ZURICH, Switzerland — October 2, 2020 — Between September 5 and 25, 2020, ITMF has conducted its 5th 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, 216 companies from around the world participated. They report that the Corona-pandemic led to a significant reduction of production capacities. Twenty-three percent of the respondents reduced production by more than 30 percent and another nineteen percent of respondents by 20-30 percent. On the other side of the spectrum — and unsurprisingly — only 9 percent of companies have increased their production capacity during the pandemic. Twenty-one percent did not make any change (See Graph 1).
Furthermore, twenty-one percent of all surveyed companies are expecting turnover to be back to pre-crisis level in 2020. Eleven percent of companies think it is more likely to happen in the 1st quarter of 2021, 15 percent in the 2nd quarter of 2021, and 17 percent in the third quarter of 2021. It is important to note that 25 percent of all companies are expecting turnover to reach pre-crisis levels in 2022 and 2023 (See Graph 2).
Posted October 6, 2020
Source: ITMF