Portugal’s Textile Industry On the Rise

PORTO, Portugal — With Portugal’s central bank forecasting higher-than-expected economic growth this year, the country’s textile and apparel industry is confident that the weaker euro will play a crucial role in driving its rebound. At the fall 2015 shows that unfolded between the nation’s capital Lisbon and the financial hub of Porto, Portugal’s hand-crafted, rich textiles were a main protagonist on the runway. For the first time since the European financial crisis, the sector reported an increase in employment of 4,000 jobs in 2014. Overall, the sector reported sales of 6.43 billion euros or $7.85 billion in 2014 at average exchange for the year, up from 5.77 billion euros or $7.63 billion in 2012, and inching closer to the 6.9 billion euro or $9.97 billion mark the industry achieved in its precrisis heyday in 2007. According to a report by ATC, Portugal’s Clothing and Textile Federation, and Eurotex, Portugal ranked the sixth largest manufacturer of clothing and textiles in the EU (tied with Belgium) in 2013. Portugal produced four percent of the region’s fabrics and apparel. Italy ranks first, Germany second and France, third. Also in 2013, Portugal ranked number four in market share, owning seven percent of all clothing and textile companies

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