Exports of garments and textiles from Kingdom of Cambodia increased to US$ 4.25 billion last year, as against exports of US$ 3.4 billion achieved in 2010, registering a sharp rise of nearly 25 percent, according to figures released by the Ministry of Commerce.
The US retained its position as the leading importer of Cambodian garments, and it imported garments worth US$ 1.84 billion last year, showing an increase of 11.4 percent year-on-year.
Cambodia's garment exports to the EU surged by over 42 percent to US$ 1.3 billion during the year. The huge rise in exports to the EU can be traced to the duty-free export facility granted to the Kingdom, which resulted in more number of European buyers for Cambodian garments.
The country's garment exports to all remaining countries, including Canada and Japan, crossed US$ 980 million in 2011, up 38 percent from exports worth US$ 645 million in 2010.
According to experts, the 25 percent year-on-year rise in Cambodia's garment exports in 2011 points towards diversification of the Kingdom's garment industry away from manufacturing of low value-added items to higher value-added garments.
The 25 percent y-o-y increase in Cambodia's garment exports was, however, less than the 42.7 percent y-o-y growth witnessed in the country's total exports last year.
Fibre2fashion News Desk - India
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