Login Register

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

| Publication date 07 June 2010 | 08:00 ICT

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

  • Chinese group tours return to Cambodia starting Feb 6

    Cambodia is among 20 countries selected by Beijing for a pilot programme allowing travel agencies to provide international group tours as well as flight and hotel packages to Chinese citizens, following a three-year ban. As the days tick down until the programme kicks off on February 6,

  • Capital-Poipet express rail project making headway

    The preliminary results of a feasibility study to upgrade the Phnom Penh-Poipet railway into Cambodia’s first express railway indicate that the project would cost more than $4 billion and would take around four years to complete. The study was carried out by China Road and

  • Thai boxers to join SEA Games’ Kun Khmer event

    The Cambodian SEA Games Organising Committee (CAMSOC) – together with the Kun Khmer International Federation (KKIF) and Khmer Boxing Federation – have achieved a “great success” by including Kun Khmer in the upcoming biennial multi-sports event on its home soil for the first time, said a senior

  • Bullets to bracelets: Siem Reap man makes waste from war wearable

    Jewellery is often made from valuable gemstones like emeralds or diamonds and precious metals like gold or silver, or valueless things like animal horns. But a man in Siem Reap has approached the manufacture of delicate pieces from a different angle. His unique form of

  • 61% of 2022 imports came from just 3 markets

    The three largest exporters to Cambodia – mainland China, Vietnam and Thailand – accounted for 60.94 per cent of the Kingdom’s total merchandise imports last year, at $18.245 billion, which was up 11.99 per cent over 2021, according to the General Department of Customs and Excise. Cambodia’s total imports

  • CPP sets out five primary strategic goals for 2023-28

    The Cambodian People’s Party (CPP) on January 29 concluded its two-day extraordinary congress, setting the party’s priority goals for 2023-2028. The ruling party’s congress was attended by more than 3,000 members from across the Kingdom, including the members of the permanent and central committees,

Related articles