Interviews
Italy cotton annual 2006 report
10 Jun '06
2 min read
United States Department of Agriculture (USDA) Foreign Agricultural Service (FAS) announces Italy Cotton and Products Annual 2006:
Report Highlights: Weak domestic economic growth, low export performance and increased competition from low cost textile suppliers are leading Italian companies to import finished textiles directly from the Far East, slowly shrinking the Italian spinning sector.
Italian Economy in General
GDP growth in Italy has been anemic for the last three years, with an average annual growth rate of just 0.6 percent. The Italian manufacturing sector has had negative growth in six of the last eight quarters. As reported in the PSD table for cotton imports, exports and domestic use are all down.
Competitive and efficient textile producers in China and India and Eastern Europe are increasingly able to meet Italian manufactures' traditional quality and Italian textile producers are feeling the pinch. This is reducing Italian demand for U.S. cotton.
Italian Textile and Apparel Industry – Overview
Italy is one of the few European nations to maintain a spinning industry. The overall textile and clothing sector involves more than 67,000 small to medium-sized companies that contribute roughly 12,3 percent of the manufacturing sector's added value.
These companies include world leaders in the fashion industry that offer original and trend-setting products, which forces them to seek out cutting edge textile and spinning technologies and products.
Report Highlights: Weak domestic economic growth, low export performance and increased competition from low cost textile suppliers are leading Italian companies to import finished textiles directly from the Far East, slowly shrinking the Italian spinning sector.
Italian Economy in General
GDP growth in Italy has been anemic for the last three years, with an average annual growth rate of just 0.6 percent. The Italian manufacturing sector has had negative growth in six of the last eight quarters. As reported in the PSD table for cotton imports, exports and domestic use are all down.
Competitive and efficient textile producers in China and India and Eastern Europe are increasingly able to meet Italian manufactures' traditional quality and Italian textile producers are feeling the pinch. This is reducing Italian demand for U.S. cotton.
Italian Textile and Apparel Industry – Overview
Italy is one of the few European nations to maintain a spinning industry. The overall textile and clothing sector involves more than 67,000 small to medium-sized companies that contribute roughly 12,3 percent of the manufacturing sector's added value.
These companies include world leaders in the fashion industry that offer original and trend-setting products, which forces them to seek out cutting edge textile and spinning technologies and products.
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