Thailand
Cambodia: Drop in US exports seen as a wake-up call
Cambodia: Drop in US exports seen as a wake-up call
Tuesday, 9 August 2016 – The industry body for the nation?s garment and footwear manufacturers said new trade data showing a decline in Cambodian exports to the US during the first half of the year was a sign that the Kingdom was losing its competitive advantage, threatening the future of its $6 billion garment industry.
The latest US government census trade data indicate that Cambodian exports to the US from January through June totalled $1.3 billion, down from nearly $1.5 billion during the same period a year earlier. The 8 per cent decline represents the first contraction in US-bound exports in five years.
While the census data did not provide a breakdown, garments comprise the largest component of Cambodia?s export basket to the United States, the country?s biggest single-country export market. In 2015, garment shipments accounted for $1.7 billion of the country?s total $3 billion exports to the US. Read More?