Argentina’s textile and garment industry declined .% year-on-year

According to a report by the Argentine Confederation of Medium-sized Enterprises (CAME), the output of Argentina’s textile and garment industry fell by 4% month-on-month and 10.6% year-on-year in July 2022. Industry players pointed out that one of the main reasons for the recession was the sharp exchange rate fluctuations in July, which led to rising raw material costs. However, due to the outstanding performance of the textile and garment industry in the past few months, the year-on-year growth from January to July 2022 was still 7.6%. In addition, the utilization rate of textile equipment in July was 71%, a month-on-month decrease of 5.4%.