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Brazil imports $5bn of textiles in Jan-Sept 2013: ABIT
21
Oct '13
Brazil has imported more than US$ 5 billion worth of textiles between the period of January and September, 2013, as per the estimates of Brazilian Association of Textile and Apparel (ABIT).
 
According to a statement issued by ABIT, the sector also incurred a loss of 598,000 jobs during the first nine months of the year.
 
As per the ‘Importômetro’, an ABIT indicator marking the value of imports of textiles entering Brazil, the country’s clothing imports grew by 4.5 percent year-on-year in value, from January to August 2013, whereas the exports fell 1.4 percent year-on-year during the period.
 
However, during the first seven months of 2013, the volume of retail sales increased 3.4 percent compared to the same period in 2012, while the textile and clothing production dipped by 3.1 and 2.2 percent year-on-year respectively, during the period.
 
In June 2013, the ABIT proposed the Competitive Tax Regime for Garment (RTCC) to fight unfair imports as well as to increase competitiveness of the garment sector of the country.
 
According to the proposal, the RTCC would aim to redeem and empower the entire textile chain of the country, as well as reduce the federal taxes up to 5 percent of revenue for garments.
 
Aguinaldo Diniz Filho, president of ABIT, said the scenario of competition has long ceased to exist in Brazilian textile and apparel companies and the country is far from the race in international market, and is considered to be one of the worst markets in terms of production.
 
Brazil is in urgent need to change this situation and has to increase competitiveness of its textile and apparel firms, in order to face the international market, he added.
 

Fibre2fashion News Desk - India


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