2023 did not start on the right foot for the textile industry in El Salvador. The excess inventories that occurred during the pandemic 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%, according to official figures from the Chamber of the Textile Industry (CAMTEX).

"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.

In parallel, according to data from the Central Reserve Bank, exports from the sector reported a turnover of 615,3 million dollars during the first quarter of the year, a double-digit contraction compared to the same period last year.

Figueroa considers that this situation will continue the same for the remainder of this year, which has affected manufacturing companies that have had to suspend some 2500 direct jobs due to the lack of new contracts.

Source:
https://pe.fashionnetwork.com/news/La-industria-textil-de-el-salvador-espera-decrecer-un-10-este-ano,1519413.html