-By Mansi Suryavanshi.
INSIGHTS
- The value of Cambodia’s exports of clothing to Japan increased a year after a year, reaching $1.201 billion in 2022, 8.68% rise.
- A shipping value of $334.145 million in the first quarter of 2023 shows continued growth.
- However, exports of home textiles to Japan have been on the decline and will only be worth $17.327 million in 2022.
After posting a solid gain in 2022, Cambodia’ve garment exports to Japan have continued to increase this year. Over the previous year, exports climbed by 8.68% to $1.201 billion. In the first quarter of the current year, the Cargo was valued at $334.145 million.
However, because of a steady drop during the preceding years, the exports of home textiles to Japan were cut in half.Due to COVID-19’s interference, exports decreased from $1.147 billion in 2019 to $1.043 billion in 2020.
But in 2021, it increased again to $1.105 billion, according to Tex Pro, a market research tool from Fibre2Fashion. In 2018, the shipment was valued at $1.065 billion.
Trade grew quarterly from $280.5544 million in Q4 2022 to $303.040 million in Q1 2022, reaching $334.145 million in Q1, 2023. It demonstrates that the current year’s momentum has not lost.
The Cargo was valued at $380,611, $237,491, and $303,040 in the first quarter of 2022. In Q4, 2021, the export was recorded as $296.524 million.
However, in prior years, Cambodia’s exports of home textiles to Japan have shown a consistent downward tendency.
It gradually decreased by half, from $35.920 million in shipping in 2018 to just $17.327 million in 2022.
According to Tex Pro, the value of Cargo was $33.036 million in 2019, $24.025 million in 2020, and $22.784 million in 2021.
During the first quarter of the current year2023, Cambodia exported home textiles valued $4.626 million.
