Global Textile Orders Fell 31% In Early April
According to the international textile Union (ITMF), the global textile industry orders fell by 31% from the end of March to the beginning of April.
The above visit is a continuing survey conducted by ITMF to investigate the impact of the new crown pneumonia on the global textile industry.
The first wave conducted a survey of its members on March 13-25, with a total of 34 respondents. The results showed that all regional Corporation orders were cancelled or postponed in large quantities, and orders fell by 8% during that period.
The second wave took place from March 28th to April 6th, involving a total of 700 people. The results showed that global orders fell by an average of 31%.
"Only 3 weeks ago, some areas were not completely affected by new crown pneumonia. However, statistics on new orders and turnover indicate that this demand side impact has a major impact on the global textile industry. The uncertainty of crisis duration brings heavy burden to people. ITMF claims.
The biggest challenge, it reports, is the lack of demand and liquidity.
The second wave survey shows that all regional Corporation in the world will be substantially lower in 2020 than in 2019. From the world average level, the turnover in 2020 is expected to be -28% less than that in 2019.
Over the same period, 9 organizations from 6 major garment producing countries formed an alliance to urge global buyers to consider the purchasing pattern and their impact on supply chain workers during this period.
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