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Clothing sector poised for smart recovery in 2010
10
Mar '10
The effects of the economic turmoil across the globe and the US in particular have not left the Mexican textile and clothing sector unscathed. Exports to the US from the industry fell to US $4.14 billion in 2009, down 16 percent, from a year ago.

This puts it far behind, its other nimble-footed Asian competitors like China, Vietnam and India. But the Mexican clothing sector has put these challenges posed by the slowdown behind it, and is poised to stage a smart recovery in 2010.

According to the Minister of Economy, Gerardo Ruiz Mateos, Mexico's textile and apparel industry is positioned to benefit from domestic economic growth this year estimated at about 4 percent and to recover its lost exports to the US.

He was optimistic that more flexible labour rules agreed to, during the recent contract negotiations with unions, and an up-coming promotional exports program in Mexico and the US should help the industry recover this year.

He added by saying that, “With the government and industry working together, Mexico could take its place as a global textile power.".

Employment in the textiles sector was nearly flat in December 2009, from a year earlier, which stood at 97,200 jobs; however, jobs in the clothing industry fell by 6.8 percent to 277,500.

Fibre2fashion News Desk - India


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