The export of Wool, Animal Hair, Horsehair Yarn and Fabric from Spain reached $127.89 million in 2023. The year-on-year variation from 2022 to 2023 showed a minor decline of 0.78%. Reviewing the last two years, 2021 showed a robust rebound with a 19.52% increase post the COVID-19 dip in 2020, followed by small declines in 2022 and 2023. The five-year CAGR from 2018 to 2023 stood at -1.01%, indicating overall contraction in export values.
Forecasts till 2028 project a continued decline, with a five-year CAGR of -0.66% and an expected cumulative decline of 3.25% by 2028. These figures suggest a persistently challenging market environment for this sector.
Future trends to watch for include:
- Global economic conditions impacting the textile industry.
- Changes in consumer preferences towards sustainable and alternative materials.
- Technological advancements in textile production and processing.
- Tariff changes and trade agreements influencing export dynamics.
