From January-November 2024, Cambodia’s earnings from textile exports increased by 25 per cent to over $10 billion compared to the same period in 2023.

As per data by the General Department of Customs and Excise (GDCE), in the first 11 months of the year, Cambodia’s exports of 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) increased by 25.8 per cent Y-o-Y to $10.64 billion as against $8.46 billion in the previous year.

During the 11-month period, Cambodia’s textile exports under HS Code 61 increased by 22.7 per cent to $6.11 billion; Under Code 62, the country’s textile exports rose by 33.3 per cent to $2.83 billion, exports under Code 63 rose by 37 per cent to $186.97 million and exports under Code 64 expanded by 24.3 per cent to $1.51 billion.

Attributing this exports growth to global economic recovery, Lim Heng, Vice President, Cambodia Chamber of Commerce, cites the country’s political stability as one of the major factors driving it compared to other major textile-producing nations such as Myanmar and Bangladesh.

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, Cambodia Confederation of Investors Association (CCIA) and Cambodia Footwear Association (CFA), notes, following a pandemic-induced decline, the sector began recovering from mid-2023 in October. This growth can be attributed to the country’s political stability, attractive investment laws, skilled workforce and expanding markets, he says.

He also credits the government leaders for promoting investment and encouraging the purchase of Cambodian-made products. The country’s textile exports will continue to expand in the remainder of 2024 and 2025, he affirms.