Peru Garment Exports Up 75.1% Between Jan-May 2021

July 10, 2021

Category: GARMENTS

Country: Peru

Lima, Jul. 8.

Peruvian exports of clothing from January to May this year totaled US$421 million, an amount greater by 75.1% over the same period of 2020, the National Society of Industries (SNI) reported on Thursday.

The SNI stressed that exports value in May 2021 amounted to US$96 million and was the highest in the last 22 months.

According to SNI's Institute of Economic and Social Studies (IEES), this increase of over 70% responds mainly to a statistical component. If the exported value is compared with the pre-pandemic level (2019), the variation is +3.1%.

In 2020, exports were seriously affected by restriction measures due to the COVID-19 pandemic at the global level.

On the other hand, garment shipments totaled US$240 million in the recent January-May period, while these had totaled US$409 million in the same term of 2019.

Furthermore, the IEES stressed that the high value exported in May 2021 (US$96 million) is an amount that had not been registered since July 2019 (US$97 million).

According to data from the institution, exports to the United States accounted for 69% of the total shipments supported by sales worth US$289 million between January and May 2021.

Other important destinations for Peruvian apparel shipments were Canada (5.6% of the total), Chile (4.5%), Brazil (4.1%), Germany (2.3%), and Ecuador (1.7%).

Moreover, the IEES stressed that the high value exported last May responds to the growth of sales to its main destination countries. Exports that month versus its pre-pandemic level grew to the United States (15.3%), Brazil (25%), and Canada (77%).

"This indicates a favorable outlook for shipments to our main trading partners," the Institute of Economic and Social Studies (IEES) highlighted.

Exports to the U.S.

Analyzing shipments to the United States, the IEES detailed that apparel exports to that country expanded 77.3% between January and May 2021 over the same period in 2020 and rose by 2.1% if compared to the first five months of 2019.

The main items exported to this destination country were: T-shirts and knitted shirts, which totaled about US$130 million; knitted shirts for men and boys (US$47 million); sweaters, pullovers, and similar items (US$26 million); and other knitwear (US$19 million).

(END) NDP/MDV/MVB

Courtesy: https://andina.pe/Ingles/noticia-peru-garment-exports-up-751-between-janmay-2021-852498.aspx