A €** billion warning
The European Apparel and Textile Organisation, EURATEX, estimates that the sector supports *.* million jobs across nearly ***,*** companies. Employment fell *.* per cent in ****, while exports declined *.* per cent. Around one-third of textile and clothing products sold in Europe are now manufactured in China.
The weakness continued in early ****. Textile turnover fell * per cent year on year and clothing turnover dropped *.* per cent in the first quarter. Production declined *.* per cent in textiles and *.* per cent in clothing, while extra-EU exports contracted *.* per cent during the January-March **** period.
Imports also fell, narrowing the deficit. But EURATEX attributed this largely to weaker demand and lower import prices. Europe bought less; it did not produce more.
