What is the impact of the corona pandemic on the global textile value chain? Between November 20 and December 14, 2020, the International Textile Manufacturers Federation (ITMF), Zurich/Switzerland, conducted its 6th ITMF Corona-Survey. In total, 159 companies, ITMF members and affiliated companies and associations, from around the world participated.
In comparison to the 5th ITMF Corona-Survey (September 5-25, 2020), the turnover expectations for 2020 have improved in the 6th survey by 4 percentage points from -16% to now -12% compared to 2019.
For 2021 and the following years, turnover expectations have overall improved slightly. On average, the companies are expecting a small improvement from -1% (5th survey) to +3% (6th survey) compared to 2019. Also, for 2022 and 2023 the outlook has improved slightly from +9% (5th survey) to +11% (6th survey) and from +14% to +15%, respectively. The turnover expectations for 2024 – compared to the 2019 levels – have not changed (+18% in the 5th and 6th survey).
Due to the reduced turnover drop of -10% in 2020, the industry is expecting to recover the losses incurred in 2020 by the end of 2022.