Garment exports business in cambodia

The World Bank credited last year's recovery on a good performance from agriculture, which was up 5.3 per cent, and improved garment exports, up nearly a quarter. Most garments were sent to the United States and European Union. The World Bank said the recovery in the garment and footwear sectors had added more than 55,000 jobs, nearly reversing the numbers lost during the 2008-2009 global economic crisis. Cambodia's exports were expected to remain strong partly because of preferential tariffs for least-developed countries exporting to the EU, it said. Cambodia's economy rests on four pillars: agriculture, garment manufacturing, tourism and construction. The World Bank said higher tourism arrivals, up 16 per cent to 2.5 million tourists last year, had helped boost the economy with receipts of 1.8 billion dollars. But it warned construction remained sluggish and said the ratio of loans to deposits was static at around 74 per cent, the result of limited lending opportunities. Foreign investment rose 16 per cent last year, which helped to diversify production and exports. The World Bank singled out a trebling of milled rice exports for particular praise.