Nicaragua: Outlook for the Textile Sector

According to businessmen in the country's textile sector, as a result of the covid-19 pandemic, a reduction in work orders is expected during the second half of the year.

Wednesday, March 25, 2020

Representatives of the Nicaraguan Association of the Textile and Clothing Industry (Anitec), predict that with the closure of the stores of several of their clients, sales will be reduced considerably and inventory levels will increase.

See "Coronavirus: Forecasts for Business in Central America"

Dean Garcia, CEO of Anitec, told Laprensa.com.ni that "... In the fall in volume we are evaluating the situation, we do not have exact data, but there is a projection that the practical effect will be between 25% and 40% drop in production, because assume that this situation is solved in June, being very positive, there will be an effect all these months."

García added that "... every day things change so we are working on actions to see what we can do, we don't know how many jobs will be lost, but there will be effects."

Covid-19: How are the outlook changing for companies in the textile sector?

We prepared for our clients the report "Information System: Covid-19 and Business Outlook", which helps companies measure the impact the crisis will have on their activity in the coming months.

Click here to request access to this report.



More on this topic

Fabrics: Company Closes in Nicaragua

January 2020

The American Aalfs Uno, which operated in the municipality of Sébaco, in Matagalpa, closed its operations in the country due to a reduction in the number of contracts.

The closure of the company was made official by directors of the Nicaraguan Association of Textiles and Apparel Industry (Anitec), who say it is the first company in the U.S. capital sector to close in the country.

Textile Sector in 2020: Optimism in Nicaragua

January 2020

Despite global threats, such as the possibility of a global economic slowdown, businessmen in the sector are confident that their sales will continue to rise.

Companies operating under the free zone regime in the country, estimate that their sales abroad during 2019 amounted to about $ 1.7 billion, an amount that exceeds by 5% what was recorded in 2018.

Textiles Nicaragua: More Volume with Less Value

September 2016

The sector expects to close the year with a decline in the value of exports due to low international prices, but with an increase of about 10% in total production.

Textile entrepreneurs estimate that they may end the year with close to the planned target of 500 million square meters of production, but below the $1.5 billion in export value. 

Nicaragua: Optimism in Textile Industry

February 2016

Despite the challenges facing the Central American textile industry with the coming into force of the TPP and Asian competition, projections are that there will be growth of 8% in 2016.

The main reason is the decision of the US government to extend for ten years the tariff advantages enjoyed by Nicaraguan exports to the northern country, supporting them against the entry into force of the Trans-Pacific Economic Partnership Agreement (TPP).

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