Textile exports from the south Central American country of Bolivia exported textiles worth US$ 26.3 million during the January to November 2013 period, indicating a fall of 50.47 percent year-on-year, as per the data released by National Statistics Institute (INE) of the country.
According to the INE report, Bolivia exported textiles worth US$ 26.3 million in the first eleven months of 2013, which is huge decline of 50.47 percent compared to the US$ 53.1 million textiles exported during the same period in 2012, reports Bolivian newspaper La Razon.
The INE states the decline in textile exports from the country could be attributed due to the failure of exploring alternative markets like Venezuela, Brazil and Argentina, owing to the loss of the Andean Trade Promotion and Drug Eradication Act (ANTDP).
According to the Bolivian Institute of Foreign Trade (IBCE), the textile industry of the country experienced the worst decade due to the decline of demand from foreign markets and the exploring of alternative markets which is still not working.
In January to October 2013 period, Bolivia imported textile raw materials worth US$ 19.9 million, from nearly 37 different countries, as per the IBCE data.