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Apparel exports record worst ever month in 2009
27 Aug '09
1 min read
Despite other textile and apparel exporting countries like China and Vietnam reporting a surge in orders from overseas markets, garment exporters in Cambodia have registered an awesome negative growth of 26.4 percent, year-on-year in July.
Shipments from the apparel sector had also dipped by 17.5 percent in June. Exports fell from US $339 million in July 2008 to $249 million in the previous month, which indicates that export sector has a long way to go before the worst is over.
The clothing export sector accounts for 90 percent of overall exports from the country and is also the biggest employment generator in the country. Experts aver that, if this situation persists, it will be disastrous for the economy.
The Ministry of Cambodia had recently reported that shipments from the apparel sector to overseas markets had fallen from $1.54 billion in the first half of 2008 to $1.27 billion in the corresponding period of 2009, a dip of 18 percent.
Shipments from the apparel sector had also dipped by 17.5 percent in June. Exports fell from US $339 million in July 2008 to $249 million in the previous month, which indicates that export sector has a long way to go before the worst is over.
The clothing export sector accounts for 90 percent of overall exports from the country and is also the biggest employment generator in the country. Experts aver that, if this situation persists, it will be disastrous for the economy.
The Ministry of Cambodia had recently reported that shipments from the apparel sector to overseas markets had fallen from $1.54 billion in the first half of 2008 to $1.27 billion in the corresponding period of 2009, a dip of 18 percent.
Fibre2fashion News Desk - India
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