Future export of textile machinery appears gloomy
April 16, 2008 - Italy
The overall output of Italian machinery industry in 2007 increased by 3 percent compared to 2006 as a result of an enlargement of Italian domestic market.
Although exports of the Italian textile machines accounted for 77 percent of the total output, it was nearly similar to the figures of 2006. This was mainly because the quantity of imports from major buyers like China and India did not mark an increase.
China, the largest consumer country for Italian machinery, imported machines worth 360 million European dollars in 2007, registering a fall of 1 percent compared to 2006.
Turkey being the second in line, imported Italian textile machines worth 202 million European dollars while India being the third largest buyer of these goods, imported 135 million European dollar in 2007, down by 26 percent than the previous year.
Experts have gauged a further decline in Italian textile machinery exports in 2008 because being expensive, the importing countries may face difficulty in buying these equipments.