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European Textile And Garment Industry Is Expected To Drop More Than 50% This Year.

2020/4/24 13:28:00 61

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Textile Garment Industry Production And Marketing And Above

Affected by the global new coronavirus, the European textile and garment manufacturing industry expects sales and production to drop by more than 50% this year, most of which have laid off workers and face financial difficulties.

According to the statistics from the European Union statistics bureau, although the sales and exports of textile and garment industry performed well in 2019, the European textile and garment industry passed the difficult 2019 because of the EU's economic recession and Britain's departure from Europe.

The European clothing and Textile Industry Association (Euratex) said that the data of textiles and clothing industry were in line with the overall situation. The number of employed persons has dropped by more than 2%, and the turnover has been negative for the first time in 2012-2013 years. Compared with 2018, the textile industry dropped by 2% and clothing decreased by 1.3%.

However, a questionnaire survey conducted for Euratex members shows that the confidence index of textiles and clothing industry has dropped sharply in March 2020 because of the new coronavirus, and the impact will only get worse.

According to the preliminary survey results, more than half of the companies expect sales and output to drop by more than 50%. In addition, 90% companies are facing serious financial constraints. 80% companies will be temporarily laid off, while 25% companies are considering closing their businesses.

Euratex said that there is still a negative attitude towards the crisis caused by the new coronavirus and the pressure on the operation of the domestic market. EU countries' border control is very severe, resulting in delays in supply and cancellation of orders, thus exacerbating the economic impact.

The report shows that many textile and garment companies need immediate rescue measures to absorb and solve the crisis under the strong global pressure brought by the epidemic.

Euratex has asked the European Commission to presuppose a financial rescue plan to ensure that the EU member states adopt a consistent approach and avoid restricting the free movement of goods and labour.

DirkVantyghem, the EU's director general, said that the EU and its member states must make every effort to save our industry. At the same time, this crisis provides us with the opportunity to develop new blueprint. The European Commission will propose new industrial strategies that will enable us to rethink the existing business models.