A positive trend has been witnessed in garment and textile exports from Cambodia, till October this year. The Kingdom's garment and textile exports, with a year-on-year rise of over 30 percent equalling to US$ 880 million, surged to US$ 3.47 billion, the Ministry of Commerce figures revealed.
As stated by the Ministry officials, garments continue to be in demand in the European Union and in the United States in spite of the two western economies being confronted with economic downturn and sovereign debt crisis. Being low-priced is a key factor which has helped in sustenance of the Kingdom's garment and textiles industry.
Kong Putheara, Director of the Commerce Ministry's Department of Statistics said the Kingdom's garment and textile industry caters to the needs of ordinary low and medium income group people, and added that though earnings of people in this class was slightly hit by the debt crisis, the low-cost of products have helped to sustain the buying power of this class.
Besides the Western markets, which are the leading export destinations for Cambodian garments and textiles, present export growth is also attributable to rise in exports to other markets like China, he added.
While garment exports to the US grew by 16 percent to US$ 1.74 billion during January to October period, exports to the European nations grew by 59 percent to US$ 1.03 billion.
Fibre2fashion News Desk - India
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