Despite election uncertainty, exports achieve solid growth

Exports of garment and footwear products achieved solid growth during the first half of the year, expanding by 9.3 percent.

According to the Ministry of Commerce, exports from the country’s garment industry were valued at $3.7 billion during the first six months of the year.

The growth in export activity was achieved despite recent warnings from the European Union and the US – the Kingdom’s main trade partners – that they would annul Cambodia’s preferential trade status if the human rights situation in the country fails to improve.

The solid performance of the sector also comes during a sensitive time for the country, with Cambodia celebrating its sixth national poll on Sunday.

According to figures from the ministry, textile shipments to the European bloc grew by 10.66, achieving a total value of more than 1.6 billion, while those to the US rose by 10.73 percent and were worth $858 million.

These two markets jointly accounted for 72 percent of the Cambodia’s total exports.

Exports to Canada expanded by more than 9 percent, reaching a value of $324 million, while shipments to the rest of the world grew by 10.10 percent and were valued at $850 million.

Kaing Monika, deputy secretary general for the Garment Manufacturers Association in Cambodia (GMAC), said the overall performance of the sector has been impressive, particularly taking into consideration that the national election had many investors worried.

“The EU and the US are, and will continue to be, our most important markets. We are confident that the relationships between our countries will improve through mutual understanding and respect,” he said.

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