Mumbai: International Textile Manufacturers Federation’s (ITMF) State of Trade Report shows that global fabric production has increased by more than 3% in the third quarter of 2016, driven by surge in Asia and South America markets. However, while Asian and South American output grew by over 4% each, European fabric production fell by nearly 15% quarter-on-quarter.
Year-on-year, global fabric output improved moderately by 0.6% in the third quarter of 2016 with Asian production increasing by 0.6% and South America’s output improving by 4.7%. Europe’s fabric output plunged nearly 7% year-on-year.
The Global yarn production also increased by 3.4% during the third quarter compared to the second quarter, again Asia and South America emerged as growth drivers here, up 2.6%. Europe and North America, however, experienced drops of 13.3% and 1.4%, respectively. The segment also saw a 3.7% increase year on year, led by Asia which was up 3.5% and South America which surprisingly noted 21% drop. Europe was also down by 4% and North America fell by 7.8% in term of yarn production.
In the third quarter, yarn orders fell by 5% in Europe, compared to the second quarter. South American orders tumbled 11% for the quarter but rose 100% year on year.
European fabric orders dropped by nearly 10% quarter in the quarter and 11.5% compared to the previous year while South American orders declined by 3% from the previous quarter but increased by 10% year on year.