Constrained by a slowdown in global economies and growing trade uncertainties, the International Monetary Fund revised its economic outlook

Constrained by a slowdown in global economies and growing trade uncertainties, the International Monetary Fund revised its economic outlook in July 2018 from 3.9 per cent to just 2.9 per cent in January 2020. As per Textile Network, the IMF report cites weakening of large emerging markets and geopolitical tensions as some of the reasons for this deceleration in machinery investments and household consumption.

Spunlaid nonwoven dominate global fiber supply

Adverse business conditions affected the textile value chain as global fiber supply was mostly dominated by spunlaid nonwovens. The total supply of these nonwovens accounted for 120 million tons, while the cultivation of natural fibers decreased by 3 per cent to 32 million tons. Cotton output declined to 26 million tons and wool output fell by 1 per cent. The supply of other natural fibers remained stable.