The country’s garment and footwear industry recorded very positive growth reaching 4 billion US dollars revenue in the first half of the current financial year.
According to a report published by the National Bank of Cambodia (NBC) the country’s garment and footwear exports recorded double-digit growth in the first half of the current financial year. Total revenue of the sector’s exports reached 4 billion US dollars in the period.
The NBC’s semi-annual report said the country’s exports of garments and footwear increased 11% compared to the same period a year earlier. In comparison, the growth rate is almost double last year’s year-on-year figure (6.9%).
The local Garment Manufacturers Association of Cambodia (GMAC) attributed the growth to the global economy’s better performance, especially in the US and EU, main destination areas for the country’s products. Cambodia’s exports to Canada, Japan and China also increased, but their relative share of Cambodian exports is still small