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Italian machine manufacturers cautious about 2012 growth
The Italian textile machine industry saw an increase in production last year, but forecasts remain cautious for 2012, according to ACIMIT (Association of Italian Textile Machinery Manufacturers).
Provisional figures for 2011 highlighted that this sector grew 9% compared with 2010, from €2.4bn to €2.6bn. A similar rise was recorded for exports (+10%), which reached a value of just over €2.1bn.
ACIMIT added that exports remained the driving force behind the sector growth in Italy, with the dynamism of major textile markets combined with Italian machinery manufacturers asserting themselves on a global scale sustaining Italian exports. Twenty-five per cent of the sector’s sales abroad are directed to China, with Asian markets generally accounting for 50% of all foreign sales.
The latest National Institute of Statistics’s data on Italian exports for the first 10 months of 2011 showed significant growth in all markets, whether European (France - 44%, Germany - 56%), non- European (Russia - 88%, Turkey - 83%), American (US - 81%, Brazil - 15%, Peru - 15%) and Asian (Bangladesh - 49%, China - 11%, South Korea - 53%, Japan - 30%, India - 22%, Indonesia - 58%).
However, demand has remained especially weak from the domestic market. In Italy, as throughout the EU in general, current economic uncertainty is hindering a recovery in investments, even in the textile industry.
Sandro Salmoiraghi, president of ACIMIT, said: “Global demand for textile machinery began slowing last summer. The latter months of 2011 and the beginning of this year have confirmed a setback in new orders for many producers. This is a consequence of the current difficult economic conditions.
“The positive outcome of ITMA Barcelona, the industry’s primary trade fair held last September, provided us with some reasons to be optimistic. However, many deals which had been initiated at the trade fair have not yet been finalised, given the state of uncertainty hovering over the future outlook of the markets. Let’s just say 2012 hasn’t started off with the best of prospects. The evolution of the economy over the course of the next quarter will provide a more accurate description of what the future holds for us: whether to expect a recovery or renewed stagnation."
