ECONOMY

Apparel and textiles suffer decline in sales

The apparel and textile sectors in Greece are in a dire situation, Hellenic Fashion Industry Association (SEPEE) data indicated this week.

The picture is worse for the apparel sector, as in the first four months of this year, the value of apparel production declined by 28.5 percent year-on-year, while turnover dropped 20.1 percent.

The sector also saw a 29.1 percent drop in the value of retail sales.

Textiles only saw a 3 percent drop in turnover in the year to April, but textile exports fell 67 percent in the same period on an annual basis, although SEPEE expects an uptick in the following months.

Imports posted a bigger drop of 14.6 percent year-on-year.