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Garment exports from Cambodia on a rise
27
Jul '11
A rise has been noted in Cambodia's garment exports during the first half of the current year, which registering a year-on-year rise of 32 percent grew to US$ 1.858 billion, as per the statistics released by the Ministry of Commerce.

Such rise in exports is mainly attributable to soaring demand from the European and Asian buyers and the relaxed Rules of Origin (RoO) which facilitate zero-duty exports to the EU.

The US was the biggest importer of garments from Cambodia during the six-month period with imports worth US$ 960 million, registering a 17 percent rise compared to the corresponding period last year.

Meanwhile, exports to Europe rose by 54 percent to US$ 532 million, while those to Japan, Canada and Korea rose by 49 percent to US$ 366 million. The demand from the EU markets has grown, though some of the European nations are still experiencing financial crunch.

Experts feel that the US economy is on the recovery path after the global economic crisis, and as the situation improves further, the demand for Cambodia's goods will rise. They also see some of the EU and Asian countries as strong markets for the Cambodian garment industry. It is because the income of people in these countries is expected to rise, generating a demand for goods.

Fibre2fashion News Desk - India

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