The import of chenille fabric of manmade fibres to Turkey exhibited significant decline over the past decade. The value, starting from 707.18 thousand kilograms in 2013, has progressively decreased to 109.16 thousand kilograms in 2023. This represents a steep drop as the market saw a segmental reduction with the largest decrease in 2014 and frequent volatility thereafter. The year-on-year variation over the past two years indicates a further decline of 10.36% in 2022 and 11.32% in 2023. The CAGR over the last five years showcases an average year-on-year decline of 11.69%.
Looking forward from 2024 onwards, forecasts indicate a continuation of the downward trend, with import values expected to plummet by an average of 17.29% annually until 2028. Specifically, imports are anticipated to reduce by 61.28% over the five-year forecast period, falling from 93.85 thousand kilograms to 36.34 thousand kilograms by 2028.
Future trends to watch for include:
- Changes in demand for home and fashion textiles.
- Shifts in global trade policies and economic conditions impacting imports.
- Technological advancements in alternative fabrics.
