PHNOM PENH, Oct. 11 (Xinhua) — Cambodia exported bicycles price 424 million U.S. {dollars} to overseas markets within the first 9 months of 2023, a year-on-year lower of 42.8 p.c, mentioned a report of the Ministry of Commerce on Wednesday.
Ministry of Commerce’s Secretary of State and Spokesman Penn Sovicheat mentioned the Made-in-Cambodia bicycles had been shipped to the European Union, the United States, Britain, Canada, Japan and China, amongst others.
“The decline was due to global economic slowdown and uncertainty, resulting in a drop in purchase orders,” he advised Xinhua.
Sovicheat mentioned bicycles are certainly one of Cambodia’s main manufacturing merchandise for exports after garments, footwear and journey items.
There are at present 5 bicycle factories within the Southeast Asian nation, all of that are located in particular financial zones in Svay Rieng Province’s Bavet City on the border with Vietnam.