Affected By The New Crown, The Export Of Central American Textiles To The United States Declined Sharply

Affected by the spread of new crown pneumonia, almost all countries in the world have trade imbalance, and many countries have offered relevant epidemic prevention measures, resulting in the textile and garment industry in Central American countries facing almost no profit situation.

According to the U.S. government statistics, in the first half of 2019, the textile sales in Central America totaled 17.593 million US dollars, but in the same period of 2020, it dropped sharply to only 11.553 million US dollars, a decline of 34%. Statistics show that Panama (- 49%), El Salvador (- 48%) and Honduras (- 47%) have the largest recession, followed by Costa Rica (- 30%), Nicaragua (- 27%) and Guatemala (- 25%).

According to the Nicaraguan textile and garment industry association, the impact of new crown pneumonia is the first in history, and the textile industry in Central America is now barely able to make ends meet. In order to cope with the situation, clothing distributors have changed their business model from store sales to online sales. However, most businesses are still in a loss situation.