PHNOM PENH: Cambodia’s economy demonstrated significant growth in 2024, driven by a surge in exports across key sectors. According to a report from the Ministry of Commerce, the country’s exports of garments, footwear, and travel goods (GFT) soared by 23%, reaching a total of US$13.92 billion.
Garment exports led the charge, increasing by 24% to US$9.79 billion, while footwear exports rose 23% to US$1.68 billion. Travel goods exports also saw robust growth, jumping 19.6% to US$1.95 billion.
This strong performance was attributed to rising global demand for Cambodian products, particularly in the apparel and textile sector.
Furthermore, Cambodia’s trade with other ASEAN member states expanded significantly, reaching US$15.69 billion, a 12.4% increase from the previous year.
Exports to ASEAN countries rose 7.6% to US$5.07 billion, while imports from ASEAN countries increased 14.8% to US$10.62 billion. ASEAN accounted for 28.3% of Cambodia’s total trade volume in 2024.
These positive developments highlight the strength of the Cambodian economy and its growing integration within the ASEAN region. The GFT sector continues to be a major driver of economic growth, providing employment opportunities for a significant portion of the workforce, particularly women.