US bound exports pass pre-crisis levels

[PHNOM PENH POST]

Cambodia's exports to the United States in the first quarter of 2011 have increased on pre-crisis figures, according to statistics from the US Census Bureau.

Some US$657.9 million worth of goods were shipped to the US in the first quarter this year, compared with the previous high of $637.9 million in 2008, and $505.4 million for the same period last year. The statistics do not break out seperate trade goods.

Bretton Sciaroni, senior partner of Sciaroni and Associates, wrote that Cambodia’s volume of exports to the US has bounced back to exceed the pre-international financial crisis level.

“Without knowing more of the specifics, this increase is most likely due to increase in the volume of exports of garments,” he said.

“As the US economy has stabilised, the purchase of clothes among American consumers no doubt has increased.”

Sciaroni, who is also Chairman of American Cambodian Business Council, said that it was important for Cambodia to diversify its export market for garments beyond the United States and European Union.

Garment Manufacturers Association in Cambodia Secretary General Ken Loo said the Kingdom’s garment industry had increased exports in the first quarter.

“Traditionally, the EU and US are the two biggest markets in the world for garments,” he said, but added Cambodia aimed to diversify its garment exports to other markets such as Japan and China.

Cambodia’s total first quarter garment exports had increased an annualised 45.5 percent to $976 million, according to Ministry of Commerce figures.