The first Corona-Survey of the International Textile Manufacturers Federation (ITMF), Zurich/Switzerland, in the 2nd half of March indicated already the dire consequences of the demand and supply shock. Between March 28 and April 6, 2020, ITMF has conducted a 2nd survey among ITMF members and affiliated companies and associations about the impact the corona pandemic on the global textile value chain, especially on current orders and expected turnover in 2020. In total 700 companies from around the world participated.
The results show that companies in all regions of the world suffered significant numbers of cancellations and/or postponements of orders. Globally, current orders dropped by -31 % on average. The severity of the decrease ranges from -20 % in East Asia to -41 % in South America.
The results show that companies in all regions of the world are expecting their turnovers in 2020 to be significantly lower than in 2019. On world average, the turnover in 2020 is expected to be -28 % lower than in 2019. While in South Asia the expected turnover will fall by -15 %, companies in Africa are expecting a drop of -45 %. Furthermore, the ITMF Corona-Survey revealed that the companies are struggling with many issues. The 2 most important and pressing issues are to keep the workforce safe, and to have enough liquidity to cover all the running expenses.