Cambodia's Garment Export Reaches 2.1 Billion USD in H1, up 9 pct
|Release time:2013-04-08 Source:admin Reads:|
| Cambodia had exported garment and textile products in equivalent to 2.1 billion US dollars in the first six months of 2012, up 9 percent from 1.93 billion US dollars in the same period last year, a report from the Commerce Ministry showed on Monday. Garment and textile products like fabric labels and printed labels are hottest at overseas market due to utility and high demand.
The United States and European countries are the main buyers; other clients include Canada, Japan, South Korea, China and some other Asian countries. It shows evidently that the importers are mainly developed countries because garment and textile products are labor-intensive ones especially with the support of affluent crude materials and cheap labor force. Compared with high-developed areas, even if Cambodia is less developed but has comparative advantages of labor-intensive products such as fabric labels or garments. Thus, export-oriented products contribute a lot to Cambodia’s export volume.
During the same period, the country had imported garment and textile raw materials in equivalent to 1.5 billion US dollars, a 23 percent rise from 1.22 billion US dollars in the same period last year, said the report.
Those materials had been mainly imported from China, China's Taiwan, Thailand, Japan and South Korea.
Garment industry is the country's largest income earner. The sector consists of more than 300 factories, employing some 335,400 workers - 91 percent of them are female, according to the Commerce Ministry. The United States, UK, Spain, Japan, and other developed countries see Cambodia as a potential and suitable place of origin of garments and fabric labels. In recent years, these nations have got approval of investment in Cambodia to develop the local economy. Undoubtedly, other exports will gain the lion’s share as well as garment and textile products in the international market.
Last year, the sector had exported products in equivalent to 4. 24 billion US dollars, up 25 percent from a year earlier.