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T&C export cluster optimistic of 2010

06
Jul '10
Gamarra is a big exporting cluster made up of textile and clothing companies in Lima, the capital of Peru. The 2009 global economic crisis had vastly reduced exports from the sector.

But now, the entrepreneurs from the cluster are optimistic that the value of exports in 2010 will match figures of those achieved in 2007, now that the crisis is over.

Exports from the textile and apparel sector had slipped to just US $1.4 billion in 2009 from over $2 billion achieved in 2007, mainly due to slowdown in its key overseas markets.

US is the main buyer of Peruvian textiles and clothing, but sales to neighbouring countries like Chile, Colombia, Ecuador, Bolivia and Argentina are improving.

Venezuela at one time was one of the key buyers of Peruvian goods, but in recent years imports from that country had fallen in magnitude.

Fibre2fashion News Desk - India


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