Peru's garment exports to cross US$1.6bn in 2012

12 Dec '12

2 min read

Apparel exports from Peru are likely to grow between 11 and 13 percent year-on-year to surpass US$ 1.6 billion mark by the end of the current year, according to the estimates of the Apparel Committee of the Sociedad Nacional de Industrias (SNI or National Society of Industries).

Chairman of the Committee Mario Fiocco Bloisa explained that the apparel sector's growth will be driven by market diversification, especially from neighboring countries. He forecasted that clothing exports from Peru to Venezuela, Brazil, Colombia and Mexico will increase by 33 percent year-on-year, 5.25 percent, 2.43 percent and 1.32 percent respectively, in 2012.

However, despite the ongoing financial crisis, the US continues to remain as the largest market for Peruvian apparels. For figures available up to October 2012, the US accounted for 39 percent of all clothing exports from Peru.

In terms of units, apparel exports will increase slightly between 1 and 2 percent compared to last year, when the country exported 200 million garments. The quantity of apparels would be still lower than the peaks seen in 2007 and 2008, when the country exported 247 million and 252 million garments, respectively, Fiocco said.

The average unit price of garments has grown during the year, mainly due to a rise in global cotton prices between 2010 and 2011.

The SNI Apparel Committee chairman projected Peru’s clothing exports to grow in the range of 9-12 percent in 2013. He especially expects a strong growth in exports to Mexico and Brazil next year, because both the economies are growing rapidly.

The chairman also indicated that priority would be given to boosting investment in innovation and training as well as for encouraging the development of micro and small enterprises to achieve a sustained growth.

Fibre2fashion News Desk - India

More Apparel/Garments News - Peru...