Cambodia’s Garment Exports Valued at US$3.7 Billion
AKP Phnom Penh, July 10, 2020 —
Cambodia has exported garment products – clothes, footwear, and travel goods – with a total value of US$3.7 billion in the first semester of this year, down 5 percent compared to the same period last year.
The figure was shared by H.E. Heng Sour, Spokesperson of the Ministry of Labour and Vocational Training in a press conference held here recently.
In the function, he explained that the decrease in garment exports was due to the order suspension from the targeted markets caused by the COVID-19 pandemic.
“The main reason of the decline is the impact of COVID-19. Purchasing o dropped globally. The decrase is not only in Cambodia, but also in other garment-producing nations such as Bangladesh and Vietnam,” H.E. Heng Sour said.
Due to COVID-19 pandemic, 450 factories suspended production in the garment, footwear and travel goods sector, and 83 factories were formally closed.
Anyway, H.E. Vongsey Vissoth, Permanent Secretary of State at the Ministry of Economy and Finance claimed that Cambodia’s exports to the international market remained positive.
In the first five months of this year, Cambodia saw growth in the export of non-garment products, he said, stressing that it is a resilient economy.
“Our garment exports, especially to the EU market, dropped but when we look at the total exported products from Cambodia to international markets, we see growth in such as bikes, rice, electronic components and some agricultural raw materials,” H.E. Vongsey Vissoth said.
Cambodia exported US$9.3 billion worth of garment products, footwear and travel goods in 2019, a year-on-year increase of 11 percent, according to a report from the Ministry of Industry, Science, Technology, and Innovation.
By Chea Vannak