The International Textile Manufacturers Association (ITMF) has conducted a second survey of members and affiliated companies and associations, about the impact the COVID-19 pandemic on the global textile value chain, especially on current orders and expected turnover in 2020. In total 700 companies from around the world participated between March 28 and 6 April 2020.

The results show that companies in all regions of the world suffered significant numbers of cancellations and/or postponements of orders. Globally, current orders dropped 31 per cent on average. The severity of the decrease ranges from 20.0 per cent in East Asia to 41 per cent in South America.

The results show that companies in all regions of the world are expecting their turnovers in 2020 to be significantly lower than in 2019. On average worldwide, turnover in 2020 is expected to be 28 per cent lower than in 2019. While in South Asia the expected turnover will fall by 15 per cent, companies in Africa are expecting a drop of 45 per cent.”

According to the ITMF, companies around the world have highlighted the challenges like lack of current demand and/or fear that future demand will drop significantly and lack of liquidity.