According to the Peruvian “Business Daily” report, Jose, chairman of the textile branch of the Peruvian National Industrial Association, pointed out that the financial crisis has not posed a threat to the Peruvian garment industry and believes that the vitality of the industry can enable it to survive the current unfavorable international situation. The Peruvian garment industry is expected to grow by 16% in 2008.
From January to October 2008, Peruvian clothing exports increased by 21%. Among them, exports to the United States account for 51% of Peruvian clothing exports, and demand in the United States has dropped by 20% since August. Venezuela’s share of Peruvian apparel exports increased from 25% in 2007 to 32% in October 2008. The average price of Peruvian garment exports has remained above US$6.3 in recent years.
Jose said that the entry into force of the free trade agreement with the United States will help Peruvian exporters choose more small and medium-sized enterprises to expand clothing exports. The conclusion of a free trade agreement with China will further protect Peruvian sensitive products and make the prices of imported products more realistic. By expanding the export market, facing domestic demand, and providing state support, the Peruvian garment industry will still maintain growth in 2009.
