Nicaragua textile industry is facing another wave of crisis

Nicaragua textile industry is facing another wave of crisis

Dean Garcia, chief executive of the Nicaraguan Textile and Apparel Industry Association, said that due to the dramatic increase in international cotton prices in 2010, Nicaragua's clothing industry operators will experience a dramatic increase in operating costs, but only if the global market demand has not yet recovered and additional costs cannot be passed on to the terminal. , Ming (2011) Nicaragua textile and garment manufacturers may face the impact of another wave of crisis since the 2008 economic downturn.

Due to the sharp increase in demand for cotton in mainland China, the international cotton price recorded a new record in November. In total, cotton prices have risen by 56% in the past three months; and compared with the same period of last year, Nicaragua's companies face severe market challenges. Actively discuss the approach.

Based on this, the Executive Director suggested that operators should adopt cost-reduction management methods as far as possible, and hoped that the Nicaraguan customs unit could provide convenient customs clearance measures to reduce the cost of customs clearance for the operators.

Although the U.S. and international economic conditions have grown slowly, Nicaragua's garment manufacturers’ exports have picked up slightly, but the U.S. will give preferential treatment to the textile industry in Nicaragua (TPL, Trade Preferences Level) based on the US, the Central America and the Dominican Republic, the Free Trade Agreement (CAFTA). Expiration in 2014 also constitutes one of the important variables affecting the operation of the textile industry.

In short, in the face of rapid changes in market conditions, Nicaragua's textile and garment industry's primary issue is how to grasp sound management strategies and seek sustainable development.

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