The impact of the coronavirus outbreak in China on Turkey’s hosiery exports
The world is on the thorn due to Coronavirus, which has been spreading rapidly since the first reported on December 8, 2019 in Wuhan, China. More than 100 people lost their lives and nearly 5000 people were infected due to the epidemic that spread rapidly and caused quarantine in many cities in China. This figure is seen to increase further.
Coronavirus, which is considered extremely dangerous, on the one hand, threatened human health and started to affect China’s domestic and foreign trade negatively. At the tourism stopping point, travels are canceled, shopping malls are empty, factories are closed. People do not leave their homes, so consumption is interrupted. When we look at the sock industry side of the business, it is inevitable that the country’s socks production and exports will fall significantly due to the fear climate caused by this epidemic in China, the world’s largest socks producer and exporter.
Many international purchasing groups are forced to cancel their travels to China. Orders are also canceled one after another. Because there are concerns about how reliable a product from China will be. This situation inevitably creates an opportunity environment for the Turkish socks industry. It is not a dream to expect serious orders from the US and EU markets to our country in the coming weeks. Perhaps it may cause the Turkish sock industry to face orders of magnitude unprecedented.
The Turkish socks industry does not have the size to meet these possible large orders, but all companies can respond to a significant part of this demand by increasing their capacity to the highest levels.
