In 2023, Italy led Europe's high growth enterprises in the wearing apparel sector, holding a significant share, despite a slight decline of 1.26%. Portugal, the second largest, experienced a sharp drop of 10.62%. Hungary bucked the trend with a 5.12% increase. Other declines were seen in the Czech Republic, Lithuania, Slovakia, and Latvia, with Latvia's being the steepest at 25.42%. Norway saw an 8.45% rise, albeit from a smaller base.
Future trends to watch in 2024 and beyond include the potential for digital transformation and sustainability practices driving growth, with countries like Hungary and Norway potentially gaining more prominence as they adapt to these changes.
Top countries in Number of High Growth Enterprises in Wearing Apparel Share by Country (Units (Enterprises))
| # | 8 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 50.95 | 2023 | +10.65% | -1.26% | View data |
| 2 | 2 Portugal | 18.28 | 2023 | -8.38% | -10.62% | View data |
| 3 | 3 Hungary | 10.59 | 2023 | +13.1% | +5.12% | View data |
| 4 | 4 Czech Republic | 5.02 | 2023 | -2.17% | -3.22% | View data |
| 5 | 5 Lithuania | 4.35 | 2023 | 0% | -6.98% | View data |
| 6 | 6 Slovakia | 1.9 | 2023 | -5.56% | -10.13% | View data |
| 7 | 7 Latvia | 1 | 2023 | -40% | -25.42% | View data |
| 8 | 8 Norway | 0.33 | 2023 | +50% | +8.45% | View data |
