From Jan-Sep ’24, Cambodia’s export earnings from the textile sector grew by 25 per cent to nearly $9 billion compared to the same period in 2023.

From $7.034 billion during Q1-Q3 2023, Cambodia’s textile exportsrose by 24.51 per cent during the first nine months of the year. They represented 44.16 per cent of the country’s total export revenue for Q1-Q3 2024, which reached $19.833 billion, according to the General Department of Customs and Excise (GDCE).

Among these exports, exports of Code 61 products rose by 12.5 per cent to $5.034 billion, while Code 62 exports increased by 31.9 per cent to a value of $2.353 billion.Exports of Code 63 products expanded by 37.7 per cent to $155.69 million those of Code 64 increased by 22.4 per cent to $1.214 billion

According to Ly Kunthai, President, Cambodia Confederation of Investors Association (CCIA) and the Cambodia Footwear Association (CFA), the country’s textile exports began to show positive signs in H2, FY23 after a decline due to the impact of COVID-1.

He attributes this growth to Cambodia's stable political environment, favorable investment laws, skilled labor force, improved transportation infrastructure and a growing number of international buyers.

This growth is also being driven by the government's efforts to encourage foreign investors to invest directly in the country and place orders for Cambodian-made products, he notes.

Lim Heng, Vice-President, Cambodia Chamber of Commerce (CCC), opines,increasing global demand, combined with political instability in other major textile-exporting countries isresulting in increased exports from Cambodia. According to him, a favorable political climate is encouraging foreign financiers to invest in Cambodia’s textile industry.