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Italian yarn sector in for recovery Italy |
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2004-7-9
The Italian yarn sector was starting to rebound, but will not show ‘decisive’ indications of improvement before 2005, figures from Milan-based textiles association Sistema Moda Italia (SMI) revealed in the run-up to Italian yarn, fibre and knitted fabric event Pitti Filati, which ends on 9 July 2004.According to its statement, "Even if the current positive feeds through into the second half of the year, this will have only a limited impact and show in production in the summer, which is less important than the winter." The numbers for first three months of 2004 showed a 7.2 percent drop in total exports. While sales of woollen yarns increased by 9.3 percent to €36.2 million and by 5.9 percent to €27.5 million for acrylic yarns. Combed woollen yarns and mixed synthetic and woollen yarns suffered declines of 14.9 percent to €73.5 million and 23.9 percent to €23.9 million respectively.Imports rose by 6.6 percent, but continue to account for merely 13 percent of Italian yarn consumption. The sector''s trade surplus was €82.6 million, down by €20 million as compared to the same period of last year. In 2003, total yarn exports fell 8.2 percent to €826 million while imports rose 6.2 percent to €294 million. The association informed that sector will have to wait until 2005 to see if the negative trend of the last five seasons had reversed.
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