DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Central America Strategic Sourcing Review - a Focus on Guatemala, El Salvador and Honduras" report to their offering.
Compliance and sustainable production seems to be the most discussed topic after labour laws and tax incentives in Guatemala. Its new generation of entrepreneurs in the textiles and apparel industry are taking on their parents' or grandparents' factories and mills, and introducing concepts such as recycling, product design and community development as core business principles.
Several factories have their own codes of conduct. These suppliers are starting to actively explore new export destinations beyond the conventional US market. With competitive pricing and better productivity rates, Guatemala's apparel industry is set to see a new phase in its maquila' history.
Approximately 66% of the apparel manufacturing industry in El Salvador now offers full package services and the industry makes up around 46% of the country's total exports. There has been impressive investment in the synthetic sector especially in the Zona Francas (Free Trade Zones). Several large brands have set up ODM / OEM manufacturing facilities in the country. With a focus on speed to market' and services', more than 20% of the factories are vertically integrated.
Will Honduras remain competitive and retain its leading exporter share in the US market if Vietnam starts exporting duty free to the US under the TPP agreement? With rising competition in the region along with the growth of Asian exporters such as Vietnam, the Honduran apparel exporting industry may face new competition. Can the ambitious National Economic Development Program live up to the expectations of reaching exports worth US$4.2bn from the sector?
These are some of the key questions discussed in this strategic sourcing review.
For more information visit http://www.researchandmarkets.com/research/qtm33j/central_america
