Spain imported apparel worth $274.042 million during the first four months of 2022. This represents a 51.61 per cent increase compared to the $180.755 million worth of imports from January to April 2021. The trend demonstrates a recovery in Spain’s import activity, which had declined by 22.71 per cent to $231.514 million in the first four months of 2020, and further dropped by 21.92 per cent to $180.755 million during the same period in 2021, according to data from Fibre2Fashion’s TexPro market insight tool.
In the first four months of 2023, Cambodia was the fourth largest supplier of apparel to Spain. During this period, Spain imported 5.04 per cent of its total apparel from Cambodia, which amounted to a value of $6.485 billion.
Spain’s apparel imports from Cambodia increased by 19.16 per cent year over year to $326.555 million from January to April 2023.
This marks a steady recovery from previous declines.
If growth continues, Spain’s apparel imports could exceed $1 billion in 2023, showing resilience amidst economic slowdown and high inflation in many western countries.
In 2022, Spain’s total apparel imports were valued at $978.431 million, reflecting a growth of more than 50 per cent from the $626.853 million recorded in 2021. In the years prior, the country had imported apparel worth $634.629 million in 2020 and $874.142 million in 2019, as per TexPro.
If the current rate of growth is maintained for the remainder of the year, it’s projected that Spain’s apparel imports could surpass the $1 billion mark in 2023. This trend indicates that the bilateral trade between Spain and Cambodia has remained resilient, despite the current economic slowdown and high inflation affecting many western countries.
Fibre2Fashion News Desk (KUL)
