The European Confederation of Textiles and Clothing EURATEX has published an overview of economic trends in the textile and clothing sector for the third quarter of 2021.
Short-term perspective:
Growth continues to be observed in the third quarter of 2021, albeit at a slower pace than in the same quarter of 2020.
Compared to pre-pandemic indicators (Q4 2019),
EU turnover 2021 Q3 was higher by + 6% in the textile sector, while lagging behind by -8% in the clothing sector.
Production grew by + 2% in the textile sector, while the clothing sector still lagged behind by -20%.
Bulgaria, Hungary, Lithuania, Italy and the Netherlands performed best in production, recording an average production growth of 15%. In the clothing sector, Lithuania achieved significant growth in production in 2021. 3 quarters. - + 19%, followed by Latvia (+ 18%).
Retail trade in specialized stores still lags far behind the pre-pandemic level (-21%) (Q4 2019)
Overall trend forecast: 2022 The textile and clothing sector will face a number of challenges, including high energy and raw material prices, supply chain disruptions and the sanitary measures caused by the ongoing pandemic.
Import and export:
Exports outside the EU in 2021 3 quarters. slowed down compared to 2020. 3 quarters. grew by + 2% (while growth in the second quarter of 2021 was 49% compared to the second quarter of 2020). Exports in the textile sector grew, while the clothing sector experienced a sharp drop in the UK market (-43%) due to Brexit, customs problems and a shortage of truck drivers.
EU imports shrank by -11% compared to 2020 3 quarters. Imports in the textile sector contracted by -24%, mainly due to lower imports of personal protective equipment (masks, bathrobes) from China (-85% compared to Q3 2020). Imports in the clothing sector also contracted, despite significant growth in imports from Pakistan and Bangladesh.
Import prices of textile products fell (-32%), but clothing prices rose (+ 0.6%). The EU-27 trade balance in the textile and clothing sector saw a deficit reduction of 21%.