The International Textile Manufacturers Federation (ITMF) has announced that in comparison to the 5th ITMF Corona-survey, the turnover expectations have improved in the 6th survey by 4 percentage points from -16 per cent to now -12 per cent compared to year 2019. The 6th ITMF Corona-survey was conducted between November 20 and December 14, 2020.
The International Textile Manufacturers Federation (ITMF) has announced that in comparison to the 5th ITMF Corona-survey, the turnover expectations have improved in the 6th survey by 4 percentage points from -16 per cent to now -12 per cent compared to year 2019. The 6th ITMF Corona-survey was conducted between November 20 and December 14, 2020.#
The survey was conducted amongst ITMF members and affiliated companies and associations about the impact Corona-pandemic has on the global textile value chain. In total, 159 companies from around the world participated.
For 2021 and the following years, turnover expectations have overall improved slightly. On average, the companies are expecting a small improvement from -1 per cent (5th survey) to +3 per cent (6th survey) compared to 2019. Also, for 2022 and 2023 the outlook has improved slightly from +9 per cent (5th survey) to +11 per cent (6th survey) and from +14 per cent (5th survey) to +15 per cent (6th survey), respectively. The turnover expectations for 2024 compared to the 2019 levels have not changed.
The latest survey reveals that in the medium and long-term turnover expectations have not changed significantly. Nevertheless, due to the reduced turnover drop of -10 per cent in 2020, the industry is expecting to recover the losses incurred in 2020 by the end of 2022.
Fibre2Fashion News Desk (JL)
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