Cambodia's garment exports grow 25% to $8.9 bn in Jan-Nov 2024

13 Dec '24

2 min read

Cambodia's garment exports grow 25% to $8.9 bn in Jan-Nov 2024

Pic: Adobe Stock

Insights

Cambodia's apparel exports soared by 25.85 per cent to $8.94 billion in the first eleven months of this year, accounting for over a third of the nation's total foreign income.
Growth in both knitted and non-knitted garment exports reflects strong global demand, showcasing the sector's resilience in the face of international economic pressures.

Cambodia’s apparel exports surged by 25.85 per cent to $8.94 billion in the first eleven months of 2024, representing 37.36 per cent of the country’s total foreign income, which amounted to $23.930 billion, according to the General Department of Customs and Excise (GDCE) under the Ministry of Economy and Finance. Trade data for October 2024 showed growth in garment exports, reflecting stronger demand in the global textile and clothing market.

During this period, Cambodia’s exports of knitted apparel and clothing accessories (Chapter 61) totalled $6.109 billion, marking a 22.7 per cent increase from $4.980 billion during the same period in 2023. Likewise, exports of non-knitted apparel and clothing accessories (Chapter 62) rose by 33.3 per cent to $2.833 billion, up from $2.125 billion in January–November 2023.

In November 2024, apparel exports grew by 48.11 per cent to $942.204 million, compared to $636.538 million in the same month of 2023. Exports of knitted apparel and accessories increased by 45.1 per cent to $637.398 million, compared to $439.328 million in November 2023. Meanwhile, exports of non-knitted apparel and accessories rose by 54.6 per cent to $304.806 million in November 2024.

On the import side, Cambodia’s imports of knitted or crocheted fabrics (Chapter 60) reached $2.851 billion from January to November 2024, an increase of 19.1 per cent from $2.393 billion during the same period in 2023. Imports of man-made fibres (Chapter 55) rose by 22.5 per cent to $1.220 billion, compared to $996.459 million in the previous year. Imports of cotton and cotton yarn (Chapter 52) also grew by 39.3 per cent to $697.556 million, up from $500.810 million during the same period in 2023.

Cambodia’s strong performance in the textile and garment trade is notable, especially given the global challenges facing the sector. The sustained high export volumes underline the country’s resilience amid the current global economic scenario.

In 2023, Cambodia’s apparel exports had declined by 12.91 per cent to $7.87 billion. This contrasts with a 12.69 per cent increase in apparel exports in 2022, when the total reached $9.04 billion.

Fibre2Fashion News Desk (KUL)

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