Between November 20th and December 14th, 2020, The International Textile Manufacturers Federation (ITMF) has conducted its 6th 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, 159 companies from around the world participated.
In comparison to the 5th ITMF Corona-Survey (September 5th – 25th, 2020), the turnover expectations 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 (see Graph 2). 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% (5th survey) to +15% (6th survey), respectively. The turnover expectations for 2024 – compared to the 2019 levels – have not changed (+18% in the 5th and 6th survey).
The latest survey reveals that in the medium- and long-term turnover expectations have not changed significantly. Nevertheless, 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.
