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The Xinhua News Agency reports from Phnom Penh on January 27th, with reporter Zhang Ruiling. On the same day, Benso Lusa, the Secretary of State for Cambodia’s Ministry of Finance, stated that the country’s garment industry showed strong recovery following the global financial crisis in 2010. In that year, garment exports reached $3 billion, marking a 26% increase from the $2.38 billion recorded in 2009. This growth brought exports back to levels seen in 2008, signaling a positive trend in Cambodia's economic revival.
Benso Lusa emphasized that the garment sector is a key driver of Cambodia's economy, with major export destinations including the United States, Europe, and Canada. In 2010, approximately $2 billion worth of garments were exported to the U.S., highlighting the importance of this market.
Looking ahead, Benso Lusa expressed optimism about the future of Cambodia's ready-to-wear industry. With the global economy gradually recovering and the European Union revising its trade regulations, the export environment is expected to become more favorable. The Cambodian government is also actively working to expand its presence in the Japanese market, aiming to boost garment exports further.
It is anticipated that the apparel industry will perform even better in 2011, building on the momentum gained in the previous year. Garment exports remain one of the main pillars of Cambodia’s economic growth, providing employment to over 300,000 people across the country.
According to data from the Union of Cambodian Trade Unions, Cambodia currently operates around 470 garment and shoe factories. In 2010, 51 factories closed down, while four were discontinued, but 91 new facilities were launched. This indicates a dynamic industry with both challenges and opportunities. In 2009, 90 factories shut down, 55 ceased operations, and 47 new ones opened, showing a pattern of fluctuation but overall resilience in the sector.
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