Cambodian garment industry remains wary despite export growth

13:09, May 10, 2010      

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Cambodian garment and apparel exports have increased 7.24 percent for the first quarter of 2010 compared with the same period last year, but remain below the pre- crisis levels of the first quarter in 2008, local media reported on Monday, citing the figures from the Ministry of Commerce.

Ministry of Commerce (MoC) figures value Cambodia's garment and apparel exports for the first quarter at 671 million U.S. dollars, up from 626 million U.S. dollars for the same quarter last year, the Phnom Penh Post reported.

According to a country by country breakdown, exports to the U.S. market went up 4.13 percent - from 395 million U.S. dollars to 411 million U.S. dollars - while the EU markets saw a 7.32 percent increase, and other foreign markets were up 20.12 percent.

Garment Manufacturers Association in Cambodia (GMAC) Secretary General Ken Loo was restrained in his response to the new figures, emphasising that the increase was from "the very low level of 2009 ", the Post said.

But MoC Secretary of State Ok Boung was more optimistic, saying he believed the sector would continue to recover thanks primarily to an improved economic outlook in the U.S., the biggest market for Cambodia's garment industry.

Total garment export dramatically fell more than 20 percent to 626 million U.S. dollars in the first quarter of last year, from 784 million U.S. dollars for the same period in 2008, according to MoC data.

Overall, the year 2009 saw Cambodia's garment and apparel exports sliced by 15.46 percent compared with 2008.

Source:Xinhua

(Editor:黄蓓蓓)

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