Cambodia exports up 21% in first quarter

Reading Time: 2 minutes

Cambodia Garment WorkersCambodian export values increased more than 21 per cent in the first quarter 2013 compared to the same period last year, a report in the Phnom Penh Post said.

According to the Ministry of Commerce’s export data, exports reached over $1.65 billion in the first three-month period 2013, up from the goods exported during the same period last year, valued at $1.36 billion.

The revenue of exports including manufacturing products, milled rice and agro-industrial products such as cassava amounted to $289.2 million more than the first quarter of the previous year.

The figure was supported by a sharp rise of exports in agricultural products, which increased 41.52 per cent to $147.1 million in the first quarter of this year compared with $103.9 million in the same period last year.

The garment sector saw a 16 per cent increase in exports to $1.34 billion this year compared with last year’s $1.15 billion, according to the data.

Nguon Meng Tech, director general of the Cambodia Chamber of Commerce, attributed the garment sector’s success to long-term government support, and said the government’s policy helped attract investors to the country.

“There is good potential for investors in Cambodia due to our political stability,” he said. “When we have more investment, we can create jobs for our people.”

He noted that while some investors were initially afraid of doing business in Cambodia, they were swayed when they saw the stability of Cambodia’s economy.

Another factor leading to export growth, Meng Tech said, was increased direct access to international markets, as Cambodian products had previously been primarily exported only to neighbouring countries before shipping internationally.

The World Bank recently predicted that Cambodia’s GDP growth would reach 7.0 per cent for this year, up 0.3 percentage points from its last projection in December.

 

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid

Reading Time: 2 minutes

Cambodian export values increased more than 21 per cent in the first quarter 2013 compared to the same period last year, a report in the Phnom Penh Post said.

Reading Time: 2 minutes

Cambodia Garment WorkersCambodian export values increased more than 21 per cent in the first quarter 2013 compared to the same period last year, a report in the Phnom Penh Post said.

According to the Ministry of Commerce’s export data, exports reached over $1.65 billion in the first three-month period 2013, up from the goods exported during the same period last year, valued at $1.36 billion.

The revenue of exports including manufacturing products, milled rice and agro-industrial products such as cassava amounted to $289.2 million more than the first quarter of the previous year.

The figure was supported by a sharp rise of exports in agricultural products, which increased 41.52 per cent to $147.1 million in the first quarter of this year compared with $103.9 million in the same period last year.

The garment sector saw a 16 per cent increase in exports to $1.34 billion this year compared with last year’s $1.15 billion, according to the data.

Nguon Meng Tech, director general of the Cambodia Chamber of Commerce, attributed the garment sector’s success to long-term government support, and said the government’s policy helped attract investors to the country.

“There is good potential for investors in Cambodia due to our political stability,” he said. “When we have more investment, we can create jobs for our people.”

He noted that while some investors were initially afraid of doing business in Cambodia, they were swayed when they saw the stability of Cambodia’s economy.

Another factor leading to export growth, Meng Tech said, was increased direct access to international markets, as Cambodian products had previously been primarily exported only to neighbouring countries before shipping internationally.

The World Bank recently predicted that Cambodia’s GDP growth would reach 7.0 per cent for this year, up 0.3 percentage points from its last projection in December.

 

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid