Nicaragua: Clothing Market Decreasing

Imports of footwear and clothing fell 8% in the first half of the year compared to the same period in 2017, and production in the country contracted by around 30%.

Monday, October 15, 2018

According to representatives of the guilds of the Nicaraguan Chamber of Leather Shoes (CNCC), and the Nicaraguan Chamber of Leather and Footwear (Camcunic), in the first six months the local production of clothing and footwear has decreased by about 30%.

Figures from the Central Bank of Nicaragua detail that from January to June of this year the value of imports of footwear and clothing reached $65 million, 8% less than the $71 million reported in the first semester of 2017.

See "Clothing: Imports increase 3%"

Alejandro Delgado, president of Camcunic, said to that "... This reduction in imports could be until the end of the year, because importers did not place large orders for two reasons: fear that the situation will not normalize by the end of the year and limited financing."

You may be interested in "Central America: Footwear market figures up to 2018"

On the other hand, Santos Reyes, president of CNCC, explained that "... The workshops are not producing at the same capacity, so national footwear is not being consumed. If this had not happened (crisis), everything would be different. The workshops would not have stopped production and we would have managed the growth that we had been proposing year after year, which is 12% and 14%."

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