Italian textile machinery orders drop 4 per cent in Q1 2022: ACIMIT

On the domestic front orders shrank by 22 per cent, whereas abroad the decline was more contained (-2 per cent). The absolute value of the index in Italy was set at 136 points. On foreign markets, the index scored a value of 114.9 points, ACIMIT said in a media release.

ACIMIT president Alessandro Zucchi commented: “The global pandemic and Russian-Ukrainian conflict have accentuated the climate of uncertainty for the whole of the textile industry. Criticalities already present in the past year (such as a sharp rise in prices of raw materials and their scarce availability, as well as increased transport costs) are now accentuated more than ever. While orders appear to have settled on foreign markets, domestically, following a strong recovery in 2021, we now have to deal with a general negativity permeating the Italian economy.”

The ongoing conflict in Ukraine, together with successive pandemic lockdowns in the main market for textile machinery manufacturers, namely China, have undermined the confidence of Italian companies in the sector. “I believe 2022 will be a transition year for the industry, as we await a calming international economic scenario. In the meantime, our association continues to work to strengthen the positioning of Italy’s textile machinery industry worldwide through promotional initiatives in collaboration with ministry of foreign affairs and international cooperation and Italian Trade Agency,” added Zucchi.

The latest of these initiatives was carried out at the end of April, with the opening of an Italian technology training centre for textile machinery in Mongolia, a country that ranks among the world’s leading producers of raw cashmere. “With the training centre starting its operations, our sector is laying the foundations for further business opportunities in an emerging market. I’m certain the initiative will bear a return in terms of image not only for individual Italian companies who are participating by supplying machinery, but on the entire Italian textile machinery sector as a whole,” ACIMIT’s president concluded.

Fibre2Fashion News Desk (KD)