The Italian yarn industry is recovering strongly from the global recession, with recent figures pointing to a significant upturn in sales, and several key factors leading to a renewed confidence in the sector.
According to a report by business information company Textiles Intelligence, the production of wool, cotton and linen yarns in Italy rose by over 18% in 2010 after a fall of nearly 18% in 2009. In terms of sales, 2010 marked the beginning of a recovery for Italian yarn manufacturers after several years of steadily decreasing turnover, with exports lifting by 20%. The report added that the majority of Italian spinners believe that these better results will continue into the spring/summer 2012 season.
Between 2002 and 2009 the Italian yarn sector suffered a steady loss of sales which accelerated during the global economic downturn.
The report said: “The Italian spinning industry now believes that it has returned to a state of pre-crisis normality. Admittedly, sales and exports are still well below 2007 levels, and some of the increase in value in 2010 must be accounted for by increased prices. But the data would appear to show that the long-awaited recovery from the effects of the global economic downturn has begun.
The report said that production by the textile and clothing industries in most EU countries recovered in 2010 having fallen at double digit rates in the previous year, and that this was reflected in an increase in exports.
In the first ten months of the year, exports of textiles and clothing grew by 7.9%. Most of the growth was in the textile industry rather than clothing. Textile exports were up by 13.3%, while exports of fibres increased by 20.2%. Production of clothing rose by 4.0%
The report added that the recovery in the West European textile industry has been helped by the move of some knitwear manufacturing back from China to Europe - to Italy in particular, as well as to Turkey and Eastern Europe. “Many buyers are reporting that Chinese knitwear manufacturing is becoming less competitive as a result of higher prices and demands from suppliers for high volume orders,” it said, adding that the recovery in EU textile and clothing production and trade apparent in 2010 is set to continue in 2011 and 2012.
