The value added of textiles, wearing apparel, and leather products in Austria saw fluctuations from 2013 to 2023, peaking in 2015 at 1.08 billion euros, followed by a steady decline, reaching 0.888 billion euros in 2023. Year-on-year percentage variation indicates a consistent downward trend, as demonstrated by a -1.81% decrease in 2023. The average annual decline over the last five years, or CAGR, stands at -1.65%, highlighting significant contraction in the industry.

Future trends to watch for:

Technological innovations and smart textiles potentially revitalizing the sector
Increased demand for sustainable and eco-friendly products affecting consumer preferences
Economic recovery post-pandemic could moderate the rate of decline or stimulate growth
Shifts in global supply chains impacting domestic production and competitive dynamics