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Business trends

Cambodia's garment industry finds temporary relief in US

Rise in wide range of exports helps offsets loss of EU trade privileges

Cambodia's garment factory is under pressure from the coronavirus pandemic and a loss of EU trade privileges. (Photo by Nikkei)

PHNOM PENH -- Robust exports to the U.S. are giving Cambodia's garment industry -- and its wider economy -- breathing room in the face of the coronavirus pandemic and a loss of key European trade privileges.

The Asian Development Bank announced this week it has revised upward its economic projection for Cambodia, forecasting gross domestic product would contract by 4% this year, rather than the 5.5% forecast in June.

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