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Report | September 2017

Global fabric output declines in Q1/2017

Global fabric production declined in Q12016 against Q42016 due to decreases in Asia, South America and in Europe.

The global yarn production improved in Q1/2017 quarter-on-quarter (QoQ). Thereby, output in Asia, North America and South America improved, and it declined slightly in Europe. On an annual basis, the global yarn production in Q12017 increased versus Q1/2016. Global yarn stocks declined in Q1/2017 QoQ with the most significant decline in South America. Also year-on-year (YoY), global yarn stocks fell slightly. QoQ yarn orders in Europe increased, while in South America they decreased. Compared to the same quarter a year ago, yarn orders also decreased in South America and increased in Europe.

Global fabric production declined in Q1/2016 against Q4/2016 due to decreases in Asia, South America and in Europe. Global fabric output improved YoY in Q12017 despite a decrease in Europe. In Q1/2017, worldwide fabric stocks fell QoQ, with the most significant change in South America. YoY, fabric stocks declined. European fabric orders remained fairly stable quarter-on-quarter while they rose in South America. On a yearly basis South America’s fabric orders declined significantly while they slightly increased in Europe.

For Q2/2017, estimates indicate a stable trend in both global yarn and fabric production. For Q3/2017, the global outlook for both yarn production and fabric output signal further rise.

In Q1/2017, global yarn production rose by almost 30 per cent QoQ mainly due to the 31.8 per cent increase in Asia. In North and South America, yarn production increased by 13 per cent and 3.5 per cent, respectively. In Europe, there was a slight decline by 1.2 per cent. Global yarn output increased by 1.9 per cent in Q1/2017 versus Q1/2016. In Asia yarn output improved 2.1 per cent year-on-year while in South America it declined by 4 per cent and rose by 0.6 per cent in North America. In Europe, yarn output increased by 1.6 per cent year-on-year. Global fabric production fell by almost 15 per cent in Q1/2017 against the previous quarter, with the most significant decrease by almost 17 per cent in Asia. YoY, global fabric output improved by 1.9 per cent in Q1/2017. Thereby, Asian production increased by 2.6 per cent and South America’s output improved by 2.2 per cent. Europe’s fabric output fell by 8.7 per cent year-on-year.

Global yarn inventories decreased in Q1/2017 by 6.6 per cent QoQ with decrease of 6.3 per cent in Asia. In South America inventories fell by 10 per cent. In Q1/2017, production of global yarn inventories continued to decrease with the annual percentage change of 1.9 per cent. Thereby, Asian yarn stocks increased by 2.8 per cent YoY. European yarn stocks fell by 9.5 per cent annually and South American stocks diminished by over 41 per cent.

Worldwide fabric stocks fell by 7.8 per cent QoQ in Q1/2017. The major culprit was South America, where stocks were reduced by 34.7 per cent. In Asia fabric stocks increased by 0.6 per cent while in North America they fell by 0.8 per cent. On a yearly basis, global fabric inventories in Q1/2017 decreased by 12 per cent. Asia’s fabric stocks increased by 0.9 per cent annually and South America’s inventories fell by 45 per cent. In Europe fabric inventories rose by 4.7 per cent and ion North America stocks remained unchanged YoY.

In Q1/2017, European yarn orders increased by 7.6 per cent QoQ and in South America they decreased by 3.7 per cent. The annual percentage change of European yarn orders amounted to +1.1 per cent and decreased by 1.1 per cent in South America. European fabric orders in Q1/2017 rose by 0.4 per cent QoQ. South American fabric orders in Q1/2017 increased by 2.1 per cent QoQ. YoY, fabric orders increased by 1.5 per cent in Europe and in South America they fell by 22.4 per cent.

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