Cambodia’s manufacturing output was valued at US$7.57 billion in the first semester of this year, a 75 percent increase compared to the same period last year.
The figures were released by the Ministry of Industry, Science, Technology, and Innovation in a press conference held here on Thursday by the Royal Government Spokesperson Unit.
Of the total manufacturing output, some US$5.26 billion worth of products were exported and the rest were sold domestically.
The Kingdom has in total 1,947 active factories as of July with a total investment value of US$15 billion, the ministry’s report showed, pointing out that those factories create a million jobs for local people.
The manufacturing sector is estimated to contribute 39.9 percent to the Gross Domestic Product (GDP) in 2022, said the ministry’s Secretary of State and Spokesperson H.E. Heng Sokkung.
“The manufacturing sector plays a key role in driving the country’s GDP,” he underlined in the press conference.
“Despite the COVID-19 crisis, the manufacturing sector has moderately increased, reflecting the high demand of Cambodia’s products in the main markets – US and the EU,” he noted.
With new markets under the regional trade pact – RCEP and Cambodia-China Free Trade Agreement, more Cambodia-made manufacturing products are expected to see the growth in export, he said.
The garment, footwear and travel goods industry is the largest foreign exchange earner for Cambodia.
Source: Agency Kampuchea Press