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Honduras' garment exports decline in H1
09 Oct '12
1 min read
The exports of apparels from maquiladoras in the Central American republic of Honduras declined by five percent year-on-year during the first half of 2012, according to the data released by the Central Bank of Honduras.
Maquiladoras are industries that import textiles from the US and export finished clothing items.
In the first half of 2012, Honduras exported garments worth US$ 1.408 billion, compared to exports worth US$ 1.482 billion made during the corresponding period of last year.
The decline in apparel exports is attributed to a decrease in consumer spending in the US, which accounts for nearly 85 percent of all textile and garment exports from Honduras.
From January to June 2012, Honduras exported US$ 70.1 million worth of yarn, down 33 million compared to the corresponding period of last year.
In 2011, Honduras exported textiles and apparels worth US$ 2.896 billion, as per the statistics of the Central Bank.
Knitted shirts are the main apparel export item from Honduras, while socks also have a small share.
Besides the US, Honduras exports its apparel and accessories to Canada, El Salvador and some countries in the European Union.
Fibre2fashion News Desk - India
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