ITMF: Global Textile Orders Have Decreased By 8% At The End Of March.
In from March 13th to 25th 020, the International Federation of textile manufacturers ITMF conducted a survey of its members to investigate the impact of the new crown epidemic on the global textile value chain, especially the impact on the current orders and the expected turnover in 2020. 34 companies from around the world took part in the survey.
The survey shows that orders have been reduced by 8% worldwide.
The results show that the average number of Companies in all regions of the world has been cancelled and / or postponed. From the world average, the current orders fell by 8%. Orders fell from 4% in South America to 13.3% in Africa.
The results show that the average turnover of Companies in all regions in 2020 is expected to be significantly lower than that in 2019. On the world average, the turnover in 2020 is expected to be 10.5% lower than that in 2019. In North America, the average decline is expected to be 7.5%, while European companies are expected to fall by 17.5%.
China Cotton Association believes that after entering April, the international epidemic situation accelerated and deteriorated. The major consumer markets in Europe and the United States were particularly serious. It is expected that textile terminal orders will not improve in April, and cotton textile enterprises should arrange production and marketing reasonably.
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