Cambodian garment exports drops to 2.6 bln USD in 2009

via CAAI News Media

Tuesday, February 23, 2010

HNOM PENH, Feb. 23, 2010 (Xinhua News Agency) -- The total value of garment, textiles and shoes exported last year dropped to 2.6 billion U.S. dollars compared with 3.1 billion U.S. dollars in 2008 as a result of global financial downturn, according to the figures of Commerce Ministry on Tuesday.

It said the total exports to the United States, which is Cambodia's biggest garment market, reached 1.5 billion U.S. dollars last year, down from 1.9 billion U.S. dollars in 2008.

The country's Garment Manufacturers Association of Cambodia ( GMAC) officials would not see the industry to pick up this year.

Kaing Monika, GMAC's spokesman, said "the international financial crisis has greatly impacted us, especially for our garment exports to the U.S. market."

"It is too early to say if exports of the products will increase for this year given the purchasing orders from overseas reserve for exports till June, not through out this year," he said.

The products exported to the EU also dropped to 718 million U.S. dollars last year from 786 million U.S. dollars in 2008, said the report.

The total value of exports to Canada also lowered to 190 million U.S. dollars in 2009 from 202 million U.S. dollars in 2008.

Exporting of the products to Japan and other Asian countries increased to 233 million U.S. dollars last year from 178 million U. S. dollars in 2008, it said.

(Source: iStockAnalyst )