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Peru's clothing exports decline 13.6% in Jan-Oct 2013
19
Dec '13
Exports of Peruvian clothing during the January to October 2013 period touched US$ 1.1 billion, indicating a decline of 13.6 percent compared to the same period last year, as per the Apparel Committee of the Peruvian Association of Exporters (ADEX).
 
According to a statement issued by ADEX, Pedro Gamio, chairman of the ADEX Apparel Committee, said this year exports of Peruvian clothing have declined but next year the prospects of exports are higher owing to the economic recovery of the major markets for Peruvian clothing.
 
According to the ADEX official, the US remained the main destination for Peruvian clothing exports, with the country exporting apparel worth US$ 522 million during the first ten months of 2013. Venezuela maintained the second position, however, Mr. Gamio said orders for Peruvian clothing declined by 40.6 percent year-on-year from Venezuela, during the period.
 
The ADEX official said clothing exports from Peru would have better prospects in 2014, owing to the revival of the US economy, as well as increased orders from Brazil and better exploitation of markets in Mexico, especially after the exclusion of duty for entry of Peruvian garments in the country.
 
Mr. Gamio said the garment industry is important for the development of the Peruvian economy, and it was necessary to not increase labor costs, in order to recover the growth rates of previous years. Enterprises operating in the apparel sector of Peru are competitive but it is essential for them to be given the environment for increasing productivity and ensure development, he added.
 
According to ADEX data, Peruvian apparel shipments to foreign countries during January to July 2013 totaled to US $ 735.5 million, which was a decrease of 16.5 percent year-on-year. The US was the main destination where Peruvian apparel worth US$ 363 million was shipped, followed by Venezuela where apparel worth US$ 148.8 million was shipped during the January-July 2013 period.
 

Fibre2fashion News Desk - India


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