Home / Knowledge / News / Textiles / Textile machinery sees 51% drop in import orders

Textile machinery sees 51% drop in import orders

20
Oct '08
In less than ten month the German textile machinery industry has experienced a downturn in incoming orders hardly conceivable quite recently. In the period from January to July 2008 altogether 42 percent less orders have been registered than in the same period 2007.

For spinning machinery the drop even totalled 51 percent. Due to this bad order situation, several companies already had to take drastic measures such as staff reductions and short-time work. "Business with textile machinery always has undergone cyclical fluctuations, but what happens actually is the strongest slump since World War II," states Fritz P. Mayer, Chairman of the VDMA Textile Machinery Association and Managing Partner of Karl Mayer Textilmaschinenfabrik GmbH, Obertshausen.

There is no sign at all that the sector will recover soon. The uncertainty on the finance markets on the one hand and the dependence of the textile industry on state subsidies in many parts of the world on the other hand, impede a well-founded prognosis. The VDMA Textile Machinery Association had to correct its sales forecast really dramatically to minus 25 percent.

With an export quota of 95 percent, the German textile machinery industry is one of the highest export-oriented branches within the engineering industry. In 2007, the sector exported machinery and accessories worth 3.8 billion Euros and saw the most successful year of this decade, so the bar was set high. Between January and July 2008, the overall exports declined by 12 percent compared to the same period of the previous year.

This comparatively moderate downturn is mainly due to fulfilment of orders placed the year before. The particularly dramatic drop of exports to important markets such as Turkey (minus 46 percent) and India (minus 23 percent), however, show how missing orders affect production and delivery.

VDMA Textile Machinery Association


Must ReadView All

Pic: Shutterstock

Textiles | On 24th Sep 2020

IDH-Apparel Impact Institute launch Tier 1 Vietnam project

The Netherlands-based IDH-the Sustainable Trade Initiative and the...

Pic: UC SANTA BARBARA

Textiles | On 24th Sep 2020

US scientists assess synthetic fibres pollution on land

Scientists in the US have said that the volume of synthetic...

Pic: Bushell Investment Group

Retail | On 24th Sep 2020

Bushell Investment Group acquires shoe retailer ALDO UK

The Bushell Investment Group (BIG) has acquired the UK arm of the...

Interviews View All

Neel Sawhney, One Friday

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Headhonchos, Indian textile value chain

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Sanjay Yagnik, Maa Tex Speciality

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Awanda Booth,

Awanda Booth

Held every year in New York City, Surtex is a global business-to-business...

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries is into manufacturing of textile process house machines, ...

Prakhar Singh,

Prakhar Singh

Morgan Tecnica offers the largest and most modern range of solutions for...

Mr Ambrose Chan, DSG International (Thailand) PLC

Mr Ambrose Chan
DSG International (Thailand) PLC

Sanjay Raut, Garware Technical Fibres Ltd

Sanjay Raut
Garware Technical Fibres Ltd

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Asif Rahman, MIP

Asif Rahman
MIP

MIP is a manufacturer and distributor of high-performance textiles and...

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Nisha Chanda, Whistling Woods International School of Fashion

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Igor Chapurin, Chapurin

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


September 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search