The output of textiles, wearing apparel, and leather products in Australia has exhibited a fluctuating trend over the past decade. From 2013 to 2023, values have oscillated with both increases and decreases, experiencing slight declines between 2021 and 2023, ultimately standing at 5.6 billion Australian dollars in 2023. The year-on-year variations highlight a mostly negative trend in recent years, emphasizing a -0.39% change from 2022 to 2023. The CAGR for the past 5 years leading up to 2023 is -1.08%.

Looking ahead, the forecasted data from 2024 to 2028 anticipates a continuous, gradual decline, reaching 5.49 billion Australian dollars by 2028 with an average yearly decrease (CAGR) of -0.31%. This denotes a forecasted 1.56% total decline over the next five years.

Future trends to watch for:

Potential impacts of technological advancements and automation in manufacturing processes.
Shifts in consumer preferences towards sustainable and ethically produced textiles.
Changes in trade policies and international market dynamics that could affect export potential.