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 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.

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