The production of textiles in Sweden has shown varying year-on-year growth trends over the past decade. The industry experienced growth from 2013 to 2019, reaching a peak in 2019 at 9.35 billion SEK. However, there was a significant dip in 2020 with a 17.04% decrease, likely due to the global impact of the COVID-19 pandemic. Recovery was swift, with a notable increase of 21.87% in 2021. By 2023, the production stood at 9.67 billion SEK, reflecting a gradual upward trend with a year-on-year growth of 1.09%. The compound annual growth rate (CAGR) for the last five years (2018-2023) was 1.43%, indicating steady improvement.
Future trends to watch for:
- Continued recovery and modest growth forecasted with a CAGR of 0.86% from 2024 to 2028.
- Potential impacts of sustainability initiatives and technological advancements in textile production.
- Market adaptability to geopolitical and economic changes affecting global supply chains.
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