Peruvian textile and clothing expands exports to Latin American neighboring countries
The Peruvian Foreign Trade Association recently stated that the country’s textile and clothing export market in Latin America is gradually expanding and consolidating, and its strategy of replacing European and American markets with Latin America is achieving results.
The association’s report shows that Peruvian textile and apparel companies promptly adjusted their market strategies when developed countries were in crisis and their economic growth was full of uncertainty, and shifted their expansion direction to Latin America and the Asia-Pacific region. The Latin American market has now become the main driver of growth in Peruvian apparel exports.
According to statistics, Venezuela imported a total of US$134 million of Peruvian textiles in 2011, an increase of 189% over 2010; Brazil’s imports were US$26 million, a year-on-year increase of 39%; Chile’s imports reached US$19 million, a year-on-year increase of 18%. At the same time, Peru’s traditional markets, developed countries in Europe and the United States, are suffering from crises, with their markets shrinking and imports declining. Data show that the United States imported a total of US$160 million in Peruvian textiles last year, down 17% from 2010; Italy imported US$15 million, down 5%; Germany imported US$9 million, down 8%.
The Peruvian Foreign Trade Association announced that, except for fur clothing, Peruvian textile and clothing production increased by 57% and 12% respectively in 2010 and 2011. In the first quarter of this year, Peruvian textile and clothing exports increased by 18% year-on-year. Peru’s main export textiles include solid-color cotton T-shirts, various T-shirts and knitted cotton shirts.
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