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Brazil imports $6.7bn of textiles & apparel in 2013: ABIT
27
Jan '14
The Latin American country of Brazil imported textiles and clothing worth US$ 6.7 billion during the year 2013, indicating an increase of 2.4 percent, compared to 2012, as per the estimates of Brazilian Association of Textile and Apparel (ABIT).
 
According to the statement issued by the ABIT, the textile and clothing sector of the country closed the year 2013 with another deficit in its balance of trade for the eighth consecutive time.
 
During 2013, the imports of clothing itself reached US$ 2.37 billion, indicating a rise of 9.1 percent compared to the apparel imports worth US$ 2.17 billion in the year 2012.
 
As per ABIT, the textile and clothing exports from the country touched US$ 1.26 billion last year, registering a decline of 1.4 percent, compared to 2012 when Brazil exported textile and apparel worth US$ 1.27 billion.
 
Rafael Cervone, the newly elected president of ABIT, said this year, in addition to pressure from Asian imports and heavy tax burden, the Brazilian textile industry would also be facing internal challenges that would hinder the increase of investment and production.
 
Such internal challenges include inflation, rise of interest rates, stagnant retail sales and insignificant growth of the manufacturing industry among others, and only an effective change in the direction of the economy could alter the situation, he added.
 
As per ABIT data, during the January to November 2013 period, the production in textiles incurred a fall of 1.82 percent year-on-year, whereas the production in the clothing sector registered a decrease of 2.43 percent compared to the same period in 2012.
 

Fibre2fashion News Desk-India


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