In 2023, the UK imported 287.45 thousand kilograms of parts and accessories of looms and auxiliary machinery. The forecast for 2024 to 2028 shows a consistent decline in import volumes, starting at 278.86 thousand kilograms in 2024 and decreasing to 243.16 thousand kilograms by 2028. The year-on-year change indicates a decreasing trend of roughly 2-3% annually. The 5-year compound annual growth rate (CAGR) is negative, reflecting a steady reduction in import volumes.
Key future trends to watch include:
- Technological advancements potentially reducing the need for loom parts.
- Shifts in the global supply chain affecting import patterns.
- Changes in UK domestic manufacturing capabilities and policies that could influence import demands.