CLOTHING MANUFACTURING EXPENSES IN CANADA.
In 2023, Canada's clothing manufacturing expenses were valued at $2.2764 billion CAD. From 2024 onwards, expenses are forecasted to decrease annually as follows: $2.156 billion in 2024, $2.0356 billion in 2025, $1.9163 billion in 2026, $1.7983 billion in 2027, and $1.6814 billion in 2028.
Year-on-year variations:
- 2024: -5.29%
- 2025: -5.58%
- 2026: -5.86%
- 2027: -6.15%
- 2028: -6.50%
The average annual decline (CAGR) over the five-year forecast period is -6.27%.
Future trends to watch for: Increase in automation and technological advancements in manufacturing processes may drive efficiencies. Additionally, a shift toward sustainable and locally-produced clothing could impact costs dynamics. Monitoring the global supply chain, raw material availability, and trade policies will be critical.
