March 10, 2011

Cambodia`s garment export up 25.2%


According to the statistics of Cambodian Ministry of Commerce (MOC), Cambodia's garment exports reached US$2.98 billion in 2010, up 25.2% compared with the previous year.

Garment Manufacturers Association in Cambodia (GMAC) stated that such strong growth is largely due to global economic recovery in its major exporting markets, especially the US, its largest market.

In 2010, the country's exports turnover to the US reached US$2 billion while shipment to EU stood at US$750 million.

The GMAC forecasts that in 2011, its exports will be boosted by the preferential tax treatment for exports to the European market recently introduced under the Generalized System of Preferences (GSP) as well as bilateral free trade agreements. 

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