Expectations for the next six months have increased, and respondents are optimistic about international business in June 2023. Two crucial elements will improve the situation, according to textile makers.
“First, the globe is currently in a much better energy condition with a very mild winter in Europe and energy costs in Europe and Asia (particularly for gas) plummeting to levels observed before Russia invaded Ukraine,” the ITMF Survey said.
Second, the abrupt conclusion of China’s Zero-Covid policy and the quick opening of the borders indicate that demand will increase domestically and internationally (more tourists and imported goods). With all else being equal, the global economy will develop faster than anticipated, benefiting the textile sector worldwide.
