Home / Knowledge / News / Industrial / Small businesses exporting outside EU employ over 13 mn

Small businesses exporting outside EU employ over 13 mn

17
Jun '20
Pic: European Commission
Pic: European Commission's Chief Economist Note, Issue 1: May 2020
The number of EU exporting small and medium enterprises (SMEs) has risen steadily in recent years, and in several sectors they are more competitive in digitally intensive products than large EU companies. EU SME exports are also a major driver for export-led job creation: over 13 million jobs in Europe depend on EU SME exports, according to a study.

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)


Must ReadView All

UK Chancellor of the Exchequer Rishi Sunak. Pic: GOV.UK

Textiles | On 4th Mar 2021

More support measures for workers, businesses announced in

British chancellor of the treasury Rishi Sunak recently announced...

Pic: Shutterstock

Textiles | On 4th Mar 2021

China releases guideline for green, low-carbon economy

China's State Council has released a guideline to accelerate the...

Pic: Shutterstock

E-commerce | On 4th Mar 2021

UK e-com market 3rd-largest in world following record 2020

The e-commerce market in the United Kingdom is now the third-largest...

Interviews View All

Yash Agarwal, Hitansh Online

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Shiladitya K Joshi, Truetzschler India Private Limited

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Saket Garg, Garg Corporation

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Aditya Goyal,

Aditya Goyal

Headquartered in Surat, Anubha Industries is a specialist for sustainable...

Alexander Foll,

Alexander Foll

Germany-based H Stoll AG & Co KG manufactures flat knitting machines....

Apurva Kothari,

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

S Ziya Gumuser, Teknomelt

S Ziya Gumuser
Teknomelt

Turkish nonwoven manufacturer Teknomelt has been around for only seven...

Prof Seokheun (Sean) Choi, Binghamton University, State University of New York (SUNY)

Prof Seokheun (Sean) Choi
Binghamton University, State University of New York (SUNY)

A team of researchers from the State University of New York (SUNY),...

Paige Mullis, Glen Raven Inc

Paige Mullis
Glen Raven Inc

Paige Mullis discusses the expansion plans of Glen Raven Inc in India, and ...

Priya Somaiya, Usha Social Services

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Aditi Somani, Aditi Somani

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Jay Ramrakhiani, Occasions Elegance Wear

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


February 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search