Textile Industry: A decade of Good Numbers

Between 2010 and 2019 exports of textile companies in Guatemala reported an average annual growth of 2%, a rise that is attributed to demand from companies in the United States.

Monday, February 10, 2020

According to figures from the Bank of Guatemala (Banguat), the manufacture of clothing items was the sector that generated more foreign exchange during the past year, as revenues amounted to $ 1,397 million.

You may be interested in "Clothing: Top players in Costa Rica"

Alejandro Ceballos, president of the Clothing and Textile Commission (Vestex), told Prensalibre.com that "... a production peak was reached which reactivated the industry and created up to 60,000 jobs."

Although sales have been rising, there are factors that do not allow local production to rise further.

Ceballos said that "... the decision of the Constitutional Court (CC) to suspend the hiring of part-time staff, forced that in Guatemala, fabrics were manufactured, but that the clothing was in Nicaragua, by labor."

According to estimates by the president of Vestex, nearly 20,000 jobs were lost because of the CC's decision.

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Coronavirus: Every Crisis Brings an Opportunity

March 2020

Following the spread of the virus globally and the suspension of some production in China, several garment companies in the region have reported increases in their orders.

The spread of the epidemic has stopped much of the economic activity of the Asian giant, which is the largest exporter of textiles in the world. This situation has forced buyers to look for alternatives.

Textile Sector Begins 2019 Upwards

April 2019

During the first two months of the year, exports of the Guatemalan textile sector registered a 4% year-on-year increase, which is explained by demand from U.S. companies.

According to the most recent figures from the Bank of Guatemala, between the first two months of 2018 and the same period in 2019, overall exports fell from $1.808 million to $1.751 million.

Guatemala: Record Figures for the Textile Sector

November 2018

Businessmen consider that 2018 will be a year with record sales for the country, as they projected exports of $1.724 million, a figure that would exceed 12% of what was reported in 2017.

Representatives of the Apparel and Textile Industry Association (Vestex) reported that they have recently reviewed the figures, and they estimate that this year the sector will have double-digit growth compared to 2017.

Guatemalan Textile Exports Drop by 29%

April 2009

Sector entrepreneurs are focused on increasing the added value of the garments to offset the fall in demand abroad.

According to the Commission on Textiles and Clothing (Vestex) of the Guatemalan Association of Exporters (Agex-port), there were $202 million exported in January and February 2009, $84.2 million less than during the same period last year when the total was $286.2 million.

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