The on-going sluggish growth across the Eurozone coupled with the falling value of the Euro in comparison to Stirling over the past few years (the £ now stands at €1.44 having been as low as €1.15 in early 2013) had made the cost of importing goods from the UK higher. Theotretically, these tougher conditions would make it more difficult for British fashion exporters looking to sell to countries within the Eurozone.
However, the most recent figures for apparel exports from the UK into the Eurozone and the wider EU show that these key markets have remained bouyant, even in the face of the forces that are causing major difficulties for other sectors of the export economy.
Indeed, q3 2015 export figures show almost £1.1bn to the European Union, higher than both the respective quarters in 2013 and 14. Coupled with this, export values in q1 and q2 2015 were also higher in comparison to previous years showing an obvious resiliance and bouyancy amonsgt European buyers for UK fashion.
Table 1: Exports of apparel into the EU
Focus on Germany
How do these figures across the EU look for Germany, the UKs biggest export market for apparel and the largest economy within the EU.
The latest figures for Germany show how q3 2015 apparel exports were slightly higher than reported in the corresponding quarter in 2014, being worth almost £244 million. Indeed, this pattern has been consistent across 2015 with each quarter showing slight growth on each corresponding quarter. These figures show that there is currently a good resilience within the largest export market for UK apparel within the EU.
Table 1: Exports of apparel into Germany
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