Peru : Peruvian garment exports grow in Jan-Feb

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Peruvian garment exports grow in Jan-Feb

20
Apr '12

Apparel exports from Peru grew by 20 percent year-on-year during the first two months of the current year.

In January-February 2012, Peru exported clothing items worth US$ 221.5 million compared to exports of garments worth US$ 184.5 million during the corresponding period of last year, according to data released by Asociación de Exportadores (ADEX), Peru.

In spite of 20 percent y-o-y increase, the value of apparel exports during the period was three percent below 2008's exports of US$ 228.1 million.

ADEX said though the apparel export trend is encouraging, the industry needs to act cautiously, as the growth has mainly resulted from increased exports to markets like Brazil and Venezuela, while exports to key destinations like the UK, US, Germany and Italy have witnessed a downturn.

According to experts, the encouraging trend is not likely to persist till year end, as factors like financial crisis in the EU, and sluggish economic growth in the US are likely to impact the demand for Peruvian garments.

The US, followed by Venezuela, topped the list of 67 countries that imported Peruvian apparels during the period under review.

The US imported apparels worth US$ 105.9 million during the two-month period, accounting for 54 percent of Peru's total garment exports.

However, Peru's clothing exports to the US in January-February 2012 were four percent lower than exports to the US during the corresponding period of previous year.

Fibre2fashion News Desk - India

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