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European textile & apparel sector performance good in Q1
26
Jul '14
The European textile and clothing sector continued with its good performance of the last quarter of 2013 in the first quarter of the current year, according to the data from the Association of Knitwear – Hellenic Fashion Greece.
 
The most positive development was the increase in retail sales by 3.7 percent during the first three months of 2014.
 
During the quarter, the production of synthetic fibres increased by 6.3 percent year-on-year, while production of textiles, including yarn and fabric, increased by 3.2 percent, and of clothing by 2.2 percent.
 
In term of business turnover, there was a 5.1 percent year-on-year increase in the textile segment, and 0.8 percent rise in the clothing segment.
 
Retail sales of textiles and clothing increased by 3.7 percent year-on-year during the three-month period, recording the largest quarterly increase in the last three years.
 
An increase was also recorded in the European textile and clothing exports from January to March 2014. Textile exports increased by 2.8 percent year-on-year to €5.1 billion, whereas garment exports grew by 3.2 percent to €5.7 billion. The largest increase of 11.7 percent was recorded in exports to China, followed by 10.5 percent growth in exports to the US. However, exports to Russia declined by 4 percent.
 
On the other hand, the growth of retail sales helped to increase imports during the quarter. Textile imports were up 8.2 percent year-on-year to €6.9 billion, while clothing exports rose 6.1 percent to €18 billion. The largest increase of 26.4 percent was recorded in imports from Pakistan, followed by an increase of 15.3 percent in imports from Bangladesh, 5 percent in imports from Turkey and 3.1 percent in imports from China.
 
However, average prices of imported textile and apparel goods fell between 4 to 6 percent during the quarter, compared to the same quarter of last year.
 

Fibre2fashion News Desk - India

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