Cambodia’s non-garment exports suffer solar burn

Cambodia’s non-garment exports suffer solar burn

Solar panel exports experienced a sharp decline during January-September 2025, plunging nearly 100 percent to $6 million from $828 million in the same period last year.

The total collapse of solar panel exports owing to 3,500 percent tariffs slapped by the US has made the Kingdom’s non-garment exports look flat, despite the numbers for electronic goods, bicycles and vehicle parts showing substantial growth in the first nine months of the year.

The total value of non-garment exports in the period stood at $2.77 billion, a little more than $2.72 billion in 2024 on a year-on-year basis.

The rise in exports of non-garments excluding solar panels reflects the fact that the Royal Government’s efforts to diversify the manufacturing base of the country has yielded the best results.

Cambodia’s export of electronic goods and parts rose sharply during the first nine months of this year, according to the latest data from the Ministry of Commerce.

Between January and September, exports of electronic goods and parts reached $659 million, marking a 31.64 percent increase compared to the same period last year.

Electric cable and wire exports led the growth, soaring 66.34 percent to $423 million, while exports of bicycles and bicycle parts jumped 43 percent and 97 percent, reaching $448 million and $53 million, respectively.

Vehicle parts exports rose 7.64 percent to $209 million, and car tyre exports climbed 58 percent to $971 million, the report highlighted.

However, solar panel exports experienced a sharp decline, plunging nearly 100 percent to $6 million, down from $828 million in the same period last year.

The ministry noted that most non-garment products are produced in special economic zones (SEZs), with key export markets including the EU, the US, Japan, Korea, and Thailand.

Penn Sovicheat, Secretary of State and spokesman for the Ministry of Commerce, said the strong performance of non-garment exports underscores Cambodia’s growing manufacturing competitiveness.

“While garments remain important, the increasing prominence of other manufacturing sectors is proof of our successful economic diversification, leading to a more stable and sustainable future,” Sovicheat told Khmer Times.

According to the Council for the Development of Cambodia (CDC), the country approved 546 new investment projects worth $7.8 billion in the first half of 2025.

Of that total, nearly 68 percent, or $5.3 billion, was invested in the manufacturing sector.

The CDC added that these projects primarily target garment and non-garment manufacturing, infrastructure, agriculture and agro-industry, and tourism, reinforcing Cambodia’s strategy to diversify its economy and attract more high-value investment.

Cambodia exported products worth about $22.39 billion in the first nine months of 2025, up 12.9 percent from 19.83 billion dollars over the same period last year.

The top five export destinations are the US, Vietnam, China, Japan, and Canada. Garments dominated the total export numbers as usual.

Meanwhile, the Kingdom recorded the total import of $24.61 billion during the same period this year, up 16.6 percent from $21.1 billion dollars.

Main imported items included oil and gas, raw materials for garments, footwear, bags and travel goods, vehicles, machinery, electronic appliances, pharmaceutical products, and consuming goods, it added.

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