Cambodia's footwear export value reached 1.3 billion USD in the first 10 months of 2024
Xuzhou Hoffen Chemicals Co., Ltd. 2024-11-21 15:21:15
According to a press release from the Cambodia Footwear Association (CFA), Cambodia's total footwear export value reached 1.332 billion USD from January to October this year, a 22.3% increase compared to 1.089 billion USD in the same period last year. In October, the footwear export value was 117.95 million USD, which was approximately 5% lower than in September, but a 21.1% increase compared to October 2023.
At the CFA annual meeting in October, Ly Kunthai, president of the Cambodia Footwear Association and the Cambodia Investor Association (CCIA), highlighted the significant progress made by the country's footwear industry. He mentioned that exports had been growing steadily in recent months and, although final year-end data has not been released, he expects the export volume to continue increasing in the coming months. “This growth is attributed to the favorable investment environment of recent years, supported by the Cambodian government's proactive policies,” he explained.
Ly Kunthai added that the government and the private sector worked together to create a favorable investment environment, attracting more investors. Cambodia's footwear industry produces products for international brands such as Adidas, Clarks, and Timberland.
He also pointed out, "The Cambodia Footwear Association has played a crucial role in attracting foreign investors and encouraging local entrepreneurs to expand production capacity, which has driven the growth of footwear exports."
On November 18, Hong Vanak, an economist from the Royal Academy of Cambodia, told The Post in an interview that the global economic and tourism recovery over the past year had driven demand growth for products in the apparel and footwear industries (including clothing, shoes, socks, and travel bags). If the global economy continues to improve, order volumes may significantly increase.
Hong Vanak stated, "Currently, Cambodia has several footwear factories, with more under construction. Cambodia is becoming a hub for high-quality footwear production for several global brands, and it is expected that the export volume of these products will see a significant increase in the near future."
Source: Cambodia Footwear Association (CFA), November 21, 2024
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