Cambodia’s Manufacturing Sector Expands with 2,175 Factories and Over 1.1 Million Jobs

• 1 August 2024
• Uncategorized
• 3037 Views

As of the first half of 2024, the Ministry of Industry, Science, Technology, and Innovation (MISTI) has registered a total of 2,175 manufacturing factories, up from 1,997 in the same period last year. These factories collectively employ about 1.1 million workers, according to a recent report from the National Bank of Cambodia, issued last week on 1 August 2024.

The report projects the manufacturing sector to grow by 7.3 percent in 2024, driven primarily by manufacturing products for export. Notably, exports of garment products rose by 17 percent, while non-garment exports fell by 8 percent. Manufacturing products for the domestic market saw a growth of 6.4 percent.

The manufacturing sector remains the cornerstone of Cambodia’s economic growth and is the largest contributor to the country’s product exports to foreign markets.

• Business and Market
• Economy and Finance