TITLE

Cambodia's economy to slow down in 2005

PUB. DATE
November 2004
SOURCE
Indian Textile Journal;Nov2004, Vol. 115 Issue 2, p266
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
This article reports on the expected economic slowdown in Cambodia by 2005. This is due to losses in the garment sector, although gains in tourism may help offset the downward direction. The country's economic growth is expected to decline to 2.4 percent in 2005 from a projected 4.3 percent in 2004. The predicted slowdown is based upon the idea that Cambodia's garments exports will be severely affected by the removal of their preferential quotas to the U.S. The World Bank projects that unemployment will increase to 15 percent in 2005, up from 13 percent in 2004, and that the percentage of Cambodians living on a U.S.$41 or less a day will remain at about 42 percent in 2005. Garment exports, which make up 76 percent of Cambodia's exports, were projected to decline to 12 percent by 2005. Cambodia and other least-developed countries were looking to gain tariff-free access to U.S. markets--which could help soften the impact. The Cambodia Daily reported recently that two factories employing about 9,800 workers had suspended operations in the last two weeks. The industry has limited production capacity and is less productive than China. The International Monetary Fund made a more dire prediction in August 2004, saying growth would decline to 1.9 percent in 2005, chiefly due to a slowdown in the garment sector, which it said lacks competitiveness.
ACCESSION #
16361558

 

Related Articles

  • Textile Barometers.  // Textile World;Jan2005, Vol. 155 Issue 1, p15 

    This article provides data on textile indicators and economic indicators in the U.S. Textile indicators include textile mill employment, ill product employment and textile capacity utilization, while economic indicators included employment, unemployment rate, and price indexes.

  • Country Risk Summary: VIETNAM.  // Asia Monitor: South East Asia Monitor Volume 1;May2004, Vol. 15 Issue 5, p4 

    The article presents economic conditions of Vietnam. Vietnam has reaffirmed its sovereignty over Spratly islands, one day after it announced it would start sending tourists to the disputed islands. Vietnam's economy grew by 7% in the first quarter of 2004. According to the General Statistics...

  • Forecasting The New Year. Reichard, Robert S. // Textile World;Jan2005, Vol. 155 Issue 1, p14 

    This article highlights the forecast by the publication "Textile World" (TW) for the textile industry for 2005. TW holds the basic premise that the changing trade ground rules will not have any impact in the textile/apparel industry, but fractional losses in overall industry activity is...

  • U.S. Trade Gap Widens As Imports Rise.  // WWD: Women's Wear Daily;1/13/2010, Vol. 199 Issue 8, p14 

    The article discusses on the increase in the volume of textile and apparel imports to the U.S. It states that the textile shipments to the U.S. increases which has been recorded as the rise of 3.5 percent to 2.1 billion SME and apparel imports advanced 0.5 percent to 1.7 billion SME. It also...

  • Seeing Off The Competition.  // Emerging Europe Monitor: Central Europe & Baltic States;May2005, Vol. 12 Issue 5, p1 

    This article offers update on the economic performance of Slovakia as of May 2005. Slovakia has retained its position as the fastest-growing economy in 2004. Business Monitor International foresees economic growth in Slovakia as exceeding that of the wider region throughout the forecast period....

  • Business Situation. Swann, Christopher; Vargo, Andrew E. // Survey of Current Business;Dec2005, Vol. 85 Issue 12, p1 

    The article presents economic statistics for the third quarter of 2004 in the U.S. It includes the real gross domestic product, estimates of the the national income and product account, real government spending, real exports, real imports of goods and services, and real personal consumption...

  • Business & Financial. Reichard, Robert s. // Textile World;Jan/Feb2008, Vol. 158 Issue 1, p18 

    The article provides forecast on the business and financial performances of textile industry in the U.S. in 2008. The year is remarkable for the industry because it is expected to ship more than $95 billion. According to the issue of the "Textile World's annual economic outlook feature," despite...

  • Behind The Cautious Optimism.  // Textile World;Jan2005, Vol. 155 Issue 1, p14 

    This article presents highlights of a report from the Institute for Supply Management for the textile industry. The report shows late-2004 gains in both textile ordering and production, as well as a greater-than-overall manufacturing performance in 2005 for apparel makers.

  • Textiles 2005. Reichard, Robert S. // Textile World;Jan2005, Vol. 155 Issue 1, p23 

    This article presents an economic forecast for the textile industry in the U.S. in 2005. The hard-pressed sector of the U.S. economy is expected to survive except in imports. It is still a question as to how the incoming Chinese shipments will grow now that the global quota system has been...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics