cent YoY, according to Cambodian media reports.

Meanwhile, the Cambodian government is planning to launch a scheme in partnership with textile and garment factory owners to provide financial support to workers who lost jobs because of factory closures.

Fibre2Fashion News Desk (DS)

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