April 20, 2024
Export

Cambodian Apparel Exports Decrease 12.86% Last Year

Cambodia’s exports of apparel dropped 12.86 percent in 2023 to US $7.86 billion as against $9.02 billion in 2022.

Within apparel exports, knitted clothing overseas shipments fetched $5.47 billion, down 14 percent versus $6.36 billion in 2022.

While woven garment exports garnered $2.39 billion, a drop of 10.4 percent as against $2.66 billion in 2022.

The fall in apparel exports that began from the second half of 2022, continued in to 2023, although other export sectors posted a growth.

The decline in clothing overseas shipments is largely attributed to the slowdown in demand from its main exports markets of the US and EU.

Consumers tightened their purses due to the high inflation, which resulted in reduction in spends on non-essential items like garments.

The clothing export industry is the biggest export earner for the country and cumulatively employs around 800,000 people, mostly women.

However, overall exports from Cambodia reported a growth of 1.8 percent to $22.64 billion last year as against $22.25 billion in 2022.

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