Garment industry in difficulties
02.01.2021 01:00 Economy
The situation of the West German markets will continue to be determined by the COVID-19 effects. However, the analysis of our HHM representative Markus Heinen shows, that there are again industry-specific differences.
The sectors of consumer goods and wood transports are still strong, whereas the textile industry is facing serious difficulties. Overall, the path to recovery was continued. The decline of the first half of 2020 was made up for in many places. This often resulted in volumes that exceeded expectations, even if still lagging behind the values from 2019. Accordingly, many market participants got through the pandemic reasonably well. A different mindset can be observed, when looking at a possible lock down extension. If that is to be the case, a strong slump is feared to be the result. Currently, all liner service connections to Hamburg are operating according to the regular schedule. However, a few reduced frequencies can be observed. Currently the sea-going vessels are delayed, and therefore the imports too. On the export side, there is a shortage of equipment. This further prevents a recovery.