Posts Tagged ‘Garment industry’

Cambodian garment exports increased 11 percent

Posted by admin on June 9th, 2010

In the first five months of 2010, Cambodia’s garment and textile exports increased over 11 percent because of a recovery in foreign purchasing power as global markets continued improving from the global financial crisis.

Sok Sopheak , MoC foreign trade director general, was quoted by the Post as saying that sector growth was the result of recovering economies in foreign countries and government attempts to link suppliers with foreign buyers.

According to statistics from the Ministry of Commerce, Cambodia exported $1.062 billion in garments in the period. From January to May 2009, the export rose $953 million.

Sok Sopheak added that “we have made it more convenient for garment suppliers by cutting down on unnecessary procedures and paperwork”. “This is the internal factor for growing exports, and the external factor is the recovery of the global economy.”

Kang Chandararot, Cambodia Institute for Development Study President said that “many garment factories who survived the low demand caused by the crisis last year are now strong and competitive as the sector recovers, but those who ran away lost their chance to turn a profit.”

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Transportation through Phnom Penh Autonomous Port increased 40 percent

Posted by admin on June 3rd, 2010

The traffic of Phnom Penh Autonomous Port increased 40.4 percent during the first five months of 2010, compared with the same period of last year. The increased is driven by activities of main sectors in Cambodian economy such as garment industry and agriculture sector.

Eang Veng Sun, the Phnom Penh Autonomous Port’s deputy director general, was quoted by the Phnom Penh Post as saying that “we hope shipments this year will increase more than last year because the economy has been recovering significantly,”

Statistics from Port show that some 20,997 TEUs (20-foot equivalent units) were transported through the capital’s port in the five months through May, compared to 14,964 TEUs last year.

Month-to-month increases were also recorded, with 4,783 TEUs shipped in May, compared to 4,207 in April, the statistics showed.

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Economy Undergoing a Rebound: ADB

Posted by admin on April 24th, 2010

The Asian Development Bank said Tuesday it expects an economic rebound for Cambodia in 2010, with growth moving from 4.5 percent this year to 6 percent in 2011.

The recovery was driven by the country’s main economic pillars: agriculture, construction, garments and tourism, ADB officials said Tuesday, as they released the bank’s economic outlook for the year.

“Garments, tourism and construction have all apparently turned the corner in the first quarter of this year,” Eric Sidgwick, a senior economist at the ADB, told reporters. “And if there are further improvements in irrigation, seed and fertilizer use, one could hope that agricultural production could be a bit higher this year than last year. So the prospects of the year look good.”

Garments were boosted by an increase in US retail market demand in the first quarter of the year, while tourist arrivals for the same period increased, especially with visitors from China and South Korea. The recoveries of the economies in Asia are expected to bolster Cambodia’s construction sector, as more investors return after the global downturn. (more…)

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Cambodia’s textile decreased 21 percent

Posted by admin on November 18th, 2009

The global economic recession is still plaguing Cambodia’s garment industries, which is the nation’s main revenues and created jobs for Cambodian people from different provinces. During the last 9 months from January to September 2009, garment export decreased 21.66 percent, compared with the same period of 2008.

The Ministry of Commerce released data; it shows that the nine months of 2009, garment exported to the US and EU dropped by 28.7 percent and 7.46 percent respectively in the earlier 9 months of 2009.

The total garment exports for the period are valued at US$1.97 billion.

Decline in garment export is because of the world economic recession pushing for low demand for garments from USA and EU, where are the main international market for Cambodia’s textile productivities.

30,000 workers lost their jobs and 77 garment factories closed in the first three quarters of 2009. In addition, 53 factories suspended their operations in this period.

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