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Spanish textile exports post impressive growth
Oct '11
Textile exports from Spain have posted an impressive growth of 45.8 percent year-on-year to record 1037.7 million euros in August 2011. The growth in textile exports is more than double the growth of 20 percent recorded by all Spanish exports during the month, data from the Ministry of Industry, Tourism and Trade revealed.

Export of apparel items also registered a record 44.5 percent year-on-year increase to 814.6 million euros.

Textile and apparel imports also showed a double-digit increase during August. Textile imports rose by 20.6 percent to 1581.8 million euros, while import of garment items jumped 20.4 percent to 1317 million euros.

As a result, the external trade deficit in Spanish textile and clothing industries reduced during the month. In textiles, the deficit decreased to 544.1 million euros, which is 9.3 percent less than the deficit in August 2010. Similarly, the deficit in garment sector came down to 502.4 million euros, 5.2 percent less than the corresponding month last year.

The increase in August exports has also helped Spanish textile sector improve its external balance situation this year. From January to August, textile sector exports jumped to 6.441 billion euros, up 16.6 percent year-on-year. Imports during the same period rose 12.5 percent to 10.009 billion euros.

In apparel sector, Spain exported 4.274 billion euros worth of goods during the first eight months of the current year, showing a rise of 18.1 percent, while it imported items worth 7.564 billion euros during the same period, up 12.9 percent year-on-year.

Fibre2fashion News Desk - India

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Courtesy: Commonwealth Bank of Australia

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