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Poor economy and politics hurt Latin American textile industry

May 1st, 2010 / By: / Industry News

Brazil’s textile and apparel industry continues to thrive, despite the world economic crisis, based on its strong domestic consumption—approximately 80 percent of total sales. However, Texbrasil, a trade group, reported that 2009 Brazilian textile exports dropped by 40 percent, which interrupted the textile industry’s growing strength in Latin America. Political friction between Colombia and Venezuela, which has accounted for 65 percent of Colombia’s textile exports, has injured Colombia’s industry, one of three mainstays of its economy. Argentina is trying to stave off imports of stock from North American producers to protect its own apparel and textile industries. Overall, the garment industry in Latin America expects a modest rebound in sales in 2010, through a combined expansion into new markets and protective measures instituted to help nationalized industries.

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