Sixth ITMF Corona Survey shows improved turnover expectations
Posted December 22, 2020
ZURICH – Between November 20th and December 14th, the International Textile Manufacturers Federation (ITMF) conducted its sixth ITMF Corona Survey among ITMF members and affiliated companies and associations about the impact the COVID-19 pandemic has on the global textile value chain.
In total, 159 companies from around the world participated.
In comparison to the fifth ITMF Corona Survey (September 5th–25th), the turnover expectations have improved in the sixth survey by 4 percentage points, from -16% to now -12% compared to 2019 (Graph 1).
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% (fifth survey) to +3% (sixth survey) compared to 2019.
Also, for 2022 and 2023 the outlook has improved slightly from +9% (fifth survey) to +11% (sixth survey) and from +14% (fifth survey) to +15% (sixth survey), respectively. The turnover expectations for 2024 – compared to the 2019 levels – have not changed (+18% in the fifth and sixth 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.
Additional and more detailed information about the sixth ITMF Corona Survey is be published in the current edition of the ITMF Newsletter.