The global textile industry has seen current orders drop by 31% between the end of March and early April according to a survey by the International Textile Manufacturers Federation (ITMF).
The ITMF is conducting an ongoing survey into the impact of the coronavirus pandemic on the global textile industry.
The first part was conducted among its members between 13-25 March and comprised 34 respondents. The results showed, on average, companies in all regions suffered “significant” numbers of cancellations and/or postponements, with orders down 8% in the period.
The second part of the survey featured 700 participants and ran from 28 March to 6 April. It showed orders were down 31% on average worldwide.
“Only three weeks ago, some regions were not fully affected by the Corona-pandemic. The new numbers on orders and turnover reveal the dramatic extent this demand shock has on the textile industry around the world. The uncertainty about the duration of the crisis weighs heavily on the industry,” asserted the ITMF.
The biggest challenges are lack of demand and liquidity, it reports.
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By GlobalDataThe results of the second survey also show companies in all regions of the world are expecting their turnovers in 2020 to be significantly lower than in 2019. On world average, the turnover in 2020 is expected to be -28% lower than in 2019.
Meanwhile, nine organisations from six major apparel producing countries have formed a coalition, urging global buyers to consider purchasing practices during this time and their impact on workers in the supply chain.
