Industry Sector
The real growth rate of the industry sector has been revised downwardly by half a percentage point against the previous estimate to 8.8 percent year-on-year in 2012. A scaling down of the growth estimate of the textile and garment sub sector, as a result of persistently weaker demand in the European and US markets, accounts for this lower growth rate. For a similar reason, our preliminary projection shows that the industry sector is likely to see another single digit growth rate of 9.5 percent year-on-year in 2013. The export value of Cambodian textile and garment products during the first four months of 2012 was recorded at US$1.3 billion, an annualized increase of 11 percent. This growth pace was much slower than the 44 percent recorded over the same period last year as a result of weakening demand in Cambodia’s major export markets, Europe and the United States. Based on these figures, the total export value of Cambodian textile and garment products is estimated to increase at an annualized rate of about 10 percent-slightly lower than our January expectation-to reach US$4.7 billion in 2012. …
