The output of the textiles, wearing apparel, and leather products manufacturing sector in Sweden showed a general upward trend from 2013 to 2019, peaking at 13.21 billion SEK in 2019. This was followed by a sharp decline of 9.88% in 2020 due to potential disruptions from the global pandemic. The market partially recovered in 2021 with a 4.25% increase and stabilized at 12.41 billion SEK from 2022 onwards. In 2023, the output remained steady at 12.41 billion SEK, indicating a flat growth trend.
Year-on-year variation over the past two years has shown minimal change, with a 0.0081% increase in 2023. The Compound Annual Growth Rate (CAGR) over the last five years prior to 2023 was -0.79%, indicating a slight decline on average per year following the peak in 2019.
Looking ahead, the forecast suggests output will remain stable at approximately 12.42 billion SEK from 2024 to 2028 without significant growth or decline. The forecasted CAGR over the next five years stands at 0%, reflecting a static growth rate.
Future trends to watch for:
- Potential impacts of technological advancements in textile manufacturing
- Sustainable practices and eco-friendly materials influencing market dynamics
- Changes in consumer preferences and demand for high-quality, custom-fit clothing
- Possible effects of trade policies and economic conditions on the textile industry
