Cambodia’s exports consolidate growth
According to the Cambodia Garment and Footwear Sector Bulletin issued by the International Labour Organization, exports of garment and footwear grew by 9.5% in 2017. Growth trend was consolidated in the first semester of 2018 (+11%)
Cambodia’s General Department of Customs and Excise (GDCE) reported a positive outcome for the garment and footwear sector during the full year of 2017. The value of the sector’s exports grew by 9.5% year on year from 2016, reaching 8 020 million US dollars. In volume terms, 2017 saw the sector experience an increase of 10%, approximately 0.5 percentage points higher than the growth in value.
Footwear continued to grow in importance, with exports growing by 14.4% totaling 873 million US dollars for the whole year.
The garment and footwear sector remains the most important component of Cambodia’s exports, accounting for 72% of the country’s total merchandise exports for 2017.
A new report recently released by the National Bank of Cambodia (NBC), indicates growth continued in the first half of the year. The country’s garment and footwear exports rose to 4 billion US dollars in the first six months of 2018. This resulted in an increase of 11% and almost doubled the 6.9% rise recorded in the same period of the previous year.
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