The competitiveness of Peru’s textile industry is affected by China
Peruvian Production Minister Piero Hayez said on Monday that the competitiveness of the country’s textile industry is not only affected by China, but also by low labor cost countries such as Vietnam and El Salvador.
The minister believes that it is difficult for Peru to compete with the cheap labor of these two countries, nor can it compete with the flexibility of the labor system. “The minimum wage in Peru is 750 soles, about 250 U.S. dollars. Vietnam only has 60 U.S. dollars. Vietnam exports clothing at $3/piece, Peru exports clothing at $10/piece, and Italy exports clothing at $30/piece. Peru should take the high-end route. And increase the price of clothing. Camel cashmere clothing is doing well, while cotton clothing is the opposite. This is the best example.” The competitiveness of Peru’s textile industry is affected by China
AAA
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