October 19, 2010
Source: Xinhua
The World Bank (WB) raised its projected GDP growth for Cambodia to reach 4.9 percent for 2010, increased 0.5 percentage point from its April's forecast of 4.4 percent, driven by a rebound in garment exports, tourism, and the uninterrupted growth of agricultural production, according to the WB's report on Tuesday.
"Apparel exports rose by 15 percent over the first six months of 2010, reflecting a pickup of shipments to the U.S.," said the WB's 2010 East Asia and Pacific Economic Update report. "This helped create 16,000 new jobs since January 2010 after a loss of 43,000 jobs in 2009."
It predicted that Cambodia's garment exports are expected to post a 14 percent growth this year.
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