PHNOM PENH: Cambodia exported US$2,941 million worth of garment, footwear and travel products (GFTs) to international markets in the first quarter of 2024, up 20 per cent from $2,449 million over the same period last year, said a report released by the Ministry of Commerce on Friday (April 12).
Apparel and textiles accounted for $2,167 million during the January-March period this year, marking an increase of 23 per cent from 1,759 million dollars over the same period last year, the report said.
Footwear represented 346.3 million dollars, up 6.9 per cent from $323.7 million, while travel goods absorbed $427.9 million, up 16.6 per cent from $366.7 million, the report added.
Speaking at a press conference on Cambodia's economic outlook for 2024 on Thursday, Poullang Doung, Asian Development Bank-Cambodia's senior economics officer, said the GFT sector will partly contribute to Cambodia's economic growth this year, which was projected at 5.8 per cent.
He said the outlook for the GFT exports is "positive" and that the GFT exports have gained momentum since the last quarter of 2023.
The GFT industry is the biggest foreign exchange earner for the country.
The sector currently consists of roughly 1,680 factories and branches, employing some 918,000 workers, mostly female, according to the Ministry of Labour and Vocational Training. - Xinhua
