Spain's textile industry is expected to rebound

Recently, the Spanish Chamber of Commerce for Textiles and Accessories (ACOTEX) stated that due to optimistic about the overall economic recovery in the country, it is believed that after a seven-year recession, the Spanish textile industry will recover. The Chamber of Commerce called on the Spanish Ministry of Finance to reduce the current 18% of the operating value-added tax to promote further recovery of the industry. Recently, the Spanish Chamber of Commerce for Textiles and Accessories (ACOTEX) stated that due to optimistic about the overall economic recovery in the country, it is believed that after a seven-year recession, the Spanish textile industry will recover. The Chamber of Commerce called on the Spanish Ministry of Finance to reduce the current 18% of the operating value-added tax to promote further recovery of the industry. Spanish media pointed out that since 2007, nearly 20% of apparel and home textile stores in Spain have been closed, and their turnover has been reduced by 30%. This year, the Spanish apparel and home textile industry increased by 1.6% over the same period of last year.

According to the data of the annual report of the chamber of commerce, in 2013 Spain’s textile industry’s total sales amounted to 15.85 billion euros, a decline of 3.78%. However, it began to show growth in the second half of the year. Although the growth rate is limited, industry figures generally believe that the economic crisis in Spain has bottomed out and will Gradually improve.

In 2013, there were 152 clothing and home textile products stores closed, the total number of stores was less than 60,000, and the employment of the textile industry decreased by 2.11% to 186,000. Last year, Spanish households' spending on textile products decreased by 744 euros compared to 2006 to 1,109 euros; the average consumer spending on textile products was 400 euros.