The data indicates a consistent decline in the imports of pile knit or crochet fabric of natural yarn not cotton to Canada from 2024 onwards, decreasing from $317.48 thousand in 2024 to $194.75 thousand in 2028. This demonstrates a year-on-year decreasing trend, with an average compound annual growth rate (CAGR) showing a negative growth over the forecasted period.
In 2023, the actual value stood at $348 thousand, which highlights a significant downward trajectory beginning in 2024.
Future trends to watch for:
- Shifts in consumer preference towards sustainable or locally produced textiles might impact future import demands.
- Changes in international trade policies or tariffs could affect pricing and supply chain dynamics, further influencing imports.
