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Europe's home textile imports decline to below pre-pandemic levels

Insights

• Geopolitical unrest, high inflation and economic challenges have sharply reduced the purchasing power of European consumers, leading to a decline in home textile imports.
• After a pandemic-induced surge in demand, imports decreased from a peak of $**.*** billion in 2020 to $**.*** billion in 2023.
• The Russia-Ukraine conflict exacerbated the situation.