Cambodia's export revenue from electrical machinery and equipment plummeted to approximately 1.4 billion US dollars during the first eight months of 2024, a sharp decline of 34.8 percent compared to the same period in 2023. The downturn is primarily due to weakened global economic growth and reduced demand for non-essential goods, according to economists. The global slowdown in consumer spending has hit production cycles hard, causing a drop in exports across several sectors.

Economist Hong Vanak of the Royal Academy of Cambodia noted that geopolitical conflicts and economic uncertainty have significantly reduced orders for electrical products. However, he expressed optimism for recovery in the near future, with demand expected to rise as the global economy stabilizes. Cambodia's recent outreach to investors in the US and Canada is seen as a key part of efforts to stimulate growth and restore export volumes.

In 2023, Cambodia’s electrical machinery exports had surged, reaching over 3 billion US dollars. However, the current downturn highlights the challenges facing the global market, though Cambodia remains focused on building infrastructure and enhancing investor confidence.

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