The Wearing Apparel sector in Turkey has shown consistent growth from 2013 to 2023, rising from 50.58 billion to 193.71 billion New Turkish Liras. The year-on-year growth rate peaked in 2018 at 29.08%, followed by a general deceleration, reaching 7.33% in 2023. Over the last five years leading up to 2023, the Compound Annual Growth Rate (CAGR) was 10.52%, indicating a steady increase despite some fluctuations. Future forecasts predict a continued but moderate growth, with a forecasted 5-year CAGR at 4.51% by 2028.
Future trends to watch for in the Wearing Apparel sector in Turkey include:
- Impact of global economic conditions on local production and export
- Technological advancements in production efficiencies and sustainable practices
- Shifts in consumer behavior towards e-commerce and fast fashion
- Government policies and trade agreements affecting the apparel industry
