Argentine textile industry: An export snapshot Top Stories ‘Exports to Iran will rise on lifting of sanctions’ Gobo clears RSI. 1,100-car agro export scheme Coir sector should be given more support: Prang Iran briefs India over landmark nuclear deal Andorra coast faces another cyclone threat Wrapping Katie | 01 Gag, 2008 What is Argentina? “Batter that has not become a cake”, says Gabriele Noiseless and Gracie R. Montanan in their co-authored book ‘The Argentina Reader: History, Culture, Politics’.
Argentina is the nation that used to be among the richest in the oral, with the largest middle class in Latin America, yet that entered the twenty-first century seething with economic crisis and frustration. But Argentina is also a beautiful country that possesses stunning natural wonders- desert, mountains, lakes, glaciers, falls and oceans; a country that is refreshingly European with a passionate culture, not as European as it looks but offers a European-flavored sophistication; a country of misery and squalor surrounded by large extensions of fertile land- the other Argentina.
And for most of us, Argentina is the birthplace of football legend Diego Maroon – a country where an interest in occur may be all one needs to make friendship with the locals. Argentine economy: An overview Argentina is the third largest market of Latin America after Brazil and Mexico. It is rich in natural, mineral and energy resources. It has the eighth largest land area but a small population of 40 million. It was one of the top ten richest countries in the world before the Second World War and has the potential to regain its past glory. Argentina textile industry By assurance’s financial collapse and political instability) since 2003. In December 2005, the government repaid 9 billion dollars of debt to MIFF ahead of schedule and is now free room MIFF intervention in its domestic policies. The external debt situation is under control now. Currency and Exchange rates have been stable since 2003. Fiscal deficit has been controlled and made into surplus. Exports are booming, thanks to the high demand and prices for Argentine exports. The recovery since 2003 is vigorous, strong and impressive.
The top ten Indian exports to Argentina in 2007 are organic chemicals, equipments & machinery, electronics, synthetic fibers, automobiles, iron & steel, plastics, dyes & paints, cotton, and pharmaceuticals while the top ten imports by India from Argentina during the period are soy oil, copper, sunflower oil, wheat, leather, iron & steel, motors & pumps, wool, industrial robots, automobiles The textile and apparel sector has shown significant growth since 2002. During 2004, the textile sector grew 75 percent, the highest growth recorded for any industry sector in the Argentine economy that year.
Positive activity continued through 2005 & 2006 due to consumption booms, driven by increased general purchasing power and rapidly growing inflows of tourists buying Argentine textile and apparel products. The total Argentinean textile market is estimated to be worth IIS$ 12 Billion. The clothing industry of Argentina is expected to grow steadily in the coming years in view of the growing demand for high fashion garments and its exports and the yeoman local retail sector consisting of local and foreign players.
Argentinaäwas clothing preferences have leaned towards designs and brand names which are important, especially to the younger generation who are influenced by the US life styles and friends. The all Apparel industry is fragmented and more than 65% is run by small family units employing on an average 50 people. The Argentinean textile and garment industry though self sufficient to an extent still heavily depend upon import of synthetic fibers and fabrics and novelty items like accessories. They also concentrate n niche products.
In view of the local designer and trendy retail stores, Buenos Aries is emerging as the fashion capital of the South American region. According to the Argentine Apparel Industrial Chamber, annual production of clothing items is valued at IIS$2. 27 billion. The sector boasts about 11,600 manufacturing and design companies and 30,100 retail stores. The economical apparel sector reaches annual sales of about IIS$ 5 billion per year, and this figure is expected to rise. However, only one third of these sales are legally recorded due to the prevalence of informal activity.
In terms of supplying the domestic market, there is a mix of methods applicable to the industry. Lower production costs have led companies from Brazil to install plants in Argentina. Most local firms carry out their manufacturing activity (raw materials and labor) in Argentina; other companies import fabrics, and/or send their designs overseas for manufacturing and receive the finished product (a method employed widely during the last decade) and a few licensees of foreign brands manufacture locally under an international label. Sub-sectors highly dependent on imports, such s sports footwear and high-tech apparel.
