In 2001 world exports in the textile machinery sector to tailed almost US$14,300m, 2.6% down on 2000. The period from 1995 to 2001 as a whole was characterised by a downward trend in trade in international textile machinery. In 1995 the value of the trade had in fact topped $19,500m. On average over the period the market shrank by 5% annually, mainly as a result of two factors: excess production capacity and the fact that markets downstream from textile machinery were near the bottom of their economic cycle. Overproduction has become a feature of the textile sector in recent decades. Over the last 50 years, productivity increase due to advance in machine technology have caused the sector's offer to exceed demand on a regular basis, leading to an excess of production capacity throughout the textile and clothing sector. Since 1950 the productivity of spinning machinery has increased by an average of 3.3% yearly. In contrast it is estimated that in 2010 average growth in yarn production will be only about 2%. Thus over the medium term future textile machine produc- tivity will continue to outpace growth in requirements.
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