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Cambodian Exports Down (To the US)

This is not good news. From Xinhua, via KI-Media

In the last three months of 2007, apparel exports to U.S. were 352 million U.S. dollars, 30 percent below the 2006 level, according to the ministry.

In the first three months of this year, exports to U.S. slipped1.44 percent compared with the same period last year, to some 500 million U.S. dollars, it said.

But wait, there’s more:

But overall, Cambodian apparel exports have increased slightly,4.78 percent in the first three months of this year over the same period last year, because of rising demand in Europe and Canada, it added.

Exports to EU have been on the rise since 2003, a trend that has been bolstered by the falling dollar, said Kaing Monika, external affairs manager for the Garment Manufacturers Association of Cambodia.

Oh, and also:

Rising production costs in China have worked in Cambodia’s favor, as buyers search for alternative sources of clothing, he added.

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