According to a survey by the International Textile Manufacturers Federation (ITMF) and ITMF’s Global Textile Industry Survey (GTIS), Expectations in six months’ time have soared and respondents are globally positive about business in June 2023. Textile manufacturers expect a better situation due to two important factors.
First, the world is now in a much better energy situation with a relative mild winter in Europe and energy prices in Europe and Asia (especially for gas) dropping back to levels seen before Russia’s invasion of Ukraine.
Second, the sudden end of the Zero-COVID policy in China with a swift opening of the borders is promising to strengthen demand in China as well as abroad (more tourists and imports of goods). Everything else being equal, the global economy will see a higher growth level than expected and this will benefit the global textile industry.
In the other hand, Erenhot, the biggest land port on the China-Mongolia border, links more than 60 overseas destinations across over 10 countries via 64 China-Europe freight-train routes, handled export and import cargo volume of more than 1.42 million tonnes—a 90 per cent year-on-year (YoY) rise, as per the data from the China Railway Hohhot Group.
Posted on 08/02/2023
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