According to an interview by the International Textile Federation (ITMF), global textile industry orders dropped by 31% from the end of March to the beginning of April.
The above-mentioned interview is an ongoing investigation by ITMF to investigate the impact of COVID-19 on the global textile industry.
The first wave of surveys was conducted on its members from March 13 to 25, with a total of 34 respondents. The results showed that orders from companies in all regions suffered “a large number” of cancellations or postponements, with orders falling by 8% during the period.
The second wave was conducted from March 28 to April 6, with a total of 700 people participating. The results showed that global orders fell by an average of 31%.
“Only 3 weeks ago, some areas were not yet fully affected by COVID-19. But new order volume and turnover statistics show that this time the demand side shock It has a significant impact on the global textile industry. The uncertainty about the duration of the crisis has placed a heavy burden on people.” ITMF declared.
The biggest challenge is a lack of demand and liquidity, it reported.
The second wave of survey results show that the turnover of companies in all regions of the world is expected to be significantly lower in 2020 than in 2019. Judging from the world average, turnover in 2020 is expected to be -28% less than in 2019.
At the same time, 9 organizations from 6 major apparel producing countries formed an alliance to urge global buyers to consider their purchasing patterns during this period and their impact on supply chain workers. Influence.
