Textile and apparel(T&A) exports by the Portugal declined by 6 per cent Y-o-Y to €3.376 billion during the period spanning Jan-July’24. However, T&A exports by the country rose by 3 per cent Y-o-Y to €529 million in July ’24 as per a statement by the Textile and Clothing Association of Portugal (ATP).

Highlighting the sector's resilience in a challenging global environment, ATP noted, the volume of Portugal’s T&A exports increased by12 per centto 43,372 tons in July. This indicates robust production and export activity during the month.

However, overall export value declined over the seven-month period due to difficulties faced in key traditional markets, such as Spain and Italy, where both the value and volume of trade decreased. Despite this, the sector succeeded in expanding business in strategic markets like the US, where exports grew by 5 per cent in value and 4% per cent in volume, adds ATP.

Morocco emerged as a leading export destination due to more favorable pricing. Portugal’s exports to the region increased by 15 per cent in value and 18 per cent in volume. Turkey also gained importance with exports to the country rising by 44 per cent in value and 93 per cent in volume.

Despite challenges, Portugal managed to strengthen its market share in many EU countries, including mature markets like Italy. Additionally, raw material imports by the country rose by 40 per cent in July, signaling the sector’s readiness to ramp up production and meet growing international demand, suggesting a potential recovery on the horizon.