The export of articles of apparel and clothing accessories from South Africa has seen a significant decline over the last decade. Starting from a peak in 2013, the value dropped consistently, evident from the 57.64% year-on-year decrease in 2013 and the 22.14% decrease in 2014. By 2017, exports had fallen sharply by 31.15%, followed by further gradual declines in subsequent years. In 2021, there was a brief rebound with a 14.5% increase. However, the trend reverted with decreases of 5.12% and 5.28% in 2022 and 2023, respectively. As of 2023, the export value stood at $0.6138 million USD, revealing a concerning downward trend.
Over the next five years, forecast data suggest a continued decline, with a 5-year CAGR of -5.47% and an overall decrease of 24.52% by 2028. This signifies a high probability of sustained contraction in this sector.
Future trends to watch for:
• Potential changes in trade policies and tariffs that could either alleviate or exacerbate the decline.
• Developments in global supply chain logistics that may impact export volumes positively or negatively.
• Shifts in consumer preferences and demand in key export markets which could influence orders and production levels.
• Technological advancements or innovations within the apparel manufacturing sector that could alter production efficiencies or cost structures.