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Peru's textile exports drop 16% in Jan-July'13
Sep '13
The exports of textiles and apparel from the South American country of Peru have declined by 16 percent year-on-year during the first seven months of 2013, Minister of Foreign Trade and Tourism Magali Silva Velarde-Alvarez has said.
During a presentation to the Commission of Foreign Trade Congress, Ms. Silva said Peru exported textiles worth US$ 1.018 billion during January to July 2013, which is US$ 196 million less than the US$ 1.214 billion worth of exports made during the corresponding period of last year, rpp.com.pe reported.
The Minister said the drop in textile and garment exports was mainly due to reduced purchases from Venezuela, which has witnessed political instability this year and it does not allow free conversion of bolivars to dollars.
The exports of chemical industry declined by US$ 111 million or 11.6 percent to US$ 849 million during the seven-month period, compared to exports worth US$ 960 million made during the same period of 2012, Ms. Silva said.
She, however, expressed hope that the rate of decline in exports would reduce by the end of the year, primarily due to the recovery of the US market, and the expected increased flow of orders from that country.

Fibre2fashion News Desk - India

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