Exports to US grow 4.5% YoY in 1H17

Cambodian exports to the US from January to June totaled $1.36bn, up 4.5% YoY compared to the same period in 2016, which saw decline by almost 13% YoY, according to the latest US government census trade data. While the data do not break down individual export products, Garment Manufacturers Association in Cambodia (GMAC)’s Deputy Secretary-General Kaing Monkia said the vast majority of Cambodia’s exports to the US were garment and footwear products. Monkia speculated that the trade privileges granted last year that allow Cambodian-manufactured travel goods duty-free access to the US had helped the local garment industry regain its footing. However, Soeng Sophary, spokesperson for the Ministry of Commerce, said that it could take years before the country sees the full benefits of the duty-free privilege as the government tries to attract new investors. (Source: Phnom Penh Post)