The value added of textiles, wearing apparel, and leather products in Spain has seen a steady increase from 2013 to 2023, starting at 8.16 billion euros in 2013 and reaching 9.64 billion euros in 2023. The growth over this period shows an overall positive trend despite some fluctuations. For instance, in 2018, there was a slight decline compared to 2017, but this was followed by a recovery in subsequent years. The year-on-year variation indicates minor yet consistent growth, with the rate of increase gradually slowing down over time.
Notably, over the last two years (2021-2023), the year-on-year growth was approximately 0.9%. The five-year compound annual growth rate (CAGR) leading up to 2023 stands at 1.02%, reflecting moderate but stable growth in this sector.
The forecast from 2024 to 2028 predicts a continued upward trend, with the value added expected to reach 10.05 billion euros by 2028. The projected five-year CAGR for this period is 0.65%, indicating a slight deceleration in growth rate compared to previous years but still maintaining a positive trajectory.
- Stable growth trend from 2013 to 2023 with minor fluctuations
- Consistent year-on-year growth around 0.9% over the last two years
- Five-year CAGR around 1.02% up to 2023
- Forecasted continuity of growth with a slight deceleration in the five-year CAGR to 0.65%
Future trends to watch for include changes in consumer behavior towards sustainable and eco-friendly products, advancements in textile and apparel technology, and potential impacts of global trade policies on the Spanish textile and apparel market.