EU socks imports were up 25.7 per cent in 2017 compared to 2013. More than 75 per cent of these imports came from two countries - Turkey and China. Turkey has a 33.6 per cent share of the EU market while China has a 38 per cent share.

In terms of quantity, China has emerged as leader thanks to price competitiveness and leads in synthetic fiber socks. Turkey holds a strong position in cotton socks. But China sells more socks because of its price advantage.

Turkish labor, input and production costs are high. However one advantage of socks made in Turkey is they are three hours away from the EU and can be delivered in a short time of around three days.

Among the EU countries, Germany, UK and the Netherlands were the largest importers. The combined share of these three countries was over 56 per cent.

Turkey has jumped to second place after China in socks exports globally. With its modern machinery park, and high production and export capacity, Turkey has been inking its name in the global textile market. There are more than 300 socks factories in Turkey with medium and large-scale production capabilities.

China is number one but the Chinese socks industry is looking sick. Inventories are piling up and excess capacity is a problem.