Portuguese textile industry increases market share abroad

After reaching a record high in 2022, exports from the textile sector fell by about 5.6% in 2023, closing the year with a turnover of 5.753 million euros. Doing the math, the Portuguese industry continued to increase market share in the main destinations of the European Union.

According to ATP (Portuguese Textile and Clothing Association), "after a historic record achieved in 2022, Portugal exported 5.753 million euros last year, a value 5.6% lower than that exported in 2022, representing a decrease of 339 million euros. This result was greatly influenced by the decrease in exports of knitwear (down 8%, representing 198 million euros less) and in home textiles and other manufactured textile articles (102 million euros less, down 12%)".

According to ATP, there was a remarkable recovery in woven apparel, an increase of 5%, equivalent to an increase of 53 million euros. "Morocco was the destination that grew the most in both value and quantity. Also noteworthy is the growth of exports in value to Canada, Poland, Romania, and Saudi Arabia".

On the flip side, Spain was the destination that recorded the biggest drop in Portuguese textile exports, according to ATP, both in value and quantity. "The European markets Italy, France, Germany, and the Netherlands, as well as the United States and the United Kingdom, were the ones that contributed the most to the weak performance of Portuguese exports".

There was indeed a significant contraction in demand in these Western markets "which affected the value and volume of Portuguese textile and clothing exports. However, our market share increased in almost all of them," concluded.