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Cambodia garment and footwear exports to slow in 2017
2017/11/21 16:01:52 Source: Author: 点击率:

Cambodia's garment and footwear exports will likely experience slower growth this year – although this is not expected to be indicative of an overall decline, the country's garment association has said.

Ken Loo, secretary-general of the Garment Manufacturers Association in Cambodia (GMAC), told a recent textile summit that growth is expected at around 5% this year, compared with 7% in 2016. The slowdown, however, is a normal market occurrence due to the expansion of the industry's production base, he told delegates.

While export figures have not yet been published for the first nine months of this year, Loo told the conference that 25 new factories opened in Cambodia this year, while 53 had closed, the Phnom Penh Post reported.

Cambodia's garment sector benefits from an abundance of cheap labour and preferential trade status under the EU's Everything But Arms scheme and duty-free access to the US for travel goods. However, a minimum wage hike, set to take effect from January 2018, could affect exports, manufacturers believe.

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