Cambodian garment exports to the EAEU (Eurasian Economic Union) dropped by 36.6 percent year on year between 2019 and 2020, according to a report from Fibre2Fashion Pvt Ltd, a market driven B2B portal. The EAEU is a political, military and economic union consisting of five countries, Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan. The decline in exports to the EAEU occurred between April and June of 2020. Export volume began to make a recovery in July.
The garment industry is a backbone of Cambodia’s export industry with the Kingdom contributing more than half of the nation’s total merchandise exports, said Fibre2Fashion.