4th ITMF-Survey about the Impact of the Corona-Pandemic on the Global Textile Industry
Between May 20th and June 8th, 2020, ITMF has conducted its 4th ITMF Corona-Survey among ITMF members and affiliated companies and associations about the impact the Corona-pandemic had on the global textile value chain. In total around 600 companies from around the world participated.
On a global scale, current orders continue to be down on average by more than -40% (Graph 1).When looking at expected turnover in 2020 compared to 2019, the expectations remained unchanged since the 3rd ITMF Corona- Survey. On average, companies are expecting their turnover to plummet by -32%. The range between regions differs with from -22% in South East Asia to -36% in East Asia (Graph 2).
When looking at the different segments in the textile value chain, all segments – from spinners to garment producers – recorded significant decreases in orders (Graph 2). Also, integrated producers seem to have fared slightly better with -26%, while the other segments expect turnover in 2020 to be falling in the range of -31% to – 34% (Graph 3).
Asked when pre-crisis levels are reached again, the majority (23%) is expecting this to be in the 1st quarter of 2021, followed by 21% that are expecting this to be the case in the 2nd quarter of 2021. Another 14% have the expectations that this will be the case in the 3rd quarter of 2021. Nevertheless, 20% of companies are expecting a faster recovery in the 4th quarter of 2020 (Graph 4).
Join Us Now
Join 80.000 Middle East and North Africa Textile Professionals who get Kohan Textile Journal’s FREE Newsletter…