Cambodian garment & textile exports grow 5.81% in Jan-Feb

[geovalin]

The exports of garments and textiles from Cambodia grew by 5.81 percent to US$ 374.93 million in the first two months of the current year, compared to exports of $354.33 million made during the same period last year, data with the Garment Manufacturers Association in Cambodia (GMAC) showed.

From January to February 2014, Cambodia exported $159.83 million worth of garments and textiles to the US, followed by $63.93 million to the EU, $49.1 million to Canada, $31.95 million to Japan, and $70.12 million to other markets, according to the data.

In recent years, Cambodia’s apparel and textile exports have grown in leaps and bounds. From an earning of mere $1.156 billion from clothing and textile exports in 2001, the figure grew to $2.19 billion in 2005, $3.008 billion in 2010, and $4.047 billion in 2011.

Last year, Cambodia’s clothing and textile exports increased by 11.71 percent to $4.966 billion, as against exports of $4.445 billion made in 2012, as per GMAC data, which does not include footwear export figures.

From February 2014, a new wage structure, offering $100 monthly minimum wage, including a $5 health bonus, was implemented in Cambodian garment factories.

The garment sector is the main foreign exchange earner for Cambodia, accounting for about 80 percent of the country’s overall exports. It employs over 300,000 workers, with more than 90 percent of them being female.

http://www.fibre2fashion.com/news/apparel-news/newsdetails.aspx?news_id=163106