Cambodia’s export turnover hits 8.03 bln USD in 2015
Cambodia’s Ministry of Trade announced the total export turnover of the country in 2015 reached 8.03 billion USD (mainly apparel and footwear), up 17 percent compared to 2014’s 6.8 billion USD.
Illustrative image (Source: thecambodiaherald.com)The European Union (EU) replaced the US market to become the biggest export market for Cambodia in 2015. It imported 2.5 billion USD of the 5.7 billion USD worth of apparel exported from the southeast Asian country, while the US imported only 1.7 billion USD worth of the same product, a reduction of 3 percent compared to 2014.
According to Secretary General of Cambodia’s Garment Manufacturers Association Ken Loo, the country’s apparel and footwear sector has enjoyed a stable growth over the last decade due to tariff incentives that the EU has applied to Cambodia.
The sector has played a significant role in the country’s total trade exports value, and is a major economic sphere contributing to the nation’s income, reducing hunger and poverty.
There are more than 1,000 apparel and footwear manufacturing factories across the country, generating jobs for over 700,000 workers with average monthly salaries of 140 USD.-VNA
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