The sector sold more than $615.30 million in the first quarter of the year, and is optimistic about maintaining favorable metrics towards the end of the year.

With a weight of 39% in total exports from El Salvador, equivalent to 9% of the gross domestic product (GDP), the textile, clothing and free zone sector is positioned as one of the most thriving industries in the country, he stated, this Wednesday, the executive director of the Chamber of the Textile Industry, Clothing and Free Zones of El Salvador (Camtex), Patricia Figueroa.

The executive highlighted that beyond international incidents, this industry is shown to be an important pillar for the "Salvadoran economy and social development due to its high number of jobs."

He explained that, in 2022, exports amounted to $2,751.7 million and generated more than 76,000 jobs and 17 free zone projects, and that, of the five most commercialized products abroad, four belong to this category.

In addition, it reported that, during the first quarter of 2023, the sector exported $615.30 million, a figure that is 14% less than the record for the same period of 2022, according to data from the Central Reserve Bank (BCR), and that implies an adjustment in international purchasing dynamics driven by excess inventories, according to Figueroa.

«(In recent years) the demand has been oversized by the brands and this has had a snowball effect, and we believe that this will be the share for this year, while the next one will be better, he considered.

In turn, he qualified that in the international commercial dynamics there is also an important movement of brands and retail buyers to mobilize production from Asia for the Central American region, and that, he foresees, will give very good results towards the end of the year.

"The industry has a high level of resilience and response capacity at any time and we have seen it over the years," said the spokesperson for the union.

On the other hand, he highlighted that the United States continues to be the largest trading partner of this industry, absorbing 75.2% of national production, followed by Central America that buys 19.8%, and the rest of the world with 5%.

Regarding recent investments, the Camtex representative highlighted two free zone projects: the recent inauguration of operations of Exporsalva II and the first eco-industrial zone in the country called Orion Industrial Park.

Source:
https://diarioelsalvador.com/sector-textil-y-confeccion-preve-estabilidad-en-2023/362058/