Business

Italian Textile Machinery Witness Export Boom In Third Quarter Of 2016

Italian textile machine industry is facing an upward spiral from the export sector as the orders index for textile machinery recorded an increase for the third quarter of 2016. Based on an industry survey conducted by ACIMIT, the Association of Italian Textile Machinery Manufacturers, for the period from July to September 2016 the overall order intake increased by 16% compared to the same period in the previous year. The third quarter value for 2016 stood at 101.1 points (2010 basis = 100).

However, this growth applied to foreign markets only, where the index recorded an absolute value of 112.3 points (+20% compared to July - September 2015). In Italy, the index stood at 48 points, dropping off by 14% over the same quarter in 2015.

ACIMIT President Raffaella Carabelli commented on these figures from Shanghai, where ITMA Asia + CITME, one of the industry’s major trade fairs, has just come to a close. “This data on orders confirms the significant vitality in foreign markets,” states Carabelli. “Here too in Shanghai, we’ve met many entrepreneurs who want to invest; and not just the Chinese.” The trade fair closed with over 100,000 visitors, fully 20% of which hailed from abroad.

On the other hand, the situation in Italy’s domestic market appears to fluctuate somewhat. “The order intake has declined after two consecutive quarters of growth,” observes Carabelli. “We’re still far from an effective recovery for the domestic market. However, we’re confident that the plan put forward by the Italian Government for 2017 fiscal year can give confidence to businesses that need to invest,” he added.