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The Italian footwear industry experienced an expected slowdown as declines in exports and production were observed, accompanied by a drop in household spending. The president of Assocalzaturifici, noted that this slowdown follows a strong recovery in 2021 and a continued recovery in 2022.
According to data provided to Asocalzaturifici by the Confindustria Moda Research Center, in the first five months of 2023, the Italian footwear industry increased sales by 7.4% and exports by 10.2% year-on-year. However, export volumes fell by 6.8% and production by 5.7% during this period. Household spending remained relatively stable in the first half of the year, but eventually fell in May and June.
On the export side, Italy shipped 6.4 million pairs of shoes between January and May 2023 compared to the same period in 2022, down 6.8% in volume. However, the average price per pair increased by 18.2% and total exports rose by 10.2%.
Rising raw material and energy costs have affected companies' profit margins. Italian footwear imports exceed exports, but high export prices result in a significant trade surplus.
It follows that, the Italian footwear industry faces a slowdown in 2023 after a period of recovery, influenced by various factors affecting exports, production and household consumption.
The Italian footwear industry experienced an expected slowdown as declines in exports and production were observed, accompanied by a drop in household spending. The president of Assocalzaturifici, noted that this slowdown follows a strong recovery in 2021 and a continued recovery in 2022.
According to data provided to Asocalzaturifici by the Confindustria Moda Research Center, in the first five months of 2023, the Italian footwear industry increased sales by 7.4% and exports by 10.2% year-on-year. However, export volumes fell by 6.8% and production by 5.7% during this period. Household spending remained relatively stable in the first half of the year, but eventually fell in May and June.
On the export side, Italy shipped 6.4 million pairs of shoes between January and May 2023 compared to the same period in 2022, down 6.8% in volume. However, the average price per pair increased by 18.2% and total exports rose by 10.2%.
Rising raw material and energy costs have affected companies' profit margins. Italian footwear imports exceed exports, but high export prices result in a significant trade surplus.
It follows that, the Italian footwear industry faces a slowdown in 2023 after a period of recovery, influenced by various factors affecting exports, production and household consumption.
Sources: https://www.worldfootwear.com/news/italian-footwear-industry-decelerates/9159.html - Photo: Freepik
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