Salvadoran maquila exported 25% less
Ricardo Esmahan, minister of Economy, estimates a 25% drop in the last two months of 2008.
Thursday, January 8, 2009
According to reports from elsalvador.com "Ricardo Esmahan, minister of Economy, said yesterday that exports from the sector have been affected by the drop in textile consumption, not some much in value but in volume.
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.
According to the latest report from the International Labour Organisation (ILO) less jobs will be created in 2009 due to the economic crisis.
The bank announced that the measure is necessary in order to lower costs in the face of the difficult economic situation.
Official figures show that in the Free Zone sector alone, Nicaragua lost some 19 thousand jobs.
- Daily Update
- Government Purchases
- Classified Ads
- Indexes & Statistics
- Press Releases
- Events Calendar