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Cambodia: Kingdom’s exports increase by 34 percent in Jan-May
Cambodia’s exports increased during the first five months of this year, which reflected the revival of production chains in the garment and non-garment sectors after a successful vaccination campaign and easing of the pandemic.
Speaking at the graduation ceremony of more than 2,000 students of the Royal School of Administration in Phnom Penh on Monday, Prime Minister Hun Sen said Cambodia’s export has been on the rise since early this year.
“The exports have increased since earlier this year. The orders have been placed and increased… about 500 garment factories are in full production to supply to the orders,” he said.
The country exported $9,412.3 million worth of goods in the January-May period this year, a 34.5 percent increase compared to the same period last year, according to data from the General Department of Customs and Excise.
Garment productions – clothes, footwear and travel bags amounted cumulatively to $4,483 in value, a 47.7 percent of total export, read the report.
The US remained the biggest market for Cambodia’s products during the period, accounting for 57.7 percent of $3,729 million of total exports, the report stated.
The Kingdom’s imports during the period was worth $13,057 million in the period, a 19.7 percent increase year-on-year.
There are currently 1,719 industrial factories in the country, with an investment value of $15,337 million, according to Heng Sokkung, Secretary of State at the Ministry of Industry, Science, Technology and Innovation.
In the first five months this year, 67 new factories opened up while 19 factories shut down operations, he said. “The size of the investment is a significant increase compared to the same period in 2021,” Sokkung said.
Source: https://www.khmertimeskh.com/501093434/kingdoms-exports-increase-by-34-percent-in-jan-may/