Significant increase in Italy’s leathergoods exports
16/02/2018
This came despite “continuing problems on the domestic market”, according to Aimpes.
Quoting figures from ISTAT, Italy’s official statistics agency, the report said Italy’s leathergoods exports were worth €6.1 billion during the first 10 months of last year, an increase of 14.1% compared to the same period of 2016.
There was double-digit growth in value for all types of items, with exports of bags up 12.2%, and small leather items up 15%.
The increase in the volume of exports was more limited, with the total weight being recorded as 53.4 million kilogrammes. This represented a year-on-year improvement of 6.4%.
Switzerland was an especially lucrative market for Italian leathergoods companies in 2017, with sales to the country increasing 30% in volume and 34.4% in value.
The US market has rebounded. Following a slowdown at the end of 2016, exports of Italian leathergoods to the country increased 4.4% in value and 3.7% in volume during the first 10 months of last year.
The news was less positive from the French and German markets, however. Exports to France fell 3.4% in volume, although these exports were 7.4% higher in value, thanks to a considerable increase in the average price. Exports to Germany continued to be flat, as was also the case in 2016.
Aimpes described the data related to domestic consumption of leathergoods as “far less comforting”, adding that the long-awaited recovery has once again not materialised.
After a slight increase in household consumption at the end of 2016, the first 11 months of 2017 saw spending fall 0.1%, although the volume of purchases was 1% higher. Aimpes explained that this result was below expectations, and below half-year forecasts.
It attributed the drop in overall spending to a high percentage of purchases being made during sales periods and revealed these purchases now outweigh full-price sales.
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