Crisis affects textile industry in Central America

The financial crisis in the US, a vital market for Central American exports, has reduced the demand for textiles, causing a lot of companies to close.

Monday, December 15, 2008

In CA the industry is also facing strong competition from China since 2005 when the textiles quotas in accordance with the World Trade Organization came into effect.

The country that has been most affected is Nicaragua, where this year alone some 19000 jobs have been lost due to the close of at least 9 textile companies in the industrial parks belonging to the Free Zone Corporation.



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