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All In America? Spain Leaves 400 Million Euros In The US In 2023

The American dream clicked in Spain. the Spanish fashion exports to the United States decreased by 26.3% during 2023, the largest decline in the group of the ten largest national fashion clients. Specifically, the sector exports fashion to the US worth 1,142 million euros, 408 million euros less than last year.

The decline in the exports of the American giant occurs at a time when Many companies are again looking to more mature markets, including the United States as the main goal. Spanish companies like Mango or Tous, for example, have expansion plans underway.

Despite the decline, which places the country as the eighth largest fashion client in Spain, the sector America exports more power now than it did before the pandemic hit. Specifically, the American market received almost 2% more than in 2019, according to data published this morning by Icex España Exportación e Inversiones.

Another big drop in Spanish fashion customers is in the United Kingdom. Exports of goods from the sector to the country reached 1,922 million euros, 21.8% lower than in 2022. The exports of the British country decreased for the first time since before 2018, putting in the sixth position of the group, compared to the fourth that it occupied in 2022.

The biggest drop, however, was experienced in the Mexican sector. Spanish fashion exports goods worth 565 million euros in the country, up 32.9% less than in 2022, which allows it to leave the group of ten main clients in the sector and fall to the thirteenth position.

The Mexican market, however, experienced irregular ups and downs frequently in recent years. In particular, in 2022 Spain exported fashion worth 843 million euros, 571 million euros in 2021 and reached 629 million euros in 2019.

France remains the main client of Spanish fashion, with exports worth 4,794 million euros in 2023. Spanish fashion sales in France increased by 7% compared to 2022and up to 42% compared to 2019, when Spanish fashion exports reached 3,379 million euros.

Italy also maintained its silver medal as Spain’s second largest fashion client. The sector exports fashion in Italy worth 3,554 million euros, 10.4% more than in 2022. The Italian market, which is also one of the main clients of Spanish fashion, bought 340 million euros from Spain than in 2022. Compared to 2019, the Spanish fashion sector also strengthened its position in Italy, where it exported 36% more

The customer podium was closed by Portugal, which also maintained its position compared to last year. Fashion exports in 2023 registered an increase of 7.3%, with sales of 2,866 million euros.

the The decrease in exports of the United Kingdom also allowed the entry of another European country in the fourth position: Germany. The Spanish fashion sector exports fashion to the country worth 2,591 million euros, 10.3% more than in 2022.

The biggest growth in the group, however, was experienced in Poland. In particular, exports from the fashion sector grew by 25% in 2023, reaching 2,043 million euros. In absolute terms, moreover, this represents an increase of more than 400 million euros compared to 2022. The rise of the country as a fashion destination in Spain has remained constant in recent years, and it is also the one that has grown the most since 2019.

Türkiye also managed to enter the group of the biggest fashion clients in Spainand the sector increases the country’s exports by up to 21.7% compared to 2022. Specifically, Spanish fashion exports goods worth 975 million euros, up to 169 million euros more than the absolute terms.

The seventh largest customer of Spanish fashion is Morocco, where the sector exports goods worth 1,504 million euros, 1.8% less than in 2022. The African country lost one position in the list, reaching seventh placeand it is also the country where Spain increased its exports the least since 2019.

The Netherlands remains in ninth position in the group, although Spanish fashion increases its exports to the country by 9.3% in 2023. Exactly, the sector sells fashion worth 999 million euros in the Netherlands. Sales also registered an increase of 40% compared to 2019, recovering and even surpassing their weight since before the pandemic.

On a global level, despite the good performance of the leading group, The sector closes in 2023 with sales abroad worth 31,534.5 million euros, a decrease of 3% compared to last year. This is the first time that exports fell in the last ten years, without considering the pandemic.