ACIMIT: The Development Of Global Textile Machinery Industry Will Slow Down
According to the latest report of Italy Textile Machinery Manufacturers Association (ACIMIT) Osservatorio sixth issue of Italy textile machinery manufacturers' economic and financial trends survey, the outlook for the global textile machinery industry shows that the pace of trade development will be very slow.
Paolo Banfi, chairman of the association, said: "there are serious problems in the current economic situation, such as the rising price of raw materials and the slowdown in the pace of development of the world's major economies.
A strong euro is a further obstacle to our industry, which accounts for 80% of our domestic exports.
Italy has a market share of 11% in the global textile machinery market. Last year, its output value reached 2 billion 800 million euros, up 3% from a year earlier.
Similar growth is also reflected in exports. Last year, Italy's textile machinery exports were 2 billion 150 million euros, a slight increase of about 2% over the same period last year.
However, textile care equipment (especially dry cleaning machines) has been growing more vigorously. Last year textile demand for textile equipment increased by 42% over the same period last year, and exports increased by 66%.
Italy's domestic market showed positive signs, and the domestic sales of Italy textile machinery increased by 8% over the same period last year.
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