For the UK textiles, wearing apparel, and leather products manufacturing sector, the Gross Value Added is forecasted to rise from 7.13 billion pounds in 2024 to 7.69 billion pounds by 2028. The industry experienced a growth rate of approximately 2% year-on-year from 2024 to 2028. The industry is continuing a modest growth trajectory, with a CAGR of approximately 1.9% over the forecast period. Prior to these forecasts, the sector's GVA stood at around 7.00 billion pounds in 2023, marking a steady upward trend.
Future trends to watch include technological advancements in textile manufacturing, a shift towards sustainable and ethical production, and the impact of changing trade policies post-Brexit, which could pose both challenges and opportunities for UK textile exporters.
