In the first five months of this year, Cambodia saw a 20% increase in exports of garments, footwear, and travel goods totaling $4.969 billion. Specifically, apparel and textiles accounted for $3.628 billion, marking a 22% increase compared to the previous year.
According to domestic media outlets, the export of footwear was valued at $615 million, showing a 10% increase year over year, while travel goods saw a value of $726 million with an 18.8% increase year over year. The GFT sector in the country includes 1,680 factories and branches, employing around 918,000 workers, with a majority being female, as reported by the ministry of labour and vocational training.
The country’s foreign trade has seen a significant increase, with a 12% year-on-year growth between January and May reaching a total trade volume of over $21.6 billion. Exports increased by 10.8% to $10.18 billion, while imports grew by 13.6% to $11.4 billion during the same period. The World Bank predicts a marginal improvement in economic growth to 5.8% in 2024, with further increases to 6.1% in 2025 and 6.4% in 2026 driven by GFT exports and tourism recovery.
