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Garment exports rise steeply in 2010
04
Jan '11
Resumption in the garment exports to a great extent has aided the growth of Cambodia's economy during 2010. The country's economy registered a growth of five percent during the year, while the growth in the garment exports is likely to continue in 2011 also.

Increase in the garment exports and rise in the number of tourists visiting the country helped the country to grow by over five percent during 2010, following the 2009's GDP growth rate of 0.1 percent.

Riding on the back of economic revival in the European and US nations, Cambodia's garment exports grew by around 20 percent during 2010.

As per the general opinion, there are positive outlooks for the country in 2011, as it is likely to benefit from the European Union's Everything But Arms initiative, whereby some of the underdeveloped countries are allowed to export some of their products duty-free to the EU.

Fibre2fashion News Desk - India

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