ITMF: 5th Corona Survey shows reduced product...

5th Corona Survey shows reduced production capacity


Between September 5 and 25, 2020, the International Textile Manufacturers Federation (ITMF), Zurich/Switzerland, conducted its 5th ITMF Corona Survey among ITMF members and affiliated companies and associations about the impact the Corona pandemic has on the global textile value chain. In total, 216 companies from around the world participated. They report that the corona pandemic led to a significant reduction of production capacities. 23% of the respondents reduced production by more than -30% and another 19% by -20% to -30%. On the other side of the spectrum - and unsurprisingly - only 9% of companies have increased their production capacity during the pandemic. 21% did not make any change.

Furthermore, 21% of all surveyed companies are expecting turnover to be back to pre-crisis level in 2020. 11% of companies think it is more likely to happen in the 1st quarter (Q1) of 2021, 15% in the Q2/2021, and 17% in Q3/2021. It is important to note that 25% of all companies are expecting turnover to reach pre-crisis levels in 2022 and 2023 (see graph).
When asked about the expected turnover in 2020 compared to 2019 since the beginning of the corona pandemic, the companies’ expectations have significantly improved since 4th survey. While in the beginning of June companies were expecting a drop in turnover of around -32%, the expected reduction fell to -16% by the middle of September 2020.

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