EghtesadOnline: The Iranians’ overall declining purchasing power and excessive imports have pushed the Iranian textile industry into recession in recent years, the chairman of Tehran’s Wholesalers and Textile Sellers Union said.
As Amir Qadiminejad told ILNA, about 3,500 members of this union, out of over 7,000, have gone out of business in the past five years.
He noted yjay Turkish apparel dominates the domestic market.
“Iranian products are as good as Turkey’s in terms of quality, but they cannot compete in terms of prices,” Financial Tribune quoted him as saying.
According to Qadiminejad, Iranian textile production units are operating at one-third of their actual capacity.