The production volumes of textiles and wearing apparel in Austria stood at EUR 1.74 billion in 2023. The forecasted data from 2024 to 2028 shows a decreasing trend with production values of EUR 1.7 billion, EUR 1.64 billion, EUR 1.57 billion, EUR 1.51 billion, and EUR 1.45 billion respectively. This represents a year-on-year percentage decrease of approximately 3.5% for 2024, 3.5% for 2025, 4.3% for 2026, 3.8% for 2027, and 4.0% for 2028.
The Compound Annual Growth Rate (CAGR) over the five-year period from 2024 to 2028 indicates an average annual decline of about 3.82%.
Key future trends to watch for in this sector include the impact of technological advancements in textile manufacturing, sustainability initiatives driving production changes, and shifts in global trade policies. Additionally, monitoring consumer preferences towards sustainable and eco-friendly textiles will be crucial for future market strategies.
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