Domestic Economy
0

Dramatic Rise in Clothing Output, Exports

Dramatic Rise in Clothing Output, Exports Dramatic Rise in Clothing Output, Exports

Iran’s clothing exports totaled $35 million in the five months to Aug. 21, a board member of Iran’s Textile and Apparel Production and Export Union said.
“The statistics are not final yet, but a 30% increase in exports is expected for the eight months ending Nov. 20. Such a growth comes, despite troubles regarding money transfer,” Majid Nami added.
Referring to businesspeople from neighboring countries like Iraq, Afghanistan and Central Asian countries, he said they purchase Iranian clothes in rial and transport them to their countries either legally or illegally, which form of export does not benefit local producers. 
“The volume of unofficial exports of clothes is high. Strict supervision needs to be exercised at free trade zones and border markets to safeguard domestic producers’ interests,” the official was quoted as saying by IRNA. 
“Garment production has registered a 70% growth since the beginning of the current year [March 20] to Nov. 20 compared with the corresponding period of last year.” 
Nami noted that the ban on import of foreign clothing brands, closure of borders due to the outbreak of coronavirus and decline in smuggling contributed to this success. 
“The share of Iranian brands in the domestic market has increased significantly over last year. However, manufacturers are concerned about coronavirus restrictions, particularly if they continue into the final months of the year. Last year [March 2019-20], producers saw their sales plunge by 80-90% during the months leading to New Year holidays,” he said.

Add new comment

Read our comment policy before posting your viewpoints

Financialtribune.com