Handicraft exports to international markets, especially shipments to Europe, had plummeted this year as disposable incomes in Western economies shrank, industry insiders said yesterday.
Lun Yeng, executive director of the Federation of Associations of Small and Medium-Sized Enterprises of Cambodia, said handicraft exports had dropped by as much as 70 per cent, primarily because Europeans had stopped spending on non-essential items.
Cambodian Craft Co-operation director Seung Kimyonn said silk exports to Europe had frozen this year.
In 2011, some orders for silk were worth as much as US$100,000, but there had been no orders this year, he said.
“For a few months, it has been silent.”
To contact the reporter on this story: Rann Reuy at [email protected]