Lisbon, Sept. 12, 2024 (Lusa) - Portugal's textile and clothing industry exported €3.376 billion in the first seven months of the year, 6% less than in the same period in 2023, although in July alone exports were up 3% on a year earlier, it was announced on Thursday.
In a statement, the ATP - Textile and Clothing Association of Portugal says that the sector exported €529 million in July, up 3% on the same month in 2023, continuing to "demonstrate its ability to adapt and resilience, even in a challenging global context."
The association says that this increase was "accompanied by a 12% rise in the quantity exported, to 43,372 tonnes, showing a month of strong production and export activity."
With regard to the decrease in the value of exports over the seven months, ATP states that "this scenario reflects challenges in traditional markets, such as Spain and Italy, which saw falls in the value and volume traded," while emphasising that "however, in strategic markets such as the USA, it was possible to increase business opportunities, with exports increasing by 5% in value and 4% in quantity.
"The strengthening of Morocco as an alternative to Portugal for production at more competitive prices is confirmed by the results of exports to that destination, which increased by 15% in value and 18% in quantity," it says.
The association adds that "Turkey has also been gaining more prominence in European imports and Portugal is no exception, with imports of products from this origin having risen 44% in value and 93% in quantity."
On the other hand, and taking into account data provided by Eurostat, the European Union statistics office, it notes that Portugal has been strengthening its market share in most EU countries, including in "important and mature markets" such as Italy.
The association also points out that "imports of raw materials, which are essential for textile and clothing production in Portugal, increased significantly in July, up 40% in quantity, reflecting the sector's preparation to step up production and meet international demand, showing signs of a long-awaited recovery."
MC/ARO // ARO.
Lusa
