EL SALVADOR: Textile industry to grow 12% in 2011
El Salvador's textile and apparel industry expects to grow 12% in 2011 on the back of rising US exports and efforts to bolster its competitiveness, according to Patricia Figueroa, general manager of top trade lobby Camtex.
The growth spurt, however, will be less than the 32% achieved last year when the industry recovered from a sharp contraction in 2009.
According to Figueroa, the industry has won several new sourcing contracts with US customers that will significantly boost exports in coming months.
"Our companies are constantly marketing themselves and many have won new contracts in recent months," Figueroa said without disclosing more details.
According to Camtex, employment will also grow this year to 70,244 workers - accounting for 13% of the country's total.
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