Between 2013 and 2023, the output of textiles in Brazil experienced overall growth despite minor fluctuations. The actual data reveals a steady upward trend from 46.63 billion Brazilian Reals in 2013 to 59.57 billion in 2023. The year-on-year variations fluctuated with a peak growth of 8.74% in 2017. However, the last two years reflect moderate growth rates of 2.39% in 2022 and 2.31% in 2023. The compound annual growth rate (CAGR) for the latest five-year period stands at 1.68%.
Future trends indicate a continued increase with a forecasted CAGR of 1.65% over the next five years, projecting the output to reach 66.09 billion Brazilian Reals by 2028. The forecasted growth rate over this period is 8.53%.
Future trends to watch for include technological advancements in textile manufacturing, increased demand for sustainable practices, and potential economic shifts in Brazil's market conditions which may influence the textile industry's growth trajectory.
