Garment workers at a factory in Cambodia produce clothing for export. Post Staff
The global economic recovery has significantly boosted Cambodia’s exports, particularly textiles, which earned the country over $10 billion during the first 11 months of 2024 – a 25% increase compared to the same period in 2023.
Between January and November, the country exported garment products under Harmonised System (HS) codes 61 (knitted articles of apparel and clothing accessories), 62 (non-knitted articles), 63 (other textiles) and 64 (footwear, gaiters) valued at $10.64 billion – a year-on-year rise of 25.8% from $8.46 billion, according to the General Department of Customs and Excise (GDCE).
This represents 44.45% of Cambodia’s total exports of $23.93 billion during the same period.
Exports under HS Code 61 totalled $6.11 billion (up 22.7%); Code 62 reached $2.83 billion (up 33.3%); Code 63 amounted to $186.97 million (up 37%); and Code 64 achieved $1.51 billion (up 24.3%).
Lim Heng, vice-president of the Cambodia Chamber of Commerce, attributed the surge in textile exports to the global economic recovery, which has boosted travel and demand for consumer goods, including textiles. He also highlighted the country’s advantage, citing its political stability compared to other major textile-producing nations such as Myanmar and Bangladesh.
“Cambodia currently has several investment projects in the textile sector, with many factories being established. Global economic growth, coupled with the revival of the tourism sector, will continue to drive demand for Cambodian textile products. The US, Canada and Europe remain key markets,” Heng noted.
In November, the Council for the Development of Cambodia (CDC) approved 43 investment projects worth $940 million, expected to create approximately 39,000 jobs. Of these ventures, 11 are in the textile sector.
Ly Kunthai, president of both the Cambodia Confederation of Investors Association (CCIA) and the Cambodia Footwear Association (CFA), noted in October that the sector had begun to recover from mid-2023 following a pandemic-induced decline. He attributed this growth to the country’s political stability, attractive investment laws, skilled workforce and expanding markets.
“The increase in textile export revenues stems from Cambodia’s political stability, which distinguishes it from other ASEAN countries. The workforce here is efficient and produces high-quality goods at consistent levels,” he explained.
He also credited government leaders for their active role in promoting investment and encouraging the purchase of Cambodian-made products.
Looking ahead to the remainder of 2024 and into 2025, Kunthai expressed confidence that the country’s textile exports will continue their upward trajectory.
