Italian textile machinery sales up 66% in Q1 2021
Owing to an increase in the orders from the domestic Italian market and overseas, the Association of Italian Textile Machinery Manufacturers (ACIMIT) has recorded a better performance in the first quarter of 2021.
With an increase in the number of overseas and
domestic orders for textiles, the Association of Italian Textile Machinery
Manufacturers (ACIMIT) has recorded an increase in sales by 66% in the first
quarter of 2021 compared to the same period in 2020.
The value of the index was at 129.3 points
(basis: 2015 = 100). The value of orders from foreign countries has increased
to 68% and the absolute value of the index reached 125.5 points. The domestic
order quantity increased by 54% compared to the first quarter of 2020, and had
an absolute value index of 164.1 points.
According to Alessandro
Zucchi, President, ACIMIT, there was a significant increase in order value when compared to the
first quarter of 2020, when the pandemic had just begun and the textile
industries had completely stopped production.
He added that the numbers looked very encouraging
even though some of the countries such as India which are essential markets for
Italy are still struggling with the pandemic. He also mentioned that the
investments in the textile sector have been patchy though. Without worldwide
vaccination plans, the Italian textile sector is unable to seize global
â€œA future recovery is also threatened by rising
prices for raw materials,â€ stated ACIMITâ€™s president. â€œA significant growth
trend is currently underway, beginning from last summer and continuing to swell
between late 2020 and early 2021. These price hikes are pushing up input costs
and, in the absence of a price adjustment, the negative impacts for machinery
manufacturers could be quite significant,â€ he added.
Source: ACIMIT press release
Image Source: ACIMIT