Ecuador’s textile industry lost 36% of its turnover in 2020 amid declining local purchasing power

One of the great challenges of the sector is to understand the new demand, the needs of Ecuadorians and, above all, to adapt to the new level of household spending, which has contracted by more than 20%.

RIO DE JANEIRO, BRAZIL - The Ecuadorian textile industry is suffering the consequences of a challenging 2020, which came after almost 5 years of declining figures. The sector went from invoicing US$1.387 billion in its local market in 2019, to registering sales of US$886 million last year, a contraction of 36%, according to government figures.

In general, Ecuadorian industrialists are looking favorably on the country's domestic demand and seek to meet local purchases before thinking about exports. In addition, companies have opted to do most of their processes in-house and expand finishing chains such as dyeing . . .

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