Italy：Textile machinery industry exports 77% of production
Source: ACIMIT Date: 2008-04-09
In 2007 the Italian textile machinery industry saw its production increase by 3% compared to the previous year, thanks above all to growth in domestic market.
The value of this economic surge translates into just under 2.8 billion Euros. The export market held on well with respect to 2006, in spite of an overall performance that fell short in some of the major foreign markets (China and India).
The percentage of exports on Italian production of textile machinery remains significant (77%). Forecasts for the current year are being hurt somewhat by the value of the Euro, which remains strong in international money markets, and represents a primary cause for concern among Italian machinery manufacturers for 2008.
This overall positive result for 2007 derives primarily from a recovery in the domestic market, where deliveries by Italian machinery manufacturers surged by 8% on an annual basis.
The resurgence in investments on the part of Italy’s textile sector has also been confirmed by import trends, whose value for 2007 exceeded 630 million Euros, with an increase of 10% over 2006.
Abroad, the primary markets for Italian manufacturers remain China, where total sales of machinery reached 360 million Euros, followed by Turkey (202 million Euros), and India (135 million Euros).
Only the Turkish market, however, registered an increase in exports (+14%). As for China, Italian exports remained stationary compared to 2006 (-1%), while India exhibited a heavy drop in overall volumes for Italian machinery (-26%).
In any case, 2007 was also marked by a recovery for some of Europe’s major export markets (Germany, France and Switzerland), and positive growth figures in other traditional markets for Italy’s textile machinery industry, such as Brazil and Iran.
The greatest source of concern for Italian machinery manufacturers regards the Euro’s appreciation against the US dollar. “Italy’s dependence on exports in the sector,” explains Paulo Banfi, “has penalized almost all of our machinery manufacturers, who are committed to foreign markets for a large part of their overall production.
At the Euro’s current levels, it will be difficult to remain competitive for very much longer internationally, despite the fact that the quality of our Made in Italy products remains undisputed and is highly regarded by all our customers.
What’s needed then,” concludes ACIMIT’s President, “is a clear commitment by monetary authorities in support of the demands of many European manufacturers, implementing the necessary course of action for slowing the rise of Europe’s currency.”
