According to the February 2023 edition of Inegi’s Monthly Indicator of Industrial Activity (IMAI), the fashion industry’s production divisions ended the 2023 fiscal year with negative output results.
According to the Inegi report, December had a 6.8% decrease in apparel output when compared to the same month in 2022. In the meantime, a comparison of the total amount produced in 2022 and the cumulative figure for the fiscal year 2023 reveals a 9.6% decrease in apparel production in Mexico.
The two other manufacturing-related segments of the fashion sector likewise continued their downward trajectory.
In December, the production of “manufacturing of textile inputs and finishes” decreased by 8.4% annually. In contrast, compared to the same period in 2022, the shrinkage ended the 2023 cumulative year at 9.4%.
Lastly, there was a notable 12.4% decline in the “manufacturing of leather, fur, and substitute materials products.” 2% in December 2023 compared to December 2022, and a 2% decrease in production throughout the entire year.
