Logo of Phnom Penh Post newspaper Phnom Penh Post - Sunny skies ahead as garment exports up 11.4%

Sunny skies ahead as garment exports up 11.4%

Content image - Phnom Penh Post
Cambodia exported $9.50171 billion worth of garments – including apparel, footwear and bags – in 2020, marking a 10.44 per cent plunge compared to $10.60986 billion in 2019, according to the Ministry of Commerce. Hong Menea

Sunny skies ahead as garment exports up 11.4%

Cambodia shipped $8.2417 billion worth of garments abroad in January-September, surging by $843.4 million or 11.40 per cent over the same period last year, according to the General Department of Customs and Excise.

This is despite the February 20 community outbreak of SARS-CoV-2 – the coronavirus that causes Covid-19 – and the ensuing lockdowns that have precipitated fundamental disruptions in production chains.

Garment Manufacturers Association in Cambodia secretary-general Ken Loo recently told The Post that orders for garments have managed to avoid sliding into negative territory despite Covid.

Of note, the Kingdom has been gaining market share from competing producing countries that are facing unprecedented challenges arising from political issues and Covid-19 ramifications.

“This year we are lucky to receive some orders shifted from Myanmar. We should have grown bigger if there hadn’t been a February 20 community outbreak,” Loo lamented.

Hong Vanak, director of International Economics at the Royal Academy of Cambodia, said the uptick in garment exports augurs well for economic activity in the Kingdom, as other countries reel under the severe conditions wrought by Covid-19.

He described this upswing as a “very good reflection” of government measures adopted to “prop up our country’s economic growth”.

Cambodia has remained an alluring regional investment destination, largely buoyed by a slew of economic reforms drawn up to facilitate trade and attract investment, he said.

Chief among these were bilateral and multilateral free trade agreements (FTA) which improve access to more markets, investment laws and e-commerce registration systems, he noted.

He said the government is also striving to streamline the local investment and business environment to instil confidence among businesspeople and investors amid expanding market access to a range of countries.

The FTAs with China, South Korea and other markets, in particular, will make Cambodia a better investment destination, he underlined.

"I am still optimistic that improvements in garment exports will clearly demonstrate that our country is still able to export despite the spread of Covid-19," Vanak said, highlighting that the corresponding exports of other countries had recorded year-on-year declines.

Cambodia exported $9.50171 billion worth of garments – including apparel, footwear and bags – in 2020, marking a 10.44 per cent plunge compared to $10.60986 billion in 2019, according to the Ministry of Commerce.

MOST VIEWED

  • Second Hungary business forum set for H2

    Cambodia has asked Hungary to provide GSP- (Generalised System of Preferences) Plus facilities for when the Kingdom sheds its least-developed country (LDC) label, as the two countries prepare to hold a second business forum in the second half (H2) of this year to expand trade

  • 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,

  • Nearly 50 states join Kun Khmer Federation, all set for training

    In a little over a week, the Kun Khmer International Federation (KKIF) has accepted membership requests from 20 new nations, in addition to the exiting 29. The sudden influx of international recognition stems from the Kingdom’s successful introduction of Kun Khmer to the 32nd Souheast Asian (