Authoritative investigation

From November 20 to December 14, 2020, the International Textile Federation conducted the sixth survey on the impact of the new crown epidemic on the global textile value chain for its members and 159 affiliated companies and associations from all over the world.

Compared with the fifth ITF survey (September 5-25, 2020), the turnover of the sixth survey is expected to increase from -16% in 2019 to the current -12%, an increase of 4% .

In 2021 and the next few years, the overall turnover is expected to increase slightly. From the global average level, the turnover is expected to slightly improve from -1% (fifth survey) to +3% (sixth survey) compared with 2019. In addition, for 2022 and 2023, a slight improvement from +9% (fifth survey) to +11% (sixth survey) and from +14% (fifth survey) to +15% (sixth survey) are expected for 2022 and 2023. Six surveys). Compared with 2019 levels, there is no change in revenue expectations for 2024 (+18% in the fifth and sixth surveys).

The latest survey shows that there is not much change in the medium and long-term turnover expectations. Nevertheless, due to a 10% decline in turnover in 2020, the industry is expected to make up for the losses suffered in 2020 by the end of 2022.