Home / Knowledge / News / Apparel/Garments / Sluggish garment exports to result in lower economic growth
Sluggish garment exports to result in lower economic growth
09
Jun '08
Despite a strong economic performance by the various industrial and agricultural sectors of Cambodia, the pace of growth is anticipated to be lower than the previous year.

Economic growth of the country this year is expected to hover near 7 percent which is noticeably low compared to the 10 percent secured in 2007.

Experts have opined that the drop in economic growth can be attributed to the slow growth in the garment sector which is presently facing immense problems due to global market turmoil.

Garment exports have deteriorated considerably due to a decline in international demand and stiff regional competition. Export growth, especially to the US, began to slow in late 2007 accompanied by stiffer competition from Vietnam.

This has made a huge impact on the overall economy of Cambodia since the garment sector is one of the major contributors to the country's gross domestic product with around 300 factories and over 340,000 workers making exports worth US $2.9 billion last year.

An International Monetary Fund staff mission recently visited Cambodia from May 28 to June 5 for holding discussions with Governmental officials on macroeconomic developments and policies. It is hoped that with a change in policies and infrastructures would help give a thrust to the soggy exports of the country.

Must ReadView All

Textiles | On 7th Dec 2016

New Texprocil chairman bats for increased UPI adoption

Ujwal Lahoti, the new Cotton Textile Export Promotion Council...

RBI Governor Urjit Patel addressing a press conference. Courtesy: Youtube

Textiles | On 7th Dec 2016

Defying expectations, RBI keeps repo rate unchanged

Defying market expectations, the Monetary Policy Committee (MPC) of...

The new OJ 59/1 B. Courtesy: Karl Mayer

Textiles | On 7th Dec 2016

Karl Mayer unveils new LACE.EXPRESS model for apparel

Germany’s leading textile machinery firm, Karl Mayer, has launched a...

Interviews View All

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search