The global textile value chain has a mixed outlook.
Nuanced changes across the global textile value chain are revealed by ITMF’s 29th Global Textile Industry Survey (GTIS), which was carried out in the second half of November 2024 and highlights both resilience and problems. Although business morale has somewhat decreased throughout Since the November 2023 low, long-term gains have continued over the last two months. Together with Africa, South America leads the area in performance with great hope. Gains in South America have also contributed to an improvement in order intake worldwide. The textile machinery sector and Europe saw the lowest order intake. Although there are some differences, inventory levels within the textile value chain are still declining globally, with clothing retaining the lowest levels and Africa reporting the largest stockpiles.
The sector is nonetheless hopeful about future business possibilities despite recent setbacks, driven by respondents’ optimism in South America and Africa. Global demand is still the key issue, according to the report, even though its severity is progressively declining, as emphasis shifts to inflation, rising oil costs, and international worries. It’s interesting to note that the third-highest issue is the shortage of employees and talent. A 14-month trend has been confirmed by the steady drop in order cancellations, and the average order backlog, which is at 2.1 months, shows modest declines but continuous recovery. Please visit www.itmf.org or send an email to secretariat@itmf.org.for further information.