Argentina'S Textile Industry Is Recovering, And The Investment Is Expected To Reach 200 Million US Dollars This Year

According to media reports, Argentina's Fundacion protejer reported that Argentina's textile industry has returned to its pre epidemic level, with an estimated investment of US $200 million in 2021. At the same time, it pointed out that Argentina's textile industry has great potential. Although about 25000 jobs were lost and the number of illegal employees increased during 2015-2019, the textile industry will re provide 2500 jobs in 2021.

From January to September 2021, the investment in Argentina's textile industry will be the same as that in 2015. If compared with that in 2020, the investment in Argentina's textile industry will grow by 94%, in which the utilization rate of equipment in the textile industry will increase by 2.7% compared with that in 2019.

As for the import of Argentina's textile industry, compared with that in 2019, it shows a growth, but the structure is different. Due to the increase in demand, the import of extended textile parts and consumables increased, and the import of finished products decreased. Luciano galfione, Secretary General of protejer, said the import of capital goods will set a new record this year and the industry's outlook is optimistic. To this end, galfione believes that it is necessary to continue to consolidate the domestic market and to export.

60% of Argentina's textiles are imported, of which synthetic fiber and cotton are increased by 70% and 100% respectively, and freight is increased by 6 times.