Latest economic data on the European textile and clothing industry confirm further recovery from the corona pandemicm announced EURATEX - the voice of the European textile and clothing industry. This recovery may however be disrupted by the current supply chain and energy problems.
On the occasion of releasing its Quarterly Economic Update, EURATEX is concerned that the Covid19 crisis may soon be followed by disruptions in the textiles and clothing global supply chains, affecting the competitiveness of the industry.
A complete recovery in Clothing and Textile sectors is still uncertain, despite some positive signals
Data of the third quarter of 2020 show a partial recovery compared to the second quarter. Nevertheless, production is still negative, and signs of a full recovery are yet to be seen. EURATEX is calling the EU for an active engagement in crucial area like circular economy, digitisation and level playing field.
EURATEX announced today, that latest data suggest a situation worse than 2009 as turnover fell by nearly 25% in the textiles industry, and by 35% in the clothing sector. On the other hand, imported textile products from China increased sharply. EURATEX asks the European Union to quickly implement what has been promised and develop a resilient industry.
EURATEX plans to transform the crisis into an opportunity and become more digital, sustainable and agile. Endorsed by the last General Assembly, the renewal will be driven by the “strategy for recovery from the COVID-19 era” together with five flagship initiatives in critical areas. To guide the European textile and clothing industry towards its renaissance, the GA re-elected Alberto Paccanelli as President.
The European textiles and clothing sector needs urgent support in order to remain a strategic pillar of the European economy, wrote Euratex.
The European textiles and clothing sector cares about circularity of its products. The industry is re-inventing itself to offer solutions that are workable and make a sustainable impact.