Logo of Phnom Penh Post newspaper Phnom Penh Post - Short Story: Exports drop on eurozone debt crisis

Short Story: Exports drop on eurozone debt crisis

Short Story: Exports drop on eurozone debt crisis

Cambodia’s exports declined by 18 percent in April compared with the month previous due to economic spillover from the Greek sovereign debt crisis, the Ministry of Commerce said. The domestic garment sector was slowed by falling European consumption in April caused by Greece’s woes, Department of Statistics and Information director Kong Putheara said. “Many neighbouring European countries were impacted by the Greek crisis, lowering people’s demand and drawing our total exports down,” he said. Of April’s US$198 million in total exports, $175 million were garment products, according to Ministry of Commerce statistics. Garment exports to the European Union declined by 18 percent in April, along with a 3 percent fall in shipments to the US and a 33 percent drop to other markets, its figures show. However, year-on-year exports rebounded 9.48 percent from $181 million in April 2009. Kong Putheara said overall positive trends for the Kingdom’s exports as a recovering global economy caused an increase in demand. “People [in international markets] are starting to gets jobs, so they have money to afford our products,” he said.

MOST VIEWED

  • Diplomatic passports issued to foreigners to be annulled

    The Ministry of Foreign Affairs and International Cooperation will move to annul diplomatic passports issued to those not born in Cambodia. Analysts say the move may be in relation to reports that former Thai prime minister Yingluck Shinawatra used a Cambodian passport to register as

  • Hun Sen warns Irish MP of EBA ‘mistake’

    Prime Minister Hun Sen on Saturday told former Irish premier Enda Kenny, still a member of the EU nation’s parliament, that the 28-nation bloc should not make a “third mistake” regarding Cambodia by using the preferential Everything But Arms (EBA) agreement to “take 16 million

  • The hairy little heroes saving many lives in rural Cambodia

    IN RURAL Siem Reap province, rats dare to tread where no person will, as these hairy little heroes place their lives on the line each day for the good of the local community. The rodents are the most important members of a special team, leading

  • PM warns EU and opposition on 34th anniversary of his rule

    HUN Sen reached the milestone of 34 years as Cambodian prime minister on Monday and used the groundbreaking ceremony for a new ring road around Phnom Penh to tell the international community that putting sanctions on the Kingdom meant killing the opposition. “Please don’t forget