Finance

Tunisia ranks 8th in EU clothing supply with 3.06% market share (CETTEX)

Tunisia ranked as the 8th supplier of the EU in clothing with a market share of 3.06% in the first quarter of 2023, according to the analysis of the Technical Centre for Textiles (CETTEX) published Wednesday. Tunisia's exports to the European Union recorded a remarkable increase of +16.28% compared to the 3 months of 2022, the same source said, adding that Tunisia recorded a double-digit growth on the main traditional markets of the EU except for Spain (-2.58%). Significant growth was recorded by Tunisia on the German market (+31.19%), in addition to the anchoring of its position in France and Italy as a supplier of clothing respectively in 3rd and 4th place. The value of European imports of clothing reached 21.817 billion euros and marks a slight regression of -0.65% compared to the value recorded during the first three months of 2022. EU's main suppliers of clothing China remains Europe's leading supplier, but overall, the majority of supplier countries are recording a decline in their exports to the EU. Tunisia and Morocco have a respectable position in the European market despite tough and unfair competition. Some supplier countries are suffering the consequences of the war between Russia and Ukraine, namely inflation in the eurozone, higher energy and transport costs, etc. These effects have had an impact on their export turnover such as China (-14.04%), Turkey (-8.83%), Cambodia (-1.98%), Sri Lanka (-12.68%) and Indonesia (-2.83%). To conclude, the report underlines that the agility and resilience of the companies in the TH sector allow them to resist on the one hand tough and bitter competition...and on the other hand, to conduct repositioning strategies on high-end and small-quantity items. Tunisia is seeking to overcome the consequences of the economic crisis in Europe (inflation, drop in consumption, etc.), the same source says. It added that these constant efforts have helped it rank as the 8th supplier of the EU in clothing during the first three years of 2023 with a market share of 3.06%. The attractiveness of the Tunisian production site for European contractors can be strengthened through the new EU strategy which aims at sustainable development through a new business model (Circular Economy, the requirement of the digital passport of each product, the reduction of the carbon footprint of each product,...), says CETTEX. It added that this new strategy, which constitutes a challenge and an opportunity for our sector, requires the implementation of a rapid action plan (Quick wins) based on the following elements Improving the regulatory framework to encourage Green and Blue investments, facilitating Technology Transfer and capacity building (Know-how Transfer).

Source: Agence Tunis Afrique Presse