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Tuesday, 28 February 2023 10:31

Cambodia turns to neighboring countries for exports in 2022

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Cambodia's apparel exports to neighboring countries such as Thailand, Singapore, and Malaysia have seen impressive growth, with shipments to Thailand and Malaysia increasing by more than 40 per cent in 2022, while Singapore registered a mild growth. This growth in neighboring countries has compensated for slower shipments to the West.

In particular, Cambodia's apparel exports to Thailand have recovered in 2022, reaching $57.604 million, up from $41.010 million in 2021. However, exports to Singapore experienced a downward trend in 2021, falling to $50.700 million from $156.221 million in 2020, before recovering to $51.625 million in 2022. Similarly, exports to Malaysia registered negative growth since 2019, but in 2022, they increased to $50.435 million until November, a 50 per cent increase from the previous year.

Cambodia's apparel exports to neighboring countries have been inconsistent in recent years, with fluctuations in growth and decline. However, the significant growth in 2022 in Thailand and Malaysia is a positive sign for Cambodia's apparel export industry, which can benefit from focusing on neighboring markets.