Cambodia’s garment, footwear and travel goods industry has seen a 15.2 percent rise in exports in 2021, according to a report from the General Department of Customs and Excise on Saturday.
The Southeast Asian nation exported the products worth $11.38 billion last year, up 15.2 percent from $9.88 billion in the year before, the report said.
The garment, footwear and travel goods industry is the largest foreign exchange earner for Cambodia. The sector consists of roughly 1,100 factories and branches, employing approximately 750,000 workers, mostly female, according to the Labor Ministry.
The sector is one of the four pillars supporting the kingdom’s economy.
Minister of Economy and Finance Aun Pornmoniroth said earlier this week that the success of the national vaccination campaign in controlling the spread of COVID-19 has allowed the country to fully resume its socio-economic activities in all areas.
“With the success, Cambodia’s economy is projected to grow at a better-than-expected rate of 3 percent in 2021 from a 3.1 percent contraction in 2020, propelled by a swift rebound in garment sector and non-garment sector as well as agriculture,” he said.
“For 2022, the economy is predicted to grow at a higher rate of around 5.6 percent, buoyed by the expected rise of global demand and foreign investors’ confidence,” he added.
Pornmoniroth said Cambodia is one of a few countries in the region and in the world which have achieved high vaccination rates and induced strong COVID-19 herd immunity.
The country has so far administered at least one dose of COVID-19 vaccines to 14.37 million people, or 89.8 percent of its 16 million population, the Health Ministry said on Saturday.
Nearly 13.8 million people, or 86.2 percent of the population, have been fully vaccinated with two required shots, and 5.97 million, or 37.3 percent, have taken a third dose or booster shot, said the ministry.
For original article, please read here
Source: Khmer Times
Publication date: 13 February 2022