The Mirror, Vol. 14, No. 674
“According to figures from the Ministry of Commerce, the export and import of Cambodia increase by 16% in the first six months of this year, compared to last year.
Note:
We are unable to understand the meaning of the added up export and import figures, and the calculated combined percentage numbers for export and import together. The absolute figures, given separately for exports and for imports, are, of course, clear in their meaning, also the comparisons of present and of past years within exports and within imports, separately.
Any help to understand these combined “export and import sum and percentage” figures – via Comments – is appreciated.
Norbert Klein
“As said by experts, the commerce grows due to increasing global demand.
“Nevertheless, some experts warned that the economic recovery is in a delicate condition.
“A secretary of state of the Ministry of Commerce, Mr. Chan Nora, said, ‘Commerce should be growing during this period as the global economy is recovering, while also the consumption of products increases. Especially, the Ministry of Commerce is trying to coordinate exports.
“Reports for the first six months show that imports increased by more than 18% to US$2,183 million this year, compared to the corresponding period last year with US$1,844 million.
“The exports increased by 13.14% to US$1,498 million. Compared to the same period last year, exports amounted to US$1,324 million, where 70% was related to garment products.
“The figures demonstrate that exports and imports in the first six months of 2010 increase by 16.19% to US$3,168 million compared to the same period last year.
“However, some observers noticed that the Cambodian economy is still facing dangers, as overall economic activity still drops, though the figures show an increase.
“The director of the Khov Chuly Group importing construction materials, Mr. Khov Phalaboth, said that even though there is progress in the real estate, agricultural, and industrial sectors, it seems too quick to say that the Cambodian economy has completely recovered. He said, ‘The economic downturn has not completely come to an end. Hazards remain. Typically, it is like recovering from sickness, but things might still get worse.’
“Mr. Chan Nora went on to say the increase in imports by Cambodia encourages an increase in exports. He said, ‘The local garment and textile sectors are doing better, causing also an increase in the demand for raw materials.’ The head of the Cambodian Economic Association, Mr. Chan Sophal, said, ‘The growth in commerce is really vigorous.’ He added that the increase in exports and imports is a measure of the economic growth of Cambodia. According to the National Bank of Cambodia, exports and imports dropped by about 17% from US$10,633 million in 2008 to only US$8,827 million in 2009.
“At present, the government is also looking into the future. Mr. Chan Nora said that the Ministry of Commerce is actively negotiating about the export of agricultural products to China, but the quality of local products is still an obstacle.
“He said, ‘We had asked people to send experts here to improve the quality of our products. We want to export our own manufactured products so as to get higher prices.’ He added that agricultural products are becoming important local products for export.” Phnom Penh Post [Khmer Edition], Vol.1, #220, 22.7.2010
This article was first published by The Mirror, Vol. 14, No. 674 - Thursday, 22.7.2010
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Norbert Klein is the Editor of The Mirror – The Mirror is a daily comprehensive summary and translation of the major Khmer language press - More about The Mirror