The European Branded Clothing Association (EBCA) has emphasized the significant contribution of the branded fashion industry to economic growth and trade within the European Union (EU).
Representing over 75 prominent fashion brands across 14 global companies, EBCA recently released new insights derived from a study by Oxford Economics regarding the EU’s fashion sector.
According to the findings, the fashion industry contributes approximately €331.8 billion ($382.85 billion) to the EU’s GDP annually, which accounts for nearly 2% of the total EU GDP. This sector plays a crucial role in generating jobs, driving trade, fostering innovation, and enhancing prosperity throughout the continent.
The direct GDP contribution from the fashion industry represents around 8.5% of the entire retail and trade sector in the EU. For every €1 of gross value added (GVA) produced by the fashion industry, an additional €5 in GVA is triggered in other sectors across the EU.
Isabelle Maurizi, director general of EBCA, commented on the findings, stating that they illustrate how Europe’s branded clothing sector is an essential driver for job creation, innovation, and global competitiveness. She noted, “We’re committed to advancing a forward-looking trade agenda that supports sustainability, predictability, and a stronger voice for European brands and consumers in the global economy.”
These findings were unveiled at an event attended by EU policymakers, leaders from major fashion brands, and advocates for sustainability, all gathering to discuss the future of one of Europe’s most creative and globally connected industries.
The study also revealed that branded clothing accounts for 80% of the EU’s clothing retail market. Furthermore, the EU stands as the largest global importer of apparel, footwear, and bags, and is the second-largest exporter in these categories.
In addition, the research highlighted the fashion sector’s substantial employment impact, with women making up 62.8% of the workforce. EBCA believes that the results of this study and the discussions at the event underscore the fashion sector’s pivotal role in promoting a more sustainable and equitable future for branded clothing, driven by responsible business practices and innovation.
