Textile industry looks at 2008 with prudent optimism

06 Jun '08

3 min read

The Spanish textile industry looks at 2008 with prudent optimism. Though exports registered a growth of 9% in 2007, outlook for 2008 is one of prudence in light of slowing down of the European economy as a whole.

The Spanish textile industry has continued its process of adapting to the new market conditions, an increasingly more globalised market in which companies' competitive references assume worldwide proportions from the perspectives of both sales and production.

A look at the present situation shows that external demand remained high throughout 2007 on the basis of strong economic growth in the EU and the dynamism of the emerging markets. It can be said that this past year has been one of the best with regard to foreign sales, with global exports for the industry as a whole reaching record figures of €8,000 million, this figure having doubled in the last decade.

Although growth has centred on articles of clothing (knitwear and ready-to-wear), all products have improved figures for 2007. Thus, exports of woven materials and fabrics have increased by 2.5%, representing almost 30% of the total exported and occupying second place in terms of importance after clothing exports, which exceed 50% of the total due to the foreign trading activities of the leading Spanish production / distribution companies.

Despite this situation, companies have been prudent in their provisions for 2008, due to the fact that sales to the EU, the main market, may be affected by the slowing down of the economy in the leading countries of the region and a decrease in industrial activity.

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