Europe is witnessing a downward trend in the trade of industrial textiles due to a decrease in the industrial activities in Europe. The continent is facing disastrous impact of Russia-Ukraine conflict and upheaval on the business front. According to an analysis, import-export of industrial textiles has seen a steep fall in the second quarter of this year.
Europe’s exports of industrial textiles declined to $1.776 billion in the second quarter of this year. The exports were $2.429 billion in the first quarter of 2022. In 2021, the region had exported industrial textiles worth $2.518 billion in the second quarter, $2.344 billion in the third quarter and $2.429 billion in the fourth quarter.
Monthly export figures of industrial textiles dropped sharply to $176.142 million in June 2022 from $806.275 million in May 2022. The exports further declined to $26.321 million in July this year.
A similar trend was witnessed in imports of industrial textiles too, which are imported into Europe for other industrial sectors. The imports declined to $1.544 billion in the second quarter of this year from $2.092 billion in the first quarter of 2022. In 2021, they were at $2.138 billion in the second quarter, $2.003 billion in the third quarter, and $2.053 billion in the fourth quarter.
Europe’s monthly imports of industrial textiles fell to $211.368 million in June 2022 from $692.706 million in May 2022. The imports stood at $61.783 million in July this year.
