Textile trade exceeds 2019 records and contributes 19.8 billion to the economy

The textile trade leaves the pandemic behind for good, and its data are already above those recorded in 2019. Specifically, according to a report prepared by AFI for the Spanish Textile Retail Association (ARTE) and presented this Monday in the Congress of Deputies, the activity of fashion retailers contributed to the Spanish economy up to €19.8 billion in 2022. This is 1.62% of the country’s GDP and represents up to 60% of the added value generated by the fashion sector. Of this impact, up to 8.8 billion euros were generated directly and another 5.7 billion indirectly. In addition, the textile trade generates more than 343,000 jobsOf these, 163,000 were direct and another 178,000 were indirect and induced.

The report by AFI indicates that the employment generated by textile retail already represents 2% of Social Security affiliation during 2022 and is a gateway to the labour market for groups as important as women and young people. Specifically, according to the Structural Business Survey, The female employment rate is 74.6% in this activity compared to the national average of 46.2%. Meanwhile, those under 30 years of age can account for up to 50% of the workforce in these companies.

‘Rain of millions’ for the Treasury

This added value also has an impact on taxes. Specifically, according to the study promoted by ARTE, the textile trade left millions in the Treasury in the aforementioned year: more than 6.3 billion of euros, 2.5% of all revenue collected in the country during 2022. Almost half through the cSocial Security contributions27% through the IRPFMeanwhile he IVA accounted for 19% of this figure and the Corporation tax barely 6% of the total contribution.

In addition, it is a fact that 8 out of 100 retail companies are dedicated to fashion and footwear. That is, some 60,000 companies, which between 2018 and 2022 earned an average of 40 billion euros each year. The textile retail industry also managed to attract foreign investment for an amount of more than 755 million euros in cumulative terms between 2007 and 2021. On the other hand, they also went into other markets investing up to 870 million euros in the last 15 years in almost 40 international markets.