The export value of leather clothing accessories from the UAE stood at USD 18.729 million in 2023. Starting from 2024, a gradual decline is forecasted, with the value expected to decrease to USD 18.479 million in 2024, USD 18.229 million in 2025, USD 17.984 million in 2026, USD 17.744 million in 2027, and USD 17.509 million in 2028.
The year-on-year percentage variation shows a consistent decline with a drop of 0.30% from 2023 to 2024 and continuing downward trends annually up to 2028. The compound annual growth rate (CAGR) over the forecasted period of five years indicates an average annual decrease of approximately 0.66%.
Future trends to watch for include the impact of changing fashion trends, shifts in consumer preferences towards sustainable and ethical products, and potential trade policy changes. Moreover, technological advancements in leather processing and substitute materials could significantly affect the market dynamics.