Textile sector contributed Au$27.2 bn to Australian economy in 2020-21

02 Jun '21
2 min read
Pic: Shutterstock
Pic: Shutterstock

The Australian fashion and textile industry contributed more than Au$27.2 bn to the country’s economy in 2020-21, according to a recent report. The sector employing 489,000 Australians (315,000 full time) - more than mining, utilities or arts and recreation industries, generated Au$7.2 bn in export revenue, totalling 1.7 per cent of all Australian exports.

The Australian fashion and textile industry creates opportunities for women, with 77 per cent of the workforce female, compared to the national average of 47 per cent, as per the Australian Fashion Council (AFC) report titled High Fashion to High Vis: The Economic Contribution of Australia’s Fashion and Textile Sector, commissioned to EY and supported by Afterpay.

While the industry was able to weather the worst effects of COVID-19 with a strong shift towards online sales, the research said that leading industry challenges are rising business costs and supply chain volatility. For future growth, areas of continued focus for the industry will be responsible, circular business models where sustainable sourcing and recycling are paramount.

“This ground-breaking report highlights the true economic clout of our dynamic and diverse industry. Until now, the comprehensive value of the industry’s economic contribution – and its predominantly female workforce – has not been fully recognised. Now we can better understand the impact of this sector’s significant role in Australia’s creative economy, and the substantial potential of its future,” said AFC CEO, Leila Naja Hibri.

The report is the most comprehensive study of the entire fashion and textile ecosystem in Australia. It shifts the focus from consumer trends towards the industry’s economic and workforce contribution, its current challenges and what will shape its future development, the AFC said in a press release.

Fibre2Fashion News Desk (KD)

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