Honduran Textile Industry Worries About Output Decline Compared to Last Year

2011-09-14

Honduran textile export processer, Maquiladores worries, in view of the political and economical developments, both domestic and abroad, if the textile industry output can achieve the same level as last year’s. The exporter said that there is a fear of a 13% decline in Honduran textile export processing in 2011. The cause from abroad is the fear that the worse than ever U.S. economy will lower the demand. The U.S. demand in the past increased 15% annually, while the up-to-date growth this year is only 2%. If the situation persists, there will be a 13% decline this year, compared to last year. The domestic causes are the rising energy costs and the rising labor wages. These are the major contributing factors to the increasing operation costs for the textile industry.