Cambodian garment exports fall 27 per cent

Bangkok - The value of Cambodia's garment exports in January was 27 per cent lower than in the same period last year as demand in the United States and Europe

slumped, national media reported Thursday.

Garment exports were worth about 246 million US dollars in January 2008 but had dropped to about 177 million in the first month of this year, according to figures released by the Ministry of Commerce.

Exports to the United States dropped by about 35 per cent while exports to Europe were down by about 10 per cent.

Garment manufacturing, Cambodia's only significant export industry, has been the hardest hit sector in the developing country's economy during the global financial downturn, with more than 30 factories closing so far this year.

More than 30,000 garment factory workers lost their jobs in the past 12 months, according to a World Bank report released Sunday.