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Global textile business deterioration is expected to improve in the future
Release date: [23:36:27]  Read total [199] times

According to the 16th Global Textile Industry Survey by the International Textile Federation (ITMF), the operating conditions of the global textile industry deteriorated in September 2022. The index of new orders, the index of undelivered orders and the operating rate all declined worldwide. The future expectation is still negative, but there is a trend of improvement.

According to the survey, the textile industry in Asia, while improving, is still relatively the worst. All sectors are now negative, with conditions at spinning mills falling to unprecedented lows. In a positive sign for the future, expectations for the global apparel industry, while still negative and difficult to continue, stopped falling further in September. Expectations improved in South Asia, North and Central America, and Africa, and global spinners improved their expectations for March 2023, which points to a potential easing of the current difficulties.

New orders in the textile industry fell further compared with the August survey, consistent with deteriorating business conditions in the sector. Textile companies in North and Central America, especially South America, saw an increase in new orders, while textile companies in Asia continued to struggle to maintain a very poor order situation. At the same time, the number of unfilled orders fell across all regions, with the exception of South America, where both new and unfilled orders increased. Only dyeing and finishing and knitting/weaving manufacturers saw a small increase in unfilled orders, while all other links saw a decrease. While factory openings fell globally in September 2022, openings rose in South America. The steady decline in drive rates among global fiber producers appears to have reversed for home textile manufacturers.

Weakening demand, high raw material and energy prices, and inflation are among the top challenges facing the global textile industry over the next six months. At the same time, transport costs have fallen sharply, and geopolitical issues have escalated significantly in the last two months.

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