adv-06

Ecuador’s textile industry’s gross revenue declined from $1.38 billion in 2019 to $885 billion in 2020

adv-07

ecuadorThe textile industry’s turnover decreased by 36% from $1.38 billion in 2019 to $885 billion in 2020, according to Ecuador’s Internal Revenue Service (SRI). According to Javier Diaz, President of the Ecuadorian Association of Textile Industries, the industry lost $500 million last year. Meanwhile, employment in the textiles and manufacturing sectors has decreased by 29% and 20%, respectively. According to data from Ecuador’s Central Bank (BCE), the country went from exporting 26,000 tonne of textiles worth $103.8 million in 2019 to 28,400 tonne worth $104.4 million in 2019. This reflects a 9 percent rise in volume and a 1% increase in revenue. Higher demand for abacáfibre (used to make textiles and paper) and specialty items such as face masks, according to AITE, may explain the slight rise.

failed

We send out weekly newsletter.It's free!

Our intelligent team curate fresh news & updates to entertain our valued audience

You are almost done. Please check your inbox or spam folder to confirm your subscription.