ITMF: 6th survey shows improved turnover expe...
ITMF

6th survey shows improved turnover expectations

ITMF

What is the impact of the corona pandemic on the global textile value chain? Between November 20 and December 14, 2020, the International Textile Manufacturers Federation (ITMF), Zurich/Switzerland, conducted its 6th ITMF Corona-Survey. In total, 159 companies, ITMF members and affiliated companies and associations, from around the world participated.

In comparison to the 5th ITMF Corona-Survey (September 5-25, 2020), the turnover expectations for 2020 have improved in the 6th survey by 4 percentage points from -16% to now -12% compared to 2019.
For 2021 and the following years, turnover expectations have overall improved slightly. On average, the companies are expecting a small improvement from -1% (5th survey) to +3% (6th survey) compared to 2019. Also, for 2022 and 2023 the outlook has improved slightly from +9% (5th survey) to +11% (6th survey) and from +14% to +15%, respectively. The turnover expectations for 2024 – compared to the 2019 levels – have not changed (+18% in the 5th and 6th survey).
Due to the reduced turnover drop of -10% in 2020, the industry is expecting to recover the losses incurred in 2020 by the end of 2022.

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