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Textile exports to Venezuela fall significantly in H1
19
Aug '11
Bolivian textile exports to Venezuela fell significantly to US$ 2 million in the first half of the current year, showing a decline of over 80 percent compared to US$ 18 million recorded in the corresponding period last year, according to Ministry of Exports.

The sharp decline in textile exports is being attributed to hurdles created by the Venezuelan bureaucracy while granting requests for import licenses. As per the Venezuelan laws, entrepreneurs dealing in clothing and footwear industries have to renew their import permits every year with suppliers' details as well as the amount and volume details of each tariff item to be imported.

Until few years back, most of the Bolivian textile exports were to the US under the Andean Trade Preferences and Drug Eradication Act (ATPDEA). However, when ATPDEA ended, Venezuela absorbed over 50 percent of Bolivian textile exports.

Since 2010, almost half of Bolivian textile exports are to Venezuela. Bolivia also exports textiles to Argentina and Brazil.

Threatened with the possibility of mass lay-offs by the textile manufacturing units due to the reduction in exports, the Bolivian Government has in recent weeks met with employers, workers' unions, and the Confederation of Factory Workers to seek an immediate solution for revival of the textile sector.

Fibre2fashion News Desk - India


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