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Peruvian textile exports rebounded in June and group

Peruvian exports of apparel sector in June totaled $ 111 million, an increase of 2% over the same period last year. According to Business Intelligence Area Association of Exporters (ADEX), the industry gave its first signs of recovery despite that, during the same period, shipments of clothing to Venezuela experienced a 50% drop.

"Increased demand from the U.S. market is becoming increasingly more powerful and finally begins to be reflected in export figures and compensate poor performance of the Venezuelan market, "the group said.

In the first five months of the year, U.S. participation in total export cake also increased from 52% in 2009 to 62% in 2010.

Alfredo Camones, Camones Textiles general manager, said that in addition to the increased demand from the U.S. market, the best export performance in responding to the diversification efforts that have made companies and has led to countries like Brazil (which until two years ago was not included in the ranking of export) to consolidate in third place of destination of Peruvian clothing. Showed the same positive trend of textile exports, which exceeded $ 38 million in June, an expansion of 21% compared to the same period in 2009.

A recent report by the Institute of Economic and Social Research of the National Society of Industries, based on data from INEI, revealed that in the first four months of 2010 the manufacture of clothing (which has a strong component external demand) recorded a cumulative growth of 50.1% and 2.3% contributes to the expansion of manufacturing in this period. In 2009, local production shrank 23%, representing the biggest drop in 15 years.

Rising concern

Pedro Gamio, former Chairman of the Garment ADEX, said it is experiencing rising cotton prices and falling exchange rate could threaten the recovery of the sector. "The mood is good, but these issues could make the recovery process is slower than expected," he said.

The data in the first four months of the year, the price of cotton fiber (main input for the textile industry) increased by 30%, according to the National Society of Industries. (ADEX)