ITMF: 7th corona survey shows -9% global sales

ITMF: 7th corona survey shows -9% global sales

From January 25-March 10, 2021, the International Textile Manufacturers Federation (ITMF), Zurich/Switzerland, conducted its 7th ITMF Corona-Survey among ITMF members and affiliated companies and associations about the impact the corona pandemic has on the global textile value chain. In total, 196 companies from around the world participated. The 1st ITMF Corona-Survey was conducted in March 2020 when the first lockdowns were announced in Europe.
The 7th survey revealed that actual sales in 2020 were -9% lower compared to 2019 (see graph). While this decrease is significantly better than the expected drop of -33% in the 3rd survey at the height of the first corona wave in April 2020, the year 2020 will go down into history as one of the worst years for the global textile and apparel industry.
In comparison to the expectations expressed in the 6th ITMF Corona-Survey (November 20-December 14, 2020), actual turnover for 2020 compared to 2019 has improved by 3% from -12% to now -9%. As could be expected the entire textile value chain was hit hard by the pandemic including textile machinery producers. Practically all segments under review were impacted negatively to different degrees in 2020.
For further information: www.itmf.org

Source:
dfv media group