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Italian textile machinery sales up 66% in Q1 2021

May 06, 2021
Italian textile machinery sales up 66% in Q1 2021

Milano, Italy

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 business opportunities.

“A future recovery is also threatened by rising prices for raw materials,” stated ACIMIT’s president. “A 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,” he added.

Source: ACIMIT press release

Image Source: ACIMIT

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