The textiles, wearing apparel, and leather products manufacturing sector in Belgium has shown a significant decline in employee hours over the past decade. From 2013 to 2023, there's been a steady annual reduction, culminating in a workforce contribution of 22.8 million hours in 2023. Year-on-year variations highlighted notable drops, especially in 2020 (-14.16%) due to the pandemic, followed by a brief recovery in 2021 (+9.96%) before resuming its downward trajectory. The last five years have an average annual decline of 4.6%.
Looking ahead, from 2024 onwards, the forecast indicates a consistent decline with a forecasted 5-year Compound Annual Growth Rate (CAGR) of -5.2%, suggesting the sector will shrink further to 16.4 million hours by 2028, a 23.43% decrease compared to 2023.
Future trends to watch for:
• Digital transformation and automation may continue to reduce the need for manual labor.
• Shifts in consumer demands towards sustainable and ethically produced goods.
• Potential impact of global economic factors on the Belgian manufacturing sector.
• Changes in trade agreements and regulations post-Brexit and other geopolitical shifts.
