The value added of textiles, wearing apparel, and leather products in Brazil has shown fluctuating trends over the last decade. Up until 2023, substantial variations were observed with some years reflecting significant growth, such as 2014 (6.03%) and 2017 (8.5%), while others suffered declines, notably 2020 with a decrease of 15.84%. However, 2021 and 2022 saw recoveries of 11.7% and 7.58%, respectively, with 2023 continuing the positive trend at 5.57%, reaching 63.96 Billion Brazilian Reals.
Over the last five years, the Compound Annual Growth Rate (CAGR) has been modest at 1.28%, indicating a steady increase on average. Looking ahead to the forecast period from 2024 to 2028, the projected CAGR stands at 1.6%, implying continued stable growth with an estimated total growth rate of 8.24% during these years.
Future trends to watch for include potential impacts from technological advancements in textile manufacturing, shifts in consumer behavior towards sustainable and ethically produced apparel, and global economic factors that could influence export markets. Monitoring these factors will be crucial for stakeholders in the Brazilian textile and apparel industry.
