The production volumes of textiles, wearing apparel, and leather products in Chile saw varied performance over the past decade. In 2023, the industry stood at 1.3395 trillion Chilean Pesos. Over recent years, significant fluctuations were observed, notably a substantial decline of -17.07% in 2020 followed by a robust recovery of 20.39% in 2021. The industry growth slightly decreased in 2022 and 2023, with year-on-year variations of -0.077% and -0.075%, respectively. The five-year compound annual growth rate (CAGR) up to 2023 was -0.27%.
Future forecasts predict a nominal decline, with a CAGR of -0.06% over the next five years and an overall reduction of -0.31% in production volumes by 2028. Key trends to watch for include shifts in consumer behavior, global supply chain disruptions, and advancements in sustainable textile production methods.
- In 2020, production volumes dropped significantly by -17.07%.
- 2021 marked a recovery with a 20.39% increase.
- Subsequent years saw slight downturns, with -0.077% in 2022 and -0.075% in 2023.
- The forecast indicates a gradual decline with a -0.06% CAGR over the next five years.
