Covid-19 impact: Current orders down by 40%
On average, companies are expecting their turnover to plummet by -32 per cent. The range between regions differs with from -22 per cent in South East Asia to -36 per cent in East Asia.
Between May 20 and June 8, 2020, ITMF has conducted its fourth 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 per cent. When looking at expected turnover in 2020 compared to 2019, the expectations remained unchanged since the third ITMF Corona Survey. On average, companies are expecting their turnover to plummet by -32 per cent. The range between regions differs with from -22 per cent in South East Asia to -36 per cent in East Asia.
When looking at the different segments in the textile value chain, all segments â€“ from spinners to garment producers â€“ recorded significant decreases in orders. Also, integrated producers seem to have fared slightly better with -26 per cent, while the other segments expect turnover in 2020 to be falling in the range of -31 per cent to -34 per cent.
Asked when pre-crisis levels are reached again, the majority (23 per cent) is expecting this to be in the first quarter of 2021, followed by 21 per cent that are expecting this to be the case in the second quarter of 2021. Another 14 per cent have the expectations that this will be the case in the third quarter of 2021. Nevertheless, 20 per cent of companies are expecting a faster recovery in the fourth quarter 2020.
Read full story in ITJ July 2020 edition