Spain year-end review 2023: Relying on European trade

Moroccan textile exports to Spain experienced a significant decrease of 15.3 per cent during the initial six months (January-June) of 2023, according to data published by Icex Spain Exports and Investments. Spain regularly relies on European imports for its fashion market but with attention shifting towards Morocco and Turkiye, both encountered challenges in their trade with Spain. Specifically, Spain’s imports from Turkiye saw a notable drop of 17.5 per cent, amounting to €1,285 million during the period – a decline that led Turkiye to slip from the third to the fifth spot among Spain’s fashion suppliers. France demonstrated resilience, with its fashion exports surging by an impressive 17.8 per cent during the same period. With this, France became Spain’s new third-largest fashion supplier. Italy maintained its position as Spain’s fourth-largest fashion exporter, with a steady growth of 4.9 per cent. China’s exports rose marginally by 0.1 per cent, while Bangladesh experienced a minor decrease of 0.1 per cent in its fashion exports to Spain.

On the buying side, France remained Spain’s top customer in the fashion sector, leading the list of top-five buyers, other four being Italy, Portugal, Germany, and the UK. Notably, all of these markets increased their fashion purchases from Spain, except for the UK, which reduced its imports by 10 per cent. Germany stood out with a robust commitment to Spanish fashion, boasting a growth rate of 16.7 per cent, while the US witnessed a significant decline of 21.7 per cent in its Spanish fashion imports.

Fibre2Fashion News Desk (WE SB)