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Cambodia sees 20 pct rise in export of garments, footwear, travel goods in first 5 months

Jun 09, 2024

Phnom Penh [Cambodia], June 9: Cambodia exported 4,969 million U.S. dollars worth of garments, footwear and travel goods (GFTs) in the first five months of 2024, up 20 percent from 4,129 million dollars over the same period last year, said a Ministry of Commerce's report released on Sunday.
Apparel and textiles accounted for 3,628 million dollars during the January-May period this year, up 22 percent from 2,960 million dollars over the same period last year, the report said.
Footwear represented 615 million dollars, up 10 percent from 558 million dollars, while travel goods absorbed 726 million dollars, up 18.8 percent from 611 million dollars, the report added.
The World Bank said in its economic update released on Thursday that the GFT sector would be one of the key contributors to Cambodia's economic growth this year, which was predicted at 5.8 percent.
"Exports of garments, travel goods, and footwear rebounded, while non-garment exports, especially of agricultural commodities, remained resilient," the World Bank said.
The GFT industry is the largest foreign exchange earner for the Southeast Asian country.
The sector currently consists of around 1,680 factories and branches, employing approximately 918,000 workers, mostly female, according to the Ministry of Labor and Vocational Training.
Source: Xinhua