Spanish textile industry is expected to recover with the general trend today

Recently, the Spanish Textile and Accessories Chamber of Commerce (ACOTEX) stated that due to the recovery of the overall domestic economy, it believes that the Spanish textile industry will rebound after seven years of recession. The Chamber of Commerce calls on the Spanish Ministry of Finance to reduce the current 18% business value-added tax to promote further recovery of the industry. Spanish media pointed out that since 2007, nearly 20% of clothing and home textile stores in Spain have closed, and their turnover has shrunk by 30%. This year, Spain’s clothing and home textile industry grew by 1.6% compared with the same period last year.
According to the annual report of the Chamber of Commerce, the total sales of the Spanish textile industry in 2013 was 15.85 billion euros, a decrease of 3.78%, but began to show growth in the second half of the year. Although the growth rate is limited, industry insiders generally believe that Spain’s economic crisis has bottomed out and will continue to grow. Gradually improved. Last year, 152 clothing and home textile product stores were closed, bringing the total number of stores to less than 60,000. The number of people employed in the textile industry decreased by 2.11% to 186,000. Last year, Spanish households’ consumption expenditure on textile products decreased by 744 euros compared with 2006, falling to 1,109 euros; the average individual consumption expenditure on textile products was 400 euros.
Last year, the amount of foreign tourists spending in Spain was led by the Chinese with 938 euros, followed by the Japanese with 559 euros and the Americans with 546 euros. Among them, about 2/3, or 62%, was spent on clothing, followed by jewelry and watches. category 12%, and electronic products accounted for 3.5%. For tourists who mainly focus on purchasing, we know from tax refund statistics that 45% of their consumption is concentrated in Catalonia, 36% in Madrid, 8% in Málaga, and 2% in Baleares, Alicante and Valencia. In terms of consumption venues, 30.9% of tourism consumption is concentrated in specialty chain stores, 24.3% in supermarkets, 19.9% ​​in multi-brand stores, 15.1% in outlet centers and 9.8% in department stores.