ITMF Survey: Parts Of Global Textile Orders Are Dropping Rapidly.

The International Federation of textile manufacturers (ITMF) recently conducted a second survey of its members and their Affiliated Companies and associations (March 28th to April 3rd) to understand the impact of the new crown pneumonia epidemic on the global textile chain. About 700 companies took part in the survey.

The second survey shows that companies around the world have largely cancelled and / or postponed orders. Globally, orders have fallen by 31% on average, ranging from 20% in East Asia to 41% in South America. Companies around the world expect 2020 turnover to be significantly lower than in 2019. On a global average, turnover in 2020 is expected to be 28% lower than in 2019, with the expected turnover in South Asia going down by 15% while Africa's companies are expected to fall 45%.

Prior to this, ITMF's first survey (34 companies in from March 13th to 25th and 2 National Textile associations) showed that companies in all parts of the world suffered a lot of cancellation or postponement, and orders fell by an average of 8%. Orders fell from 4% in South America to 13.3% in Africa. The average decline in North America is expected to be 7.5%, and European companies are expected to fall by 17.5%.

It should be noted that three weeks ago, some areas were not fully affected by the epidemic. The new figures of orders and turnover show the huge impact of this demand shock on the textile industry around the world. The uncertainty of the duration of the crisis has brought heavy pressure on the industry.

Companies around the world have stressed that the main challenge now is the lack of current demand and / or worry that future demand will fall sharply and lack liquidity. Companies that produce fibers, yarns, fabrics and end products with health care and protection functions will see new opportunities.