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The Rupp Report: More Yarns, But Fewer Fabrics In 2007

If one compares the actual world textile market situation, it’s quite amazing to see what happened in 2007 with global yarn and fabric formation. Based on a recent trade report by the Switzerland-based International Textile Manufacturers Federation (ITMF), global yarn production rose, but fewer fabrics were produced.

High Output Levels In Asia And South America

Once again, global yarn production rose in the fourth quarter (Q4) of 2007 as a result of higher output levels in Asia and South America, while Europe and North America recorded lower levels. Fabric production, on the other hand, was down in all regions with the surprising exception of Europe. Yarn inventories increased in all regions, whereas fabric stocks were up only in Asia but down in all other regions of the world. Yarn and fabric orders in Europe were lower, while Brazil recorded higher yarn but lower fabric orders.

Yarn Production
Global yarn production increased in Q4 by 2.7 percent as a consequence of higher production levels in Asia of 3.7 percent and South America of 8.1 percent, despite significant lower output in Europe, falling 10.1 percent, and in North America, falling 9.1 percent. Compared to Q4 2006, global yarn output was up by 9.2 percent owing to the fact that output jumped 11.7 percent in Asia, whereas all other regions recorded lower output levels, with Europe down by 11.9 percent, South America down by 8.0 percent and North America down by 5.1 percent.

Fabric Production
From a record high, fabric production fell on a global scale by 4.3 percent, with all regions contributing to this decline except Europe, which increased 1.8 percent. Fabric production in North America, Asia and South America fell by 16.5 percent, 4.9 percent and 0.2 percent respectively. On an annual basis, world fabric output was up by 5.9 percent, resulting from higher levels in Asia, increasing 8.6 percent, and South America, increasing 0.8 percent, more than offsetting the drop of 12.3 percent in North America, and the significant reduction of 6.0 percent in Europe.

Yarn Stocks
Global yarn stocks reached the highest level in the past three years and were up 3.4 percent in Q4 of 2007; all regions contributed to this increase. Yarn inventories jumped heavily in South America by 31.5 percent, and rose slightly in Europe, by 3.4 percent, and Asia, by 2.4 percent. Year-on-year global yarn stocks were higher as well, increasing 3.6 percent. While Europe, up 14.1 percent, and Asia, up 5.7 percent, reported higher inventories, on the other side, South America decreased by 19.0 percent.

Fabric Inventories
Also, global fabric inventories rose slightly in Q4 by 1.3 percent compared to the previous quarter as a result of 3.5-percent higher inventories in Asia. On the other hand, fabric stocks in Europe, and South and North America dropped — Europe by 5.5 percent, South America by 1.6 percent and North America by 0.9 percent. Compared with Q4 in the previous year, fabric stocks worldwide dropped by 28.3 percent. With a drop of 35.3 percent, Asia experienced the strongest decline, followed by Europe and North America, down 7.1 percent each; and South America down 4.3 percent.

In Q4, yarn and fabric orders in Europe decreased by 2.8 percent and 2.0 percent, respectively. On an annual basis, these orders fell by 6.7 percent and 2.7 percent, respectively. In Brazil, the picture was slightly different, with yarn orders up by 8.3 percent compared with Q3 and up by 2.3 percent year-on-year. Fabric orders, on the other hand, were down both compared to Q3 2007and to the Q4 2006 by 15.6 percent and 8.4 percent, respectively.

Source: ITMF

July 29, 2008