Turnover to be down solely -16 per cent with COVID: ITMF

2020/10 01 16:10


The turnover of textile firms is anticipated to scale back by solely -16 per cent by the center of September 2020, in response to the fifth ITMF (Worldwide Textile Producers Federation) Corona-Survey. The survey was performed amongst ITMF members and affiliated firms and associations in regards to the influence of COVID-19 on the worldwide textile worth chain.

In whole, 216 firms from world wide participated within the survey. When requested in regards to the anticipated turnover in 2020 in comparison with 2019 because the starting of the Corona-pandemic, the businesses’ expectations have considerably improved since 4th survey. Whereas to start with of June firms have been anticipating a drop in turnover of round -32 per cent, the anticipated discount fell to -16 per cent by the center of September, in response to the ITMF report.

Within the fifth ITMF Corona-Survey, ITMF has requested for the primary time about the turnover expectations for the interval past 2020 till the 12 months 2024. On a world common, the expectations are that in 2020 turnover shall be down by -16 per cent in comparison with 2019. For 2021, the worldwide textile trade is anticipating stagnation (-1 per cent). Within the following years, firms expect to see larger turnovers in comparison with 2019. In 2022 they’re anticipating a turnover stage of +9 per cent, in 2023 of +14 per cent, and in 2024 of +18 per cent in comparison with the bottom 12 months 2019. With different phrases, expectations are that it’ll tackle common till 2024 to totally get better the losses suffered in 2020.

Fibre2Fashion Information Desk (GK)

The turnover of textile firms is anticipated to scale back by solely -16 per cent by the center of September 2020, in response to the fifth ITMF (Worldwide Textile Producers Federation) Corona-Survey. The survey was performed amongst ITMF members and affiliated firms and associations in regards to the influence of COVID-19 on the worldwide textile worth chain.




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