In Guatemala, a Korean business group plans to invest in the start-up of a fabric factory in the municipality of Villa Nueva.
The fabrics that will be manufactured in the new industrial plant will be specialized and will supply other factories in the region, informed authorities and businessmen of the sector.
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 the first quarter of the year textile exports generated revenues of $192 million, 7% more than in the same period in 2014.
A report by the Bank of Guatemala indicates that as of February articles of clothing were the second most exported product. During 2014 this sector generated approximately $1.5 billion in exports, representing a growth of 12.6% in export volume.
On May 20th-22nd the XXIII edition of the Apparel Sourcing Show will be held with the presence of companies in the region and international buyers.
The international event will be held at the Grand Tikal Futura Hotel, where it is expected that 500 exhibiting companies will take part along with five thousand potential buyers from various textile countries in Latin America and elsewhere.
Manufacturers report that stocks of cotton thread and fabric have been low since March.
"There is barely any cotton thread or fabric and what exists is being sold at a very high price making production unprofitable," the General Manager of Tres Pro, Alejandro Ceballos, told Prensalibre.com.
Textile and apparel production is threatened by the lack of threads, cotton and canvas.
Since the beginning of the year, the textile industry has experienced a shortage of raw materials. The situation worsened in the last month, causing delays for exporting and reduced supply for the domestic market.
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