The import of sewing thread of synthetic filaments to South Africa has had a varied historical trend. From 2013 to 2016, there was a noticeable decline. For instance, it dropped by 21.58% in 2016 from the previous year. However, 2018 saw a turnaround with a 12.98% increase, although it decreased to 4.2348 million USD by 2019. The year 2020 experienced a significant dip but rebounded in 2021 with a growth of 20.97%. The values remained steady around 4.3 million USD by 2023, barely changing since 2022 with minor increases of 0.39% and 0.38% respectively.
Looking ahead, the forecast from 2024 to 2028 shows a slow yet steady growth trajectory, with values expecting to rise from 4.3209 to 4.3889 million USD. The compound annual growth rate (CAGR) over these five years is expected to be 0.31%, indicating minimal but consistent growth.
Future trends to watch for include the stabilization of the market in response to global economic conditions and changes in demand for textiles. Key factors may include advancements in synthetic filament technology, shifts in fashion, and economic policies affecting trade.
