Cambodia’s Gross Domestic Product (GDP) from GFT (Goods for Trade) exports is expected to exhibit significant growth in the year 2024
Cambodia’s Gross Domestic Product (GDP) from GFT (Goods for Trade) exports is expected to exhibit significant growth in the year 2024
Cambodia exported a total of $13.92 billion worth of garments, footwear, and travel goods (GFT) in 2024, marking a significant increase of 23 per cent compared to 2023, according to a report from the Ministry of Commerce.
The report stated that garment exports were valued at $9.79 billion last year, reflecting a year-on-year increase of 24 per cent.
Footwear exports rose by 23 per cent from $1.68 billion, while travel goods exports surged by 19.6 per cent to $1.95 billion, as reported by the same source.
Penn Sovicheat, Secretary of State and Spokesperson at the Ministry of Commerce, attributed this growth to a rise in global demand for apparel and textiles.
“This GFT industry has received purchase orders, demonstrating the quality of our products, which meet the demand in the foreign market,” he stated.
The garment, footwear, and travel goods industry is the Kingdom’s largest foreign exchange earner. The sector currently comprises roughly 1,538 factories and branches, employing nearly 913,000 workers, predominantly female, according to the latest report from the Ministry of Labour and Vocational Training.
