Logo of Phnom Penh Post newspaper Phnom Penh Post - Exports up 20% in H1 on Europe purchases

Exports up 20% in H1 on Europe purchases

Exports up 20% in H1 on Europe purchases

Cambodian exports saw a nearly 20 per cent increase for the first half of the year, as garment shipments to the European Union led the way in making up for a decrease in exports to the United States, according to a new Ministry of Commerce report.

The report shows that outbound shipments from Cambodia brought in $3.9 billion for the first six months, as compared to the $3.28 billion reported for the same period in 2014. The rise was buoyed by a 32 per cent increase in garments to the European Union, not including textiles and footwear.

“Cambodian exports to the EU are free. So for the last few years, the EU market has been number one for Cambodia’s garment and there is a change of market,” said Ho Sivyong, director of the Export-Import Department.

According to Sivyong, political stability and fewer garment-worker strikes this year are two of the reasons for increased purchases by EU buyers Garment exports to the Kingdom’s other major export destination, the United States, saw a small fall of 7 per cent to $856 million in the first half of the year, with textiles registering a more than 40 per cent drop.

“We’ve tried to negotiate with the US about the export tariffs – making it free like EU – but they were not very interested because our market is small,” Sivyong added.

Rice, another key export product for Cambodia, saw a 22 per cent rise to the EU market on account of the its Everything But Arms policy, which allows imports from least developed countries to enter duty- and quota-free. Rice shipments to the US, which does not offer this privilege, dropped by almost 60 per cent.

MOST VIEWED

  • Draft law on state of emergency pending finalisation

    Prime Minister Hun Sen will lead a top-level meeting on Tuesdays to review the draft law on imposing a state of emergency. Meantime, he has decided to close all casinos in Cambodia effective April 1. In the press conference after the National Assembly met today, Hun

  • State of emergency on table amid pandemic

    Prime Minister Hun Sen, his deputy prime ministers and legal team will meet on Tuesday to review the draft law on declaring a state of emergency, as Covid-19 cases rose to 107 in the Kingdom on Monday. Speaking at a press conference after a parliament meeting

  • No word on state of emergency

    The National Assembly (NA) said it will postpone all unnecessary meetings in line with guidance from the Ministry of Health and the World Health Organisation (WHO) amid the Covid-19 pandemic. However, it did not say when or how it will debate the “state of emergency”

  • Many in limbo as tension heightens

    As the Kingdom restricts travel and prepares for a state of emergency, some foreigners in Cambodia are scrambling for a way home. Foreign embassies in Phnom Penh are making efforts to get their citizens out, but cancelled flights have become common due to the coronavirus

  • State of emergency draft law set for NA

    A draft law aiming to place the Kingdom in a state of emergency amid the Covid-19 pandemic is set for a debate at the National Assembly (NA) after going through the Council of Ministers’ Standing Committee meeting led by Prime Minister Hun Sen on Tuesday.

  • Hun Sen, ministers, officials donate salaries in virus fight

    Prime Minister Hun Sen and other senior government officials have decided to donate their salaries to the National Committee for Combating Covid-19 in support of the ongoing battle against the coronavirus. Hun Sen announced in an April 1 letter that because the Covid-19 situation in Cambodia