Basic HTML Version
The Textile Magazine
fEBRUARY 2012
|
55
donesia +58%). These are all coun-
tries towards which Italian exports
had already experienced strong
growth in 2010 as well.
On the other hand, demand has re-
mained especially weak from the do-
mestic market. In Italy, as through-
out the European Union in general,
current economic uncertainty is hin-
dering a recovery in investments,
even in the textile industry.
In spite of the growth experienced
in 2011, Italian machinery manufac-
turers remain extremely cautious for
the current year. “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 or-
ders for many producers. This is a
consequence of the current difficult
economic condition,” says Sandro
Salmoiraghi, ACIMIT President.
“The positive outcome of ITMA
Barcelona, the industry’s primary
trade fair held last September, pro-
vided 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 hov-
ering over the future outlook of the
markets. Let’s just say 2012 hasn’t
started off with the best of pros-
pects. The evolution of the economy
over the course of the next quarter
will provide a more accurate indica-
tion of what the future holds for us,
whether to expect a recovery or re-
newed stagnation”, he adds.
According to Salmoiraghi, the
economic slowdown has also affect-
ed and currently affects developing
countries as well, including their
textile sector. 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.
In hard times such as these, in-
stitutions must be as supportive as
ever. “Roughly 80% of production
in our sector is directed at foreign
markets,” attests Salmoiraghi. “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 in-
ternational competition.”
Salmoiraghi’s appraisal for the re-
construction of the ICE, the Italian
institute for foreign trade, is accom-
panied by the hope that the agency
will rapidly return to full-scale op-
erations.
He concludes: “The ICE is an es-
sential element in a mosaic that must
be completed with a greater level of
support from the banking system,
which many Italian SMEs have
called upon to ease access to credit
during these difficult times.”
w
Italian textile machinery exports to India (million Euro)
Italian textile machinery exports to India by categories
(Jan-oct-2011)
industry update