CAMBODIA’S exports rose almost 25 percent in the first 11 months this year compared with the same period in 2009, according to government statistics.
It’s a growth trend that is likely to accelerate, says Sok Sopheak, director general of the Ministry of Commerce.
Official figures from the Ministry show exports increased 24 percent to US$3.16 billion between January and November from $2.55 billion last year.
Sok Sopheak said the Kingdom’s exports were boosted partly by political tensions between some regional exporters and the West, as well as the easing of export rules on garments and textiles into the European Union.
“In the last few months, our garment and textile exports dramatically increased as many neighbouring countries had some political issues with the US or EU – mainly China, and Korea,” he said. “As their exports to these countries tightened, investors who had production operations in our country boosted their production here, making us the more preferred country [to import from].”
“I hope that our export will keep growing, especially to the European Union markets from now [on] because we can more easily export to them,” he said, referring to reduced red-tape for exports to the region.
The Kingdom’s total imports also increased, reaching $4.28 billion in the 11-month period from $3.58 billion for the same time period last year.
Sok Sopheak Cambodia was exporting more garments, rice, bicycles and other machine accessories. And, it had imported more textiles, machinery, car parts and fertilizers.