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Guatemalan textile exports may jump 4-5% in 2014: Vestex
02
Jan '14
The textile industry in Guatemala is estimating its exports to rise between 4 and 5 percent in 2014, as the supply to Haiti and Nicaragua is increasing, according to Association of Apparel and Textile Industry (Vestex), siglo21.com reported.
 
Vestex president Alejandro Ceballos expects Guatemalan textile exports to the US, its major trading partner, to remain stable in 2014. According to him, Guatemalan textile industry cannot increase its sales because it does not have the capacity to increase production.
 
He said that in 2014 the textile industry will have to identify new niche markets in Europe, to benefit from the Association Agreement between Central America and the European Union.
 
He added that the domestic enterprises would have to add value to each garment in order to remain competitive.
 
From January to September 2013, apparel exports from Guatemala touched US$ 1.146 billion, registering a growth of 7.7 percent over exports of US$ 1.064 billion made during the corresponding period of 2012.
 
In 2012, Guatemala exported 297.3 million pieces of garments valued at US$ 1.189 million.
 
The Guatemalan textile and apparel sector includes 129 apparel companies, 39 textile factories and mills, 260 service and accessory companies that together employ 90,000 people directly and indirectly, of which 46 percent are women, according to Vestex.
 

Fibre2fashion News Desk - India

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