Companies see light at the end of the pandemic tunnel

Between January 25th and March 10th, 2021,
ITMF has conducted the 7th 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, 196 companies from around the world
participated. The 1st ITMF Corona-Survey was conducted in March 2020 when the
first lockdowns were announced in Europe.

The 7th survey revealed that actual
turnover in 2020 was -9 per cent lower compared to 2019 (see Graph 1). While
this decrease is significantly better than the expected drop of -33 per cent in
the 3rd survey at the height of the first Corona- wave in April 2020, the year
2020 will go down into history as one of the worst years for the global textile
and apparel industry.

In comparison to the expectations expressed
in the 6th ITMF Corona-Survey (November 20th – December 14th, 2020), actual
turnover for 2020 compared to 2019 has improved by 3 percentage points from -12
to now -9 per cent(Graph 1).

CATEGORIES Industry Update