ASSAGO, ITALY (Dec. 19, 11:30 a.m. ET) — Italian plastics and rubber machinery makers expect to produce 4.2 billion euros ($5.5 billion) in equipment this year, with exports of 2.6 billion euros ($3.45 billion), according to the country's machinery association Assocomaplast.
The association examined imports and exports from the first nine months of the year and found that exports increased 9 percentage points, while imports increased 2 percent. Compared to 2010-2011, the balance of trade for the sector increased 11 percent to 1.41 billion euros ($1.5 billion).
Europe is still the top export destination, accounting for 60 percent of the total, which is 11 percent more than in the January-September 2011 period. This market includes Russia, which recorded a 26 percent increase in imports from Italy.
North America is the second biggest export market for Italian machinery producers, with an 18 percent share of the total.
However, exports to India, Brazil, Morocco, Egypt and the Middle East all declined during the first nine months of the year.