World yarn production, according to ITMF, was down 11.3% in the first quarter of 2011 in comparison with the previous quarter. The largest decline was in Asia (-12.2%) followed by Europe (-2.6%) and South America (-0.1%). N orth American output at the same time increased by 5.1%. On year-on-year basis though, yarn production had increased in North America (+10.2%), Asia (+6.6%) and Europe (+1.3%) but fell in South America (-0.6%). Like yarn, fabric production also dropped globally by 11.8%. Output fell in Asia fell 14.3% and in Europe by 2%. Production in North America as well as in South America had increased by 13.3% and 5.9%, respectively; but these increases were inadequate to offset the declines in Asia and Europe. Global yarn stocks increased in the first quarter of 2011 compared with the previous quarter due to higher stocks in South America and Asia. Yarn stocks were slightly lower only in Europe. Year-on-year yarn stocks were up in all regions except Europe where they fell slightly. Global fabric inventories were also up worldwide in the first quarter of 2011 which was a consequence of higher fabric inventories in Asia, while those in South America, North America and Europe were down. On an annual basis, Asia, North America and Europe held higher fabric stocks, but in South America stocks were down. Yarn and fabric orders in Europe were higher in the first quarter of 2011 compared with the previous quarter, while they were down in Brazil. Also in comparison with last year's first quarter yarn and fabric orders increased in Europe but dropped in Brazil.
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