Mexico/imported textiles underpriced



According to a report by Mexico’s “Economist” on January 26, the Mexican textile industry department asked the federal government to strengthen legal competition in the domestic market in 2015…

According to a report by Mexico’s “Economist” on January 26, the Mexican textile industry department asked the federal government to strengthen legal competition in the domestic market in 2015 because the industry has been severely hit in recent years. From January 2013 to November 2014 alone, the total tax evasion due to undervaluation of imported clothing and fabrics amounted to 19 billion pesos (approximately US$1.4 billion). That means every Mexican has 15 items of illegally sourced clothing hanging on their clothes rack. Francisco Menghe, president of the Federation of Industrial Chambers of Commerce, said that at the end of November last year, the price of 61% of imported textiles was lower than the international price of raw materials. In 2013, this proportion was 13%. The proportion of undervalued garment import prices increased from 23% in January 2013 to 50% in November 2014. Sergio de la Certa, president of the National Chamber of the Mexican Garment Industry, said that from October 2013 to October 2014, the employment rate in the Mexican garment industry has decreased by 5%.

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Author: clsrich

 
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