2nd survey about the impact of the corona virus on the global textile industry
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 world average, the turnover in 2020 is expected to be -28 % lower than in 2019. While in South Asia the expected turnover will fall by -15 %, companies in Africa are expecting a drop of -45 %. Furthermore, the ITMF Corona-Survey revealed that the companies are struggling with many issues. The 2 most important and pressing issues are to keep the workforce safe, and to have enough liquidity to cover all the running expenses.