Feb 20, 2017
UK textile & apparel exports up 7% in 2016
Feb 20, 2017
The exports of apparel and textiles from the UK have increased by 7.05 per cent to £9.1 billion in 2016, compared to exports of £8.5 billion in 2015, figures released by the UK Fashion & Textile Association (UKFT) show. The European Union was the biggest market for UK's textiles and apparel, accounting for 74 per cent of all UK textile and apparel exports.
UK's textile and apparel exports have grown over the last five years. During 2012-2016, apparel exports alone have risen by 41 per cent to £6.2 billion, up £1.8 billion, UKFT data revealed. This rise in exports is due to a number of effects including an increased interest in heritage UK manufacturing, the creativity of British fashion designers as well as the importance of the UK as a key apparel trading hub.
UK apparel and textile exports to the EU rose from £4.9 million in 2012 to £6.7 billion in 2016, representing an increase of £1.8 billion or 36 per cent.
Meanwhile, the UK trade deficit, which reflects the difference between imports and exports, increased to £15.4 billion in 2016, up from £15 billion in 2015. This figure represents an increase in the value of imports from £23.4 billion in 2015 to £24.5 billion in 2016.
Export is a fundamental part of UKFT’s activities, utilising the largest amount of Department for International Trade TAP grants of any industrial sector. In the fashion and textiles industry, for every £1 the government invests in trade show support, almost £70 comes back to the UK in export revenue. This season UKFT has taken 650 British companies to international shows including Pitti Uomo, Berlin Fashion Week, Paris Fashion Week, New York Fashion Week and Premiere Vision.
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