Valencian Textile Finishing Industry to Raise Rates

The textile finishing sector of the Spanish autonomous region of Valencia will increase rates between 6 and 8 percent next year due to the rising prices of labour, raw material and energy, coupled with reduced demand.

Textile Employers Association of the Valencian Community (ATEVAL) said the increase in rates will, in turn, impact the final price of textile items sold to the retail consumer.

ATEVAL said the textile finishing sector in the Valencian region, which is mainly concentrated in L'Alcoy, the Comtat and Vall d'Alba regions, is currently finding it difficult to remain competitive.

The labour-intensive textile finishing sector in Valencia has 111 companies that employ around 1860 workers and have a turnover of more than 196.5 million euros.

During the last five years, these companies have lost 37 percent of turnover, 52 percent of employment and 40 percent of firms, ATEVAL said. It added that the last two years have witnessed a decline of 30 percent in sales.

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