Forecast: Textiles Exports to the US by Turkey

Turkey's textile exports to the US have shown a general upward trend from 2013 to 2023, starting at $669.59 million and rising to $1271.3 million. The annual growth rate has fluctuated, with notable increases in certain years, such as in 2017 and 2018. Despite a minor dip in 2020 due to global challenges, the exports rebounded, with a year-on-year growth of 3.15% in 2023.

Variations over the last two years indicate stable growth, with a YoY increase of 3.32% in 2022 and 3.15% in 2023. The compound annual growth rate (CAGR) over the last five years stands at 2.8%.

Forecasted data suggests that the upward trend will continue, with an estimated CAGR of 2.33% from 2024 to 2028, resulting in a forecasted value of $1474.2 million by 2028.

Future trends to watch for:

• Potential impact of global trade regulations and tariffs.
• Technological advancements in textile manufacturing processes.
• Sustainability initiatives and their impact on export values.
• Economic conditions in the US and Turkey influencing trade patterns.