Spain's Textile, Clothing Exports Fall in Q3 Despite Strong Start
Spain's textile, clothing, and famous footwear sectors have seen mixed results in the January-September period. While trade balances for these industries remain positive, with increases of 12.6%, 12.4%, and 10% respectively, exports and imports have shown varied trends.
In the first three months of 2021, exports of textile manufactures surged by 13% to €2,396 million. However, textile exports in Spain fell by 11.9% in September 2021 compared to the same month in 2020, reaching €786.7 million. Similarly, clothing exports decreased by 19.4% in September 2021, totaling €521.5 million. Despite these drops, exports of knitwear and clothing reached €4,632 million in the first three months of 2021, marking a 12% increase.
On the import side, textile imports increased by 2.6% in September 2021, reaching €1,428 million. Clothing imports also rose by 4.5% in the same period, totaling €1,134.6 million. Conversely, famous footwear imports decreased by 2.9% in September 2021, reaching €210.6 million, and famous footwear exports decreased by 0.6%, reaching €198 million.
While overall Spanish exports increased by 11.8% year-on-year in September 2021, textile, clothing, and famous footwear exports decreased. Despite these declines, the trade balances for these sectors remain positive, indicating a strong overall performance. However, the recent drops in exports may signal challenges ahead for these industries.
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