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

  • ‘Education’ a priority traffic-law penalty

    A top National Police official on June 21 neither rejected nor confirmed the authenticity of a leaked audio message, which has gone viral on social media, on a waiver of fines for a number of road traffic-related offences. General Him Yan, deputy National Police chief in

  • Pursat Ford assembly plant opens

    The Kingdom’s first Ford assembly plant was inaugurated on June 16 in Pursat province amid rising demand for brand-new vehicles among Cambodians. The facility is seen as a game changer for the domestic automobile industry, which could bring a wave of investors seeking to cash

  • Siem Reap’s $18M zoo said to educate public, help wildlife

    Angkor Wildlife and Aquarium Co Ltd has invested $18 million in a zoo in Siem Reap province, which will be opened in October to educate and promote animal conservation as well as attract national and international tourists. Currently, the Angkor Wildlife and Aquarium is building the

  • Volunteer scheme to foster ‘virtuous’ humanitarian spirit

    A senior education official said volunteer work contributes to solidarity and promotes a virtuous humanitarian spirit among the youth and communities. Serei Chumneas, undersecretary of state at the Ministry of Education, Youth and Sport, made the comment during the opening of a training programme called “

  • $50B infrastructure plan en route

    The government’s upcoming $50 billion,10-year infrastructure master plan will provide tremendous investment opportunities for domestic and foreign entities, transport experts and economists say. Minister of Public Works and Transport Sun Chanthol revealed the plan to Japanese ambassador to Cambodia Masahiro Mikami on June 15. At

  • Chinese firms unveil preliminary results on metro, monorail for capital

    Minister of Public Works and Transport Sun Chanthol and representatives from China Road and Bridge Corp (CRBC) and its parent company, the state-owned China Communications Construction Co Ltd (CCCC), met on June 24 for talks on results of the firms’ preliminary study on a potential metro