Between 2013 and 2023, Türkiye's household expenditure on clothing and footwear as a unit of GDP exhibited a general downward trend with occasional fluctuations. From a level of 4.8 in 2013, there was a notable decline, particularly highlighted by the sharp decrease of 15.91% in 2020. The subsequent recovery in 2021 and 2022 was short-lived, as the expenditure again decreased in 2023 by 6.82%. Over the last five years, the CAGR stood at -0.95%, showcasing a consistent but relatively modest decline.
Looking forward to the forecasted period from 2024 to 2028, the household expenditure on clothing and footwear is expected to continue its downward trajectory, decreasing to 3.8 by 2028. The CAGR for this forecasted period is -1.02%, indicating a steady decline. Key trends to watch will include potential shifts in consumer behavior, economic policies, and broader economic conditions in Türkiye that could impact these expenditures.
