Garment companies from Peru are promoting their exports to new markets, especially Brazil, Colombia and Ecuador, to counter the declining demand in the US market, according to a report by Lima Chamber of Commerce.
Last year, Peru's garment exports to Brazil increased by 91 percent year-on-year to US$ 75.3 million.
Similarly, Peru's apparel exports to Colombia grew by 8 percent year-on-year to US$ 43.5 million, while its exports to Ecuador rose by 73 percent y-o-y to US$ 16.5 million in 2011.
Peru's garment exports to these countries are growing as they are offering facilities for entry of Peruvian goods into their territories, according to experts.
Venezuela and the US account for nearly 70 percent of Peru's total clothing item exports, in spite of financial crisis and payment problems in these countries.
Fibre2fashion News Desk - India
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