In 2017, out of 700,000 EU companies who sell products and services outside the EU, some 615,000 were small and medium businesses, says an economic analysis published by the European Commission. The study considers enterprises with less than 250 employees as SMEs.
These SMEs exported goods worth €476 billion in 2017, which represented 28 per cent of the total value of extra-EU exports. In many economic sectors, EU SMEs account for more than 50 per cent of the total value of EU exports (textiles, furniture, printing and media, agricultural products, wood products), the analysis said.
SME exports are also greener. They have lower greenhouse gas emissions than an average firm, with 70 per cent of SME exports belonging to the low to medium-low greenhouse gas emission, the paper titled 'The role of SMEs in extra-EU exports: Key performance indicators' added.
"Compared to their contributions to national economies, EU SMEs remain under-represented in global trade in terms of export value. Ensuring that EU SMEs continue to remain strongly engaged in exporting activities in the post-COVID-19 recovery is highly important. EU SMEs could become more international via outward foreign direct investment as part of the post-COVID-19 recovery strategy," the report suggested.
Fibre2Fashion News Desk (RKS)
| On 4th Mar 2021
British chancellor of the treasury Rishi Sunak recently announced...
China's State Council has released a guideline to accelerate the...
| On 4th Mar 2021
The e-commerce market in the United Kingdom is now the third-largest...
Every market region has its own culture and trends
Shiladitya K Joshi
Truetzschler India Private Limited
India ITME provides a platform to interact with our stakeholders
The biggest challenge is lack of skilled workforce and competition from...
Headquartered in Surat, Anubha Industries is a specialist for sustainable...
Germany-based H Stoll AG & Co KG manufactures flat knitting machines....
No Nasties was the first fashion brand in India to make 100 per cent...
S Ziya Gumuser
Turkish nonwoven manufacturer Teknomelt has been around for only seven...
Prof Seokheun (Sean) Choi
Binghamton University, State University of New York (SUNY)
A team of researchers from the State University of New York (SUNY),...
Glen Raven Inc
Paige Mullis discusses the expansion plans of Glen Raven Inc in India, and ...
Usha Social Services
The Usha Silai label from Usha International is all set for a retail...
Aditi Somani specialises in luxury fusion wear with international cuts and ...
Occasions Elegance Wear
It is believed that by early 19th century, Varanasi weavers had moved away ...
Letter to Editor
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.