Between Jan & Nov Cambodian Garment Exports Down 14.8%
In the first eleven months of the current year, Cambodian apparel exports dropped 14.8 percent to US $7.2 billion from $8.48 billion in the same period of 2022.
According to a Ministry of Commerce official, clothing overseas shipments declined primarily due to reduced consumer spending and economic slowdown in its main markets of the US and EU.
Between January and November 2023, overall exports from the SE Asian country were in positive territory and totaled $20.5 billion, a marginal increase of 1.2 percent.
However, Cambodia’s exports to China rose faster at 18 percent to $1.3 billion dollars in the reporting period, as against $1.1 billion dollars in the comparable period of the previous year.
China remains the third biggest export market for Cambodia after the US and Vietnam and garments, footwear and travel goods are the largest foreign exchange earners for the country.
These three sectors between them employ approximately 840,000 workers, mostly females and have around 1,300 factories.
