Exports fall 26.4pc in July as crisis in Kingdom continues [-Is there anything to worry about yet?]

FIGURES released Tuesday by the Kingdom's import-export inspection body showed July exports plummeted an annualised 26.4 percent, a larger decrease than in June, suggesting the worst of the economic crisis is not yet over for Cambodia.

After showing a fall of 17.5 percent in June, Camcontrol figures indicated that exports fell to US$249.94 million last month from $339.43 million in the same period last year, meaning that the garment industry, which is responsible for about 90 percent of Cambodia's total exports, had not yet overcome the worst of the drop in global demand, particularly in key markets the United States and Europe.

"The decline in exports has affected Cambodia's economy since the beginning of the year and is not something new," said Chan Sophal, president of the Cambodia Economic Association. Click to read more...