Global textile orders are down by more than 40% on last year as a result of the coronavirus pandemic, new data shows, with the knitting sector experiencing the worst hit.
According to a survey of 600 members of the International Textile Manufacturers Federation (ITMF) between 20 May and 8 June, on a global scale, current orders are down by 42% on average, on a global scale.
On average, companies are expecting their turnover to plummet by 32% this year, the fourth ITMF Corona-Survey shows. The range between regions differs with from -22% in South East Asia to -36% in East Asia.
When looking at the different segments in the textile value chain, all segments — from spinners to garment producers — have recorded significant decreases in orders. Fibre producers have seen orders drop by 42%, while orders for weaver/knitters are down 46%.
Integrated producers and garment producers seem to have fared slightly better, however, with both segments reporting a drop by 37% on average.
Asked when pre-crisis levels are reached again, the majority – 23% – is expecting this to be in the first quarter of 2021, followed by 21% that are expecting this to be the case in the second quarter. Another 14% have expectations this will be in the third quarter, while 20% of companies are expecting a faster recovery in the fourth quarter of 2020.
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By GlobalData
