Although sales of textiles machinery have fallen in 2013 and in 2014, those gathered at the annual general meeting of the Association of Italian Textile Machinery Manufacturers (ACIMIT) showed optimism.
This optimism, according to an ACIMIT press release, comes from the biggest textile machinery show returning to Italy after 20 years and which will be held in November 2015.
“ITMA 2015, the industry’s most important trade fair provides an opportunity to showcase Italian technology and stimulate new investments from the textile sector in Italy and Europe,” it said.
Italian textile machinery production dropped marginally by 1 per cent in 2014 over 2013 to amount to just over €2.3 billion.
After falling the two previous years, exports in 2014 touched the same value as in 2013 at around €1.95 billion, with exports destined to Asia and Europe making up for 81 per cent of overseas shipments.
However, whereas its exports to European markets grew in 2014 compared to the previous year, they actually fell in Asia.
Exports to China which is one of the main export markets of Italian machinery fell by 25 per cent in 2014 as against the previous year, a result of less than expected robust economic growth.
On the other hand, exports to India, Bangladesh and Vietnam were on the rise, and Italian textile machinery manufacturers also did well in Turkey, the US and Iran.
During the current year, the industry stands to benefit from macro economic factors that are making forecasts lean towards a cautious optimism.
However, ACIMIT expects to receive a boost to exports of textile machinery to China, which is one of its biggest export market and also to Europe.
ACIMIT expects ITMA 2015 to be a driving force capable of energising Italian and European investments in the textile industry.
“Our manufacturers are very confident about the event next November,” ACIMIT’s president Raffaella Carabelli said.
“A total of nearly 430 exhibitors at ITMA are from Italy, covering around 31,000 square meters, up 50 per cent over the Barcelona edition and 30 per cent of total exhibition space at ITMA,” Carabelli noted.
“There’s no doubt that within Italy, the textile machinery industry is one of its most important sectors, due to its strong showing in global markets,” Roberto Luongo, general director of Italian Trade Agency said.
“Our textile technologies are considered of a very high qualitative level, which is an element of great pride and satisfaction for us, which urges us to support Italian businesses,” Luongo observed.
“The ITMA trade fair in Milan represents a unique opportunity for Italy’s textile machinery industry, which is why, a project ‘Special ITMA Milano’ has been set up to help numerous manufacturers maximise individual efforts,” he too added.
