Despite an increase in production rates for 2011, the forecast for Italian textile machinery manufacturers remains cautious for the rest of 2012, with many still waiting for verbal orders received at ITMA to be officially finalised.
Provisional overall figures from industry body ACIMIT for 2011 show a further increase in manufacturing production and exports, following a good recovery in 2010; and this after a 2009 during which machinery manufacturers were hit hard by the recession.
The value of Italian textile machinery production for 2011 registered a 9% increase compared to 2010, from ?.4 to ?.6 billion. A similar increase was recorded for exports (+10%), which reached a value of just over ?.1 billion.
According to ACIMIT, exports remain the driving force behind the sector growth in Italy. “The dynamism of major textile markets combined with the ability of Italian machinery manufacturers to assert themselves on a global scale, has contributed to sustaining Italian exports,” the organisation said in a statement.
In terms of regions, 25% of the sector’s overseas sales are in China, with Asian markets generally accounting for 50% of all foreign sales. The latest National Institute of Statistic data on Italian exports for the first 10 months of 2011 show significant growth in all markets, including European (France +44%, Germany +56%); non- European (Russia +88%, Turkey +83%); American (United States +81%, Brazil +15%, Peru +15%); and Asian (Bangladesh +49%, China +11%, South Korea +53%, Japan+30%, India +22%, Indonesia +58%).
“These are all countries towards which Italian exports had already experienced strong growth in 2010 as well,” ACIMIT said. “On the other hand, demand has remained especially weak from the domestic market. In Italy, as throughout the European Union in general, current economic uncertainty is hindering a recovery in investments, even in the textile industry. In spite of the growth experienced in 2011, Italian machinery manufacturers remain extremely cautious for the current year.”
Sandro Salmoiraghi, president of ACIMIT pointed out that the 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,” he said. “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 finalized, given the state of uncertainty hovering over the future outlook of the markets.”
He continued: “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.
Salmoiraghi also pointed out that the economic slowdown had also affected, and currently affects, developing countries as well, including their textile sectors. The drop in consumer spending in developed markets has penalized major garment exporting countries - above all China.
“In 2012 it will be difficult to find markets capable of significantly increasing their installed production capacity,” predicted Salmoiraghi. “In hard times such as these, institutions must be as supportive as ever. Roughly 80% of production in our sector is directed at foreign markets. This high propensity towards exports, combined with the comparatively small size of our manufacturers, means that they absolutely must be supported in order to face up to international competition.”
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