year, a year-on-year increase of 14.5 percent, the report said, adding that garments worth 8 billion dollars were shipped to international markets, up 23.6 percent.
The report added that $1.33 billion worth of footwear was exported, up 22 percent, while travel goods equivalent to $1.69 billion were sold to the international market, up 20.6 percent.
Hoe Ee Khor, chief economist of the ASEAN+3 Macroeconomic Research Office (AMRO), said the garments, footwear, and travel goods (GFT) sector remained one of the major drivers for Cambodia’s economic growth.
“Growth in the GFT sector is projected to rebound steadily in 2024, driven by stronger demand for consumer goods in major advanced markets,” he wrote to Xinhua in a recent e-mail.
The GFT industry is the largest foreign exchange earner in Southeast Asian countries.
According to the Ministry of Labor and Vocational Training’s latest report, the sector currently consists of about 1,538 factories and branches, employing approximately 913,000 workers, mostly female. Xinhua
