Honduran Socks Exports on the Rise

After the U.S. socks tariff was waived on January 1st, exports have increased 15%.

Friday, July 31, 2009

An article in Laprensa.hn reports that "Gullermo Matamoros, director of the Honduran Maquila Association, explained that despite the global crisis, Honduras remains the world's top exporter of the product. Growth in dollars amounts to eight million, and if the trend continues, it could reach $20 million by the end of the year. Matamoros added that $150 million were exported in 2008, and for this year $170 million are forecasted".

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Honduran Sock Exports Double

December 2009

Socks exports to the United States will reach $5.4 million by the end of the year, 101% more than 2008, when $2.7 million were sold.

"Honduras textile industry improved in this segment, despite the fact that total textile and apparel exports to the U.S. fell 7%", commented Guillermo Matamoros, director of the Honduran Maquila Association (AHM).

US suspends tariffs on Honduran socks

January 2009

Since Thursday January 1, the United States has suspended the temporary 7% tariff that it had imposed on sock coming from Honduras.

Nacion.com reported that "this means that Honduras is free from restrictions to export socks and now has a huge opportunity for growth in this area, said Jesus Canahuati, head of the Maquilas Associations, to AP."

US sock makers wage war on Gildan imports

May 2008

Just two years after launching an ambitious plan to become a major player in the North American hosiery business, Gildan Activewear Inc. finds itself caught up in an international trade dispute over the flood of socks into the U.S. from Honduras.

In a politically charged anti-free-trade crusade, independent U.S.

US to impose tariff on Honduran sock imports

April 2008

The Bush administration decided yesterday to impose a 5 percent tariff on Honduran socks later this year after finding that imports of low-priced cotton footwear from Central America were hurting struggling sock makers in North Carolina and Alabama.

Though the move could temporarily improve U.S.-made sock sales by boosting the price of Honduran socks, smaller domestic sock makers called the gesture a sham that will do little to prop up their rapidly vanishing businesses.

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