The export value of knitted or crocheted fabric from Turkey saw fluctuations in the last decade, with notable peaks and troughs. The export value increased from $1.6819 billion in 2013 to $1.7367 billion by 2023. However, significant declines were observed in 2015 and 2020, attributed to various market dynamics and global events. Despite these dips, a recovery trend emerged post-2020, with a gradual increase leading up to 2023. The CAGR over the last five years also shows a modest increase of 2.48%.
Key observations include:
- Year-on-year variations showed considerable volatility, with the highest increase of 23.15% in 2021 and a significant drop of 15.08% in 2020.
- The forecast for the next five years suggests a steady upward trend, with an average annual growth rate of 1.56%, culminating in an 8.05% growth over the period leading up to 2028.
Future trends to watch for include potential impacts of global trade agreements, advancements in textile technology, shifts in consumer demand, and economic factors affecting Turkey's production capabilities. Monitoring these elements will provide better insight into the long-term stability and growth of Turkey's knitted or crocheted fabric exports.
