Textile Production Falls in Brazil. Chinese Are Blamed.

    Between January and April of this year, the São Paulo, Brazil, textile industry produced 5% less than it did over the same period last year.

    According to the president of the Textile Industry Syndicate (Sinditêxtil-SP), Rafael Cervone Neto, one of the factors impeding the sector’s growth is the exchange rate.


    “Many entrepreneurs are having to comply with contracts signed last year, when the dollar was on a higher plateau.”


    Other problems identified by Cervone are the rise in interest rates and excessive taxation, but he affirms that one of the main obstacles is competition from Chinese products.


    The president of the industrial association says that textile firms are very eager for safeguards against Chinese products to be regulated.


    The text, which was approved by the Foreign Trade Chamber (Camex) of the Ministry of Development, Industry, and Foreign Trade, will be sent to the Presidential Chief of Staff’s Office and is expected to be turned into two decrees, which are still without definite dates to go into effect.


    Despite the deceleration in the São Paulo textile industry, the balance indicates that exports are up 8.1%, maintaining the state’s national leadership in the sector, with a volume of US$ 173.5 million.


    The 3,400 companies affiliated with the Sinditêxtil earned a total of US$ 4.54 billion in 2004, and, between January and May of this year, their earnings amounted to US$ 1.89 billion, 1% more than during the same period last year.


    Exports came to US$ 415.77 million in 2004 and US$ 173 million in the first five months of this year, which corresponds to an 8% increase.


    Imports, on the other hand, totaled US$ 379.44 million last year and US$ 166 million in the first five months of this year, which represents a 20.5% increase.


    ABr – www.radiobras.gov.br

    Tags:

    • Show Comments (0)

    Your email address will not be published. Required fields are marked *

    comment *

    • name *

    • email *

    • website *

    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    Ads

    You May Also Like

    Military police invades Brazilian favela

    Brazil’s Anti-Drug Operation Kills 19, But Doesn’t Nab Drug Lord

    After a police operation, which lasted more than six hours, left at least 19 ...

    Dubai in the United Arab Emirates

    Brazil-Emirates Maiden Direct Flight Has Brazilians at the Helm

    The Emirates airline flight that left Guarulhos International Airport, in São Paulo, on the ...

    The Russians Have Arrived. They Want to Make Deals with Brazil.

    Accompanied by a business mission, the Prime Minister of the Russian Federation, Mikhail Fradkov, ...

    Henrique da Silveira Sardinha Pinto

    Brazil Ready to Return Its Ambassador to Israel

    The Brazilian government officials are happy to act on the announcement of a ceasefire ...

    Brazil and G4 Will Try New Approach for Reforming UN

    The group formed by Brazil, India, Japan, and Germany (G4) is expected to draft ...

    Brazilian baby with microcephaly

    The Zika Fear: There’s Still Time to Stop Rio’s Olympic Games

    Since the outbreak of the Zika virus in Latin America in May 2015, Brazilian ...

    Zahar, Synonym of High Culture in Brazil

    This year, 2005, the second publishing house established by Jorge Zahar, Jorge Zahar Editor, ...

    US Treasury Secretary Henry Paulson

    US Treasury Secretary Scolds Brazil for Corruption and Bureaucracy

    The yuan needs to "adapt" to the vigor and strength of the Chinese economy, ...

    Requiem for a Bubble

    Globo Group and the Folha Group, two giants of the media, who had wrangled ...