Iran’s garment export at $70M despite $12B capacity

Business Materials 16 December 2016 13:53 (UTC +04:00)

Baku, Azerbaijan, Dec. 16

By Emil Ilgar – Trend:

Annual value of Iran’s garment market stands at $15 billion, but the domestic companies have only 35 percent share in that, Mohammad Javad Sedghamiz, the director of Research Department of Tehran Garment Union told ISNA Dec. 16.

He said the country’s garment export capacity is estimated at $12 billion a year, but the figure stands at $70 million.

He said that the local companies should at least supply 70 percent of domestic market, but they don’t.

Earlier, the head of Association of Iran Textile Industries, Mohammad Moravvej Hosseini, said that only 30 percent of Iran’s textile industry’s capacity is active.

Moravvej Hosseini further said that only 30 percent of Iran’s garment import comes through legal channels, adding that the remaining amount is smuggled into the country.