On November 5, a 37.9% tariff was charged on imports of clothing when its declared FOB price is less than or equal to $20, which affects businessmen in the Colon Free Zone in Panama.
Decree No. 1416 of the Ministry of Commerce, Industry and Tourism of Colombia, dated August 6, 2019 and which has just come into force, states in its Article 1 that "... a tariff of 37.9% on imports of products classified in Chapters 61 and 62 of the National Customs Tariff, when the declared FOB price is less than or equal to US$20 per kilogram gross."
The Colombian company Patprimo invested in the opening of two stores located in Curridabat and Escazú, with an estimated investment of around $800 thousand.
The South American company reported that the investment in the operation of the premises in Multiplaza Curridabat and Multiplaza Escazú totaled $800,000, and will sell clothing such as dresses, shoes, accessories, jeans, blouses, casual clothing and underwear, among other items.
The owners of the Runway, NK Collection and Todo Jeans stores opened their first point of sale in a shopping mall in Santa Ana, and plan to open more in the coming years.
The Nicaraguan company opened its first women's clothing store, Runway Costa Rica, in the Santa Ana Town Center, and required over $200,000 in investment.
Imports of garments and clothing accessories reached $332 million during the first three months of the year, 3% more than what was reported in the same period in 2017.
Figures from the information system of the Central American Clothing and Clothing Accessories Market, from the Trade Intelligence Area of CentralAmericaData: [GRAFICA caption="Click to interact with the graph"]
Last year Central America imported $1.467 billion worth of clothing and clothing accessories, the highest value in the last six years, registering a 15% increase compared to 2016.
Figures from the information system on the Market for Apparel and Clothing Accessories in Central America, compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption = "Click to interact with graph"]
Between January and September of 2017, Central American countries imported $977 million worth of clothing and accessories, 14% more than in the same period in 2016.
Figures from the information system on theApparel and Clothing Market in Central America, compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption = "Click to interact with graph"]
In 2016, the value of imported clothing and accessories totaled $1,279 million, 13% less than imports in 2015.
Figures from the information system on the Apparel and Clothing Market in Central America, compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption = "Click to interact with the graph"]
In 2014 a special unit was created to deal with complaints about the marketing of fake garments, and since then it has received an average of five complaints a month.
The market for fake clothing brands in the country has been growing, according to the authorities at the Economic, Tax and Customs Crimes Prosecutor's office, which claims to receive five complaints per month.
The government has extended, until December 31 this year, the decree from August 2016 that temporarily increases import tariffs for flowers, coal, clinker and clothing.
From a statement issued by the Presidency of Panama:
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