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Iran concerned over loss of textile jobs

Currently around 300,000 people work in Iran's clothing industry, and the figure has the potential to increase to 1 million. But the country is concerned about the loss of 200,000 jobs due to smuggling of clothes. Iran currently has $3 billion worth of smuggled clothes. Easy and high profits make smuggling of clothes economically beneficial. The official import of clothes into Iran last year amounted to $59 million, which is a small part of foreign clothes in the local market.

Another problem that the country faces is the flow of liquidity and circulating capital. For one month, no currency has been given to anybody in the clothing industry. Before that, the country imported major raw materials from China through the Kunlun bank of China, but with the imposition of sanctions, China stopped providing it with textile raw materials anymore.

 

 
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