Cambodia's footwear and related product revenue from exports reached approximately $1 billion in the first nine months of 2023, a 25.1% decrease from the $1.32 billion achieved during the same period last year. The decline is attributed to external global economic pressures rather than domestic factors. Footwear and allied products were exported for $991.77 million or 5.9% of the nation's total export value. However, new investments authorized by the Council for the Development of Cambodia encourage an increase in production capacity. There is hope for a recovery in orders, and the decline is predicted to progressively deteriorate at the end of 2023 and into 2024.

Reference: Hin, P. (2023, November 07). Footwear export revenue sees decline. Phnom Penh Post. Retrieved from:https://www.phnompenhpost.com/business/footwear-export-revenue-sees-decline