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Cambodia's economy dependent on garment sector – Report
16
Mar '12
The garment and textile industry in Cambodia is significantly contributing to the country's economy and can be stated as the backbone of the Cambodian economy, according to a report.

The 309 garments and textile firms in Cambodia employed around 335,400 workers at the end of 2011, with 91 percent of them being women, a Ministry of Commerce report stated.

According to the report, the industry paid out US$ 408 million in worker's salaries during last year.

Registering a year-on-year rise of 25 percent, Cambodia's garment sector, the country's largest revenue generating industry, exported goods worth US$ 4.24 billion in 2011. This, according to the report, constituted around 85 percent of the country's overall exports.

The US and the EU are major export destinations for Cambodian garments. Export to US grew by 11 percent to US$ 2.05 billion during last year, while that to European nations grew by 42 percent to US$ 1.3 billion, the report stated.

Fibre2fashion News Desk - India

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