By Apparel Resources
This article was published in Apparel Resources February 5, 2022.
The index of orders intake for Italian textile machinery for the fourth quarter of 2021, compiled by ACIMIT – the association that groups together Italian textile machinery producers – has shown a 43 percent upturn compared to the same period in 2020.
ACIMIT further indicates that, in absolute terms, the index stood at 127.9 points.
This growth is attributed to the rising demand in both domestic and overseas markets. The domestic orders were up 83 per cent in Oct.-Dec. ’21 period on Y-o-Y basis, for an absolute value of 234.6.
On the other hand, overseas orders for Italian textile machinery increased by 36 per cent, for an absolute index value equal to 116.4.
On an annual basis, the index of orders intake increased by 95 per cent for an absolute value of 128 points. The increase, on annual basis in 2021, in orders abroad was 79 per cent, while the growth in domestic orders was 204 per cent, as compared to what was observed in 2020.
Alessandro Zucchi, President of ACIMIT, commented, “We’re experiencing a recovery in the sector that we didn’t quite expect. Production has returned to pre-Covid levels, while foreign demand has been robust in most markets, and in Italy it has benefited from the Government Transition 4.0 incentives.”
However, as per Alessandro, many orders are still pending to be filled and that’s now a cause for concern, given the scarce availability of components and raw materials due to the interruption of supply chains. “Added to this is the sharp rise in the cost of energy,” concluded Alessandro, adding, “ITMA Milan will mark a definitive re-launching of the textile machinery sector, and will confirm Italy’s leadership in the field of textile technologies. This will be a must opportunity for all Italian businesses.”