January-September Venezuelan largest exporter of Peruvian textiles

According to Peru’s official statistics, the amount of Peru’s exports to Venezuela from January to September this year was approximately US$445 million, an increase of 113.8% compared to the same period last year. This figure shows that Venezuela surpassed the United States as the largest exporter of Peruvian textiles. At present, Peru’s textile exports to Venezuela account for 32% of its total exports. The United States was once the largest export market for Peruvian textiles, accounting for 45% of its total exports. However, due to the increase in US imports from Vietnam and other Asian markets, it has caused a considerable impact on Peru.

Peru’s MetisGaia Consultancy Company stated that although the increase in Venezuela’s exports has made up for the downturn in the US and European markets due to the financial and economic crisis, over-reliance on this highly unstable and over-regulated market is not wise for local exporters. way of doing. To maintain and strengthen the achievements and development of the textile industry in the past decade, we should actively seek new business models, new markets, and new developments in the future.

The company believes that it is necessary to strengthen the expansion of the South American market (eg, Argentina, Brazil) and use the advantages of tariffs to expand its market share in these emerging markets.

Although Peru currently sells ready-to-wear, baby wear and cotton shirts to these two markets, the industry believes that there is still room for growth.

This year, Brazil exceeded Colombia for the first time as Peru’s third-largest clothing exporter, accounting for 5% of total exports. Markets in Ecuador, Bolivia, and Colombia are also quite promising, and future demand for high-quality cotton and textiles is expected to grow even more.