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High Fashion to High Vis | The Economic Contribution of Australia’s Fashion & Textile Sector

The AFC is excited to release the findings from a new report commissioned to EY, and supported by Afterpay. It is the most comprehensive study of the entire fashion and textile ecosystem in Australia, highlighting a $27.2 billion contribution to the Australian economy in 2020-21.

by The AFC

31 May 2021

The report titled High Fashion to High Vis: The Economic Contribution of Australia’s Fashion and Textile Sector 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 report has delivered some astounding figures on the value of the Australian fashion and textile industry including:  

- It contributes more than $27.2 bn to the Australian economy*

- It employs 489,000 Australians (315,000 full time) - more than mining, utilities, or the arts and recreation industries

- It generates $7.2 bn in export revenue, totalling 1.7% of all Australian exports, more than double the value of wine and beer exports

- It creates opportunities for women, with 77% of the workforce female, compared to the national average of 47%

 

While the industry was able to weather the worst effects of COVID-19 with a strong shift towards online sales, the research shows leading industry challenges being 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.”

- AFC CEO, Leila Naja Hibri 

The full report can be accessed here:

From High Fashion to High Vis: The Economic Contribution of Australia’s Fashion and Textile Industry

* All figures 2020-21

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