Abstract
Spain is a major global textile and clothing (T&C) producer, with a newly
developing strength in retail
and fashion-led production. BMI ranks it as
number 13 in the world in terms of textile and clothing
manufacturing
value added. In nominal terms we estimate that to have been worth US$12.45bn
in 2008.
The industry faces two very hard years ahead, mainly because the
recession of 2009 and 2010 looks like
hitting Spanish consumers with
particular force.
Overall Spain textile and clothing value added will fall
by 8.8% % in 2009, and again by 3.3% in 2010,
reflecting very difficult
international economic conditions. We see a recovery beginning to sett in
only
from 2012, with growth of 0.2%. The industry' s trade performance will
also reflect the especially
difficult international economic situation.
This year T&C exports will fall 7.8% to US$9.74bn, with
imports down 3.2%
to US$17.76bn. As a result there will be a T&C trade deficit of US$8.01bn.
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