Slowdown in garment exports from Cambodia
The slump in global markets has depressed demand for Cambodian products, leading to reduced growth forecasts by the Asian Development Bank (ADB) for 2012 and 2013. “Falling global demand, especially in Europe and the US, means that the industry sector will grow at a slower pace this year,” said ADB Senior Country Economist for Cambodia Peter Brimble. Demand by major trading partners for Cambodia’s garment and footwear exports has softened this year, with US imports of garments and footwear from Cambodia growing by only 2.6% to $1.5 billion in the first 7 months of 2012, and imports to EU increasing by 20.9% to $798 million in the first 6 months, both decelerating sharply over 2011 levels…
http://www.fibre2fashion.com/news/apparel-news/newsdetails.aspx?news_id=116497
