Published by WWD on 4 March 2020

GENEVA — The dramatic reduction in manufacturing output in China in February due to the COVID-19 outbreak resulted in an estimated loss of exports of global value chains worth $50 billion, including more than $1.5 billion in textiles and apparel affected industries, due to shortages in intermediate inputs, a U.N. report said.

"It's clear the global effects are going to be significant, and even if the COVID-19 is retained within China, which it hasn't been, it will still have a continuous impact because of China's impact into the overall value chains of world production," Pamela Coke- Hamilton, director for international trade at the U.N. Conference on Trade and Development, said Wednesday. The most significantly affected region, she said, was the European Union, with $15.6 billion, followed by the U.S. ($5.8 billion) and Japan ($5.2 billion). [...] download full article below

Full Article : Global textile apparel sector hit by virus