In the first quarter of the year, this industry presented a 14% drop in its exports, with $615.3 million.

The outlook for the textile industry in El Salvador is not favorable for 2023, due to the excess inventories that occurred during the pandemic and that continue to impact the performance of world and Salvadoran exports. Between January and March, this industry presented a drop of 14% and by the end of the year it could be 10%, the Chamber of the Textile Industry (CAMTEX) detailed this morning.

"It is difficult to project because there are so many variables such as brand interest and excess inventory, but I do think that it will see a slight decrease, it is risky but it could be 10%, but it is difficult to read, hopefully it will reversed but the issue of inventories continues to exist”, explained Patricia Figueroa, executive director of CAMTEX.

 

Mauricio Rodríguez, commercial technical manager explained that "we will most likely have a decrease due to everything that is happening in the world and we will depend on the 'rearrangements' that all industries generate."

Source:
https://www.laprensagrafica.com/economia/Sector-textil-preve-una-caida-del-10–al-cierre-de-2023-20230517-0026.html