Guatemalan Textile Industry Lost 18,000 Jobs

The 30% contraction in exports during the month of January affected the workforce directly with a reduction of 18,000 jobs.

Thursday, February 26, 2009

Alejandro Ceballos, President of the Garment and Textiles Commission (Vestex) informed "In five years, we have lost 60,000 jobs.

For 2009, we expect the exports of that sector to be equal to the ones from last year, when it was at $1.4 billion USD. We do not expect growth, rather, the challenge is for there not to be a decline."

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The transfer of three Korean operations operating in the country and an uncertainty in fiscal terms for the new period, have kept the sector in suspense.

Historically Guatemala has been one of the most competitive countries in the textile industry, but the legislative backlog in extending incentives to maquila companies and free zones regimes, and the departure of three Korean companies in the country in the last year, have placed the sector in a state of uncertainty.

El Salvador Lost 5.000 Jobs in 4 Months

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Despite a mild recovery in some sectors, the economy has shredded 5.000 jobs in the first four months of the year.

Carlos Acevedo, president of the Central Bank of El Salvador (BCR), noted that the figure is an improvement when compared to the same period of 2009, when the economy lost 40,000 jobs.

Salvadoran Industry Lost 18.000 Jobs in 2009

December 2009

The manufacturing industry of El Salvador was the hardest-hit by the global economic crisis.

The textile industry was the worst performing, losing 14.000 jobs, followed by the food industry (1.600 jobs), pharmaceutics, rubber, minerals and iron.

A report developed by the Salvadoran Industry Association (ASI) states: "As for production, industry will close 2009 with a 2.5% drop, in line with GDP projections...".

El Salvador: 39.000 Jobs Lost in 2009

August 2009

Industry and the private sector are the most affected, according to the Salvadoran Social Security Institute.

Victoria de Avilés, Labor Minister, remarked that "there is a loss of jobs, and by the end of the year it could increase to 55.000...".

"Job losses has been exacerbated by the economy's 'low dynamism', with sectors like commerce reporting considerable less sales", publishes

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