Home / Knowledge / News / Textiles / 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

Pic: UNFCCC / Alyssa Strohmann / Unsplash

Fashion | On 17th Jun 2021

Over 70% UN Fashion Charter signatories submit disclosures in 2020

For the 2020 reporting cycle, over 70 per cent of signatories to the...

Pic: Shutterstock

Apparel/Garments | On 17th Jun 2021

Prime Content| Bangladesh apparel exports jump 11.1% in July-May FY21

Readymade garment (RMG) exports from Bangladesh increased by 11.1 per ...

Pic: Bierrebi

Textiles | On 17th Jun 2021

India emerging as main hub for manufacturing in Asia: Bierrebi

The size of the machinery market in India is vast and it enjoys...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Uniform designing is a numbers game

Textile Industry, Head honchos

Textile Industry
Head honchos

Tech in fashion industry has hit acceleration button

Textile Industry, Head honchos

Textile Industry
Head honchos

Increased need for online fitting solutions as retailers shift to...

Bharat Ahuja,

Bharat Ahuja

A mono store brand, <b>Bharat Ahuja's</b> Desire Design Studio has emerged ...

Yawer Ali Shah,

Yawer Ali Shah

Synthetic colours and dyes were all the rage till the very first ban on...

Shivendra Nigam,

Shivendra Nigam

Delhi-headquartered Cantabil Retail India Ltd was founded by Vijay Bansal...

Giulio Cesareo, Directa Plus

Giulio Cesareo
Directa Plus

UK-based Directa Plus is one of the largest producers and suppliers...

Steve McCullough & Marco Weichert, Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Steve McCullough & Marco Weichert
Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Functional Fabric Fair is a trade-exclusive event showcasing the latest...

Sven Ghyselinck, Devan Chemical

Sven Ghyselinck
Devan Chemical

Headquartered in Belgium and with offices in the United Kingdom, Portugal...

Shalini Sharma & Shweta Pundir Sharma, Six Yard Story

Shalini Sharma & Shweta Pundir Sharma
Six Yard Story

Six Yard Story is a premium artisanal brand with a focus to bring handloom ...

Archana Jaju, Label Archana Jaju

Archana Jaju
Label Archana Jaju

<b>Archana Jaju</b>’s Hyderabad-based eponymous label works with artisans...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

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


June 2021

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


Advanced Search