Guatemala: Textile Exports Recover
After a big drop in 2009, sales abroad have seen a 17.6% increase in the first half of 2010.
Thursday, August 19, 2010
According to information from Vestex, the Guatemalan association of textile and apparel manufacturers, in the first six months of this year the sector's exports totaled $705.2 million, 17.6% higher than the $599.6 million exported in the same period of 2009.
In April, Guatemala exported $82 million more textile goods than in the same period of 2009.
The impact of the economic crisis in the United States has had on the textile industry has forced 15 Korean businesses to shut down operations in the country.
Guatemala's textile industry is changing from exporter of finished products to one that provides raw materials to manufacturers in other Central American countries.
After a tough first semester 2012, which saw a significantly decline in orders from the main market of the Guatemalan textile industry, the recovery began in June.
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