ITMF: Orders down by 40% due to corona pandem...
ITMF

Orders down by 40% due to corona pandemic

ITMF

Between May 20 and June 8, 2020, the International Textile Manufacturers Federation (ITMF), Zurich/Switzerland, 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%. 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.
All segments in the textile value chain recorded significant decreases in orders. 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%.
Asked when pre-crisis levels are reached again, the majority (23%) is expecting this to be in the 1st quarter (Q1) of 2021, followed by 21% that are expecting this to be the case in the 2nd quarter of 2021. Nevertheless, 20% of companies are expecting a faster recovery in Q4/2020.

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