The output of Textiles, Wearing Apparel, and Leather Products in Belgium has shown a declining trend over the past decade. The annual data exhibit a negative year-on-year growth from 2013 onward, with significant drops in 2019 (-10.92%) and 2020 (-9.73%). The average compound annual growth rate (CAGR) over the last five years stood at -6.52%. Forecasted data from 2023 to 2028 predict a continuous decline, with a forecasted 5-year CAGR of -3.6% and an overall reduction of 16.76% over this period.
Future Trends: It will be critical to monitor factors such as technological advancements, shifts in consumer preferences toward sustainable and ethical products, as well as the impact of global trade policies on the Belgian textile industry. Companies may need to innovate and adapt their strategies to mitigate ongoing declines and capitalize on emerging market opportunities.
