Cambodia sees exports fall sharply
18/08/2009
Cambodia’s commerce ministry has released figures that show a sharp drop in textile and apparel exports for the first half of 2009, but commentators insist that the main reason was industrial unrest across the Asian country, rather than the global economic downturn.
Exports of garments, footwear and other textile products dropped 18% compared to the first six months of 2008 to $1.27 billion.
Exports to the most important export market, the US were down by 30%, while the value of shipments to Canada fell by 13%. Exports to Europe were worth 5% less.
Van Sou Ieng, president of the Garment Manufacturers Association of Cambodia (GMAC), told local media that labour management issues have played an important role in these results. He said: “I believe at least 100 factories have been closed down and suspended so far because there has been no orders.” He said buyers had been “scared off” by strikes and demonstrations.
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