In the ITMF's 12th COVID-19 survey, about 48% of companies said their current business was satisfactory, indicating a strong recovery in business across all divisions.
Textile value chain will remain optimistic
Companies in all regions and divisions reported favorable conditions, with business growth of approximately 3 percent. GVCS are expected to remain positive over the next six months, with only 14 per cent of companies expecting a decline in business by July 2022.
Downstream growth is matched by upstream growth
Business is expected to remain positive in all regions except East Asia and Africa. The downstream sector, which includes knitting/weaving, dyeing and finishing and garment production, is expected to be in line with the upstream sector, which includes cotton production, spinning mills and textile machinery producers.
Order intake remained constant
Orders are unlikely to change over the next six months. Since November 2021, order intake has declined from a high of 40 percent in November 2021 to 30 percent in January 2022. Since May 2021, order backlogs have hovered between 2.4 and 2.9 months, and capacity utilization has grown slowly. This shows the extent of the supply chain disruption facing the industry.
Promote industrial development
The ITMF's 12th COVID-19 survey was conducted by the Federation of Textile Manufacturers of India (ITMF) in the second half of January 2022. The survey surveyed about 270 companies in the global textile value chain. For the first time since May 2021, companies are being asked to assess their current business situation, their expectations for the future, current order status, order backlog, and capacity utilization.
Despite the decline in textile business caused by the Omicron strain, my company is able to offer excellent price nylon zippers, resin zippers, ribbons and crochet sets.
Post time: Feb-28-2022