Siem Reap Times

Sunday, May 05, 2024

Cambodia's Garment and Footwear Exports Surge by 20% in First Quarter of 2024

Strong Industry Performance Signals Economic Growth
The garment, footwear, and travel goods industry in Cambodia are experiencing a remarkable surge in exports, with a notable 20 percent increase reported in the first quarter of 2024. This positive growth trend underscores the resilience and potential of Cambodia's economy on the global stage.

According to a report from the General Department of Customs and Excise, Cambodia's exports totaled US$2,941 million in the first quarter of 2024, marking a significant climb from the previous year's figures. The textile and apparel sector led the charge with exports reaching US$2,167 million, followed by robust growth in footwear and travel goods exports.

Mr. Ly Khun Thai, President of the Cambodian Footwear Association, attributed this impressive growth to Cambodia's economic stability, open economy, and government support for investors. The expansion of the garment industry not only boosts economic growth but also creates employment opportunities for hundreds of thousands of Cambodians.

The industry's strong performance is vital for Cambodia's economy, with the United States and the European Union serving as primary export markets. With approximately 1,300 factories and branches employing nearly 900,000 workers, Cambodia's garment, textile, footwear, and travel goods sector play a pivotal role in driving economic development and providing livelihoods for many in the region.
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