The Peruvian apparel sector is likely to recover during 2014 owing to the expected rise in demand from the US, said Pedro Gamio, chairman of the Apparel Committe of Exporters Association of Peru (ADEX).
According to a statement issued by ADEX, Mr. Gamio said the apparel sector of Peru is one of the key sectors of the country’s economy, but the growth in the sector was the lowest during 2013.
The ADEX official explained that production of clothing during last year declined by 16.35 percent in the country, compared to 2012, as per the data from the Peruvian National Institute of Statistics and Informatics (INEI).
According to Mr. Gamio, the apparel sector has a more positive outlook for 2014, owing to rising demand for Peruvian apparel from the US, which would be one of the key catalysts for the revival of the sector, as the US accounts for more than 60 percent of apparel exports from Peru.
As per the ADEX data, clothing exports from Peru declined by 14.5 percent during last year compared to 2012. The decline in exports of Peruvian clothing has been attributed to the contraction of demand from the US.