Argentina'S Textile And Garment Industry Is Facing A Worsening Crisis.

According to the industry profile of this year (2019) in October, according to the CIAI (Argentina garment industry chamber of Commerce), according to the Argentina Federation of medium-sized enterprises (Co) Nfederacion Argentina de la Mediana Empresa (CAME) report shows that the purchasing power of the people of Argentine declined sharply, resulting in a 17.6% decline in the retail sales of garments in August 2019.

Although the clothing industry has tried not to inflate the price of clothing with inflation, sales are still falling. Argentina's National Bureau of Statistics (INDEC) pointed out that clothing sales in shopping centres and supermarkets decreased by 6.4% and 12.1% respectively in July 2019 compared with the same period last year.

CIAI said that the industry has been severely affected by the declining purchasing power of consumers and the high cost of Taxation and finance, which has seriously affected the normal development of the textile and garment industry. According to the INDEC report, the apparel industry in August declined by 12.8% compared with the same period last year, which has been declining for 15 consecutive months.

In addition, because of the decline in domestic clothing sales and the appreciation of the US dollar, the import of clothing was hit. According to customs statistics of the Arab countries, clothing import decreased by 35.8% in August (the number decreased by 31.8%, and the selling price dropped by 5.9%).