Importance of the Textile Industry in Peru

The textile and garment industry in Peru has one of the highest growth rates in exports in the last decade, with the industrial sector having the highest demand for specialized jobs. Peruvian textiles are recognized for the high quality of their fibers, such as cotton and alpaca; Producing for the most important brands in the world such as Lacoste, Abercrombie & Fitch, Donna Karan, Tommy Hilfiger, Gap, Armani, Nike, bringing our products to markets in the United States, Europe, Canada and Latin American countries like Chile, Venezuela and Ecuador. On the other hand, in the domestic market have been developed chains of stores with own brands such as Exit, Dunkenvolk, Bugui, Kids Made Here, Scombro, Topitop and brands of independent textile designers with their own boutiques, which are growing by demand, To the rhythm of the appearance of new commercial centers, product of the sustained economic growth of our country

In Peru, companies engaged in textile production are integrated throughout the production process, becoming a competitive advantage, together with the quality of Peruvian fibers that are considered among the best in the world (cotton, alpaca wool and vicuna ) And the proximity of its main market (USA); This has allowed the textile and clothing industry to present an increasing trend in their production. The garments being one of the main products, whose importance lies in the greater added value that it presents.

The monetary income to Peru granted by the industries, when exporting their textile production is important since; Consequently to the elaboration of these raw materials is given to the state a percentage of the profits either by the IGV or payment when exporting the realized goods. The economy of Peru is currently maintained and does not progress, so when exporting textile production this will generate profits for both industry and the country in general.

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FAVORABLE AND UNFAVORABLE ASPECTS OF TEXTILE PRODUCTION:

1.      Favorable aspects

·         Labor: In Peru the production of textile production is of high quality.

·         Prices of inputs and labor: Prices are competitive in inputs and labor; Thus reducing production costs in the industry.

·         Quality: Meets the highest international standards.

2.      Unfavorable aspects

·         Land use: People tend to plant another type of crop if the cotton is not profitable or does not fit the soil where it was planted; In this way the quantities of cotton production are reduced.

·         Insufficient investment: During the last years the investment made in this industry has been less than necessary to achieve a competitive offer worldwide.

·         Changes in the international market: NAFTA agreements cause prices of finished products to fall, leading to increased competitive pressure and thus making it more difficult to compete internationally.

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