Mexican textile trade surplus to double this year: CMM

20 Jan '14

2 min read

The Mexican textile industry, including clothing and accessories, trade surplus is expected to double this year to 8 billion pesos from the existing 4 billion pesos, said the Committee of Mexican Fashion (CMM) at the recently held IM Intermoda event in the Mexican city of Guadalajara.

The CMM members hosted a special meeting during the most important event in Mexican apparel and fashion industry IM Intermoda as the event gathers everyone associated with the industry directly or indirectly.

According to the CMM, the textile industry of Mexico is the only sector actively engaged in the industrial sector of the country and having the potential to develop the country’s economy.

At the meeting, Sergio Lopez de la Cerda, president of the National Chamber of Apparel Industry (CANAIVE) and coordinator of CMM, said that within the manufacturing sector, the textile industry of the country is the third largest in production and may soon become the second largest, hence it should be given priority.

Consolidate data of 2013 states that the textile sector of the country had a combined annual production estimate at 144.18 million pesos, indicating a growth of 0.1 percent year-on-year, he added.

Mr. Cerda said that the overall Mexican textile industry comprises of 95,130 firms operating in five productive sectors, employing nearly 792,772 Mexicans, and exports amounting to 16 billion pesos and surplus totaling to 4 billion pesos.

Members at the CMM meeting said that in order to reach the trade surplus of 8 billion pesos in 2014, the Mexican textile industry needs to articulate its different value chains, promote competitiveness through innovation, design and technology, and position Mexico as a textile leader internationally.

Fibre2fashion News Desk - India

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