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Textile exports show signs of resumption
Jan '11
Textile exports of Spain increased by 6.1 percent to touch EUR8.3 billion in 2010, which is the largest hike over the last three years. There is a ray of hope for the textile sector and it is expected that it can recover the loss resulting from the growing imports by Asian countries and the dull business at the local market caused by the economic slump.

One of the top trade lobbies – Cityc pointed out that the textile export results were quite inspiring even when the domestic market was struggling. Majority of the Spanish customers had reduced their expenditures so that they could survive the difficult phase of economic crisis and rising unemployment.

In 2009, Spain had exported textile goods worth EUR7.8 billion whereas in 2008, textile exports were of the value EUR8 billion.

Cityc also added that the worldwide demand for Spanish garments as well as textile products has witnessed a hike in the recent months. It has also been anticipated that the demand for Spanish garments and apparels will further rise in the coming days thereby raising the earnings of the sector in the midst of serious losses caused by growing competition by the Asian nations.

Fibre2fashion News Desk - India

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