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The Cambodia Ministry of Finance's State Secretary, Benso Lusa, highlighted on January 27 that the country's garment industry experienced a strong recovery following the global financial crisis in 2010. According to official reports, garment exports reached $3 billion in 2010, marking a 26% increase from the $2.38 billion recorded in 2009. This growth brought export levels back to those seen in 2008, signaling a solid rebound for the sector.
Lusa emphasized that the recovery of the garment industry reflects broader economic improvements in Cambodia. He noted that the majority of Cambodia’s clothing exports are directed toward the United States, Europe, and Canada. In 2010 alone, the U.S. accounted for approximately $2 billion in garment imports from Cambodia, underscoring the importance of this market.
Looking ahead, Lusa expressed optimism about the future of Cambodia's apparel sector. With the global economy gradually recovering and the European Union revising its trade regulations, he believes the export environment will become more favorable. Additionally, the Cambodian government is actively working to expand its presence in the Japanese market, aiming to diversify its export destinations.
Experts predict that the 2011 garment industry will perform even better than the previous year, driven by improved demand and supportive policies. Garment exports remain a crucial pillar 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, there are currently around 470 garment and shoe factories operating in Cambodia. While the industry has faced challenges, such as factory closures, it has also shown resilience. In 2010, 51 factories were shut down, and four others ceased operations, but 91 new plants were launched. This contrasts with 2009, when 90 factories closed and 55 companies stopped production, while 47 new facilities opened. These figures highlight both the volatility and the ongoing development of the sector.
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