Forecast: Production of Textiles in Austria

The production of textiles in Austria experienced fluctuations over the past decade. In 2023, the industry stood at 1.45 billion euros, with year-on-year variations and CAGR reflecting these changes. The decline in 2020 marked a significant drop, recovering slightly by 2021 but then contracting again in subsequent years. The five-year CAGR from 2023 onward indicates a continued decline at an average annual rate of -0.67%. The year-on-year variation for 2022 and 2023 remained negative, highlighting a downturn in production value.

Future trends to watch for include:

• The impact of sustainable and eco-friendly materials on production volumes.

• Innovations in textile manufacturing technologies.

• Changes in global trade policies affecting Austria's textile exports.

• Economic factors influencing consumer demand for textile products.