Export Figures Up 42% in 2011

Strong growth in garment, textile and agricultural exports drove a 42.7% year-on-year increase in Cambodia’s total exports for 2011, official Ministry of Commerce data shows. The Kingdom exported US$4.98 billion in goods last year, compared with US$3.49 billion the year before. Market diversification and a relaxing of rules of origin in the euro zone fuelled last year’s growth, insiders and experts say. Heightened awareness of export schemes among investors, as well as government facilitation, also contributed to growth. “We got duty-free export treatment in the European Union, so we had a huge increase in exports to that market last year,” Garment Manufacturers Association of Cambodia (GMAC) secretary-general Ken Loo said yesterday. He noted the importance of exports to the European Union for Cambodia’s garment manufacturing sector.

[The Phnom Penh Post]