Italian fashion industry’s revenue increases especially by exports

D&G Men's SS2020 show in Italy 

Promising moves

At the meeting, Confindustria Moda announced the industry's annual results, quite stable in 2018 and, thanks to exports, emerged more at the beginning of 2019. Overall, the Italian fashion industry generated revenue. 95.5 billion euros in 2018, an increase of only 0.7% compared to 2017, once again boosted and especially exports. In 2018, Italy fashion exports worth EUR 63.4 billion, equivalent to a 2.7% increase over the previous year. Textile revenue accounts for nearly half of the industry's international business, with a 49.6% stake. They are followed by footwear and leather goods, with the rate of 15.1% and 12.9%, with fine jewelry and costumes with 10.2%, eyeglasses and leather goods (both with 6%) and products fur products (1%). Meanwhile, clothing imports into Italy recorded a significant increase of 3.6%, although they were worth half of the exports, at €35.3 billion in 2018. This fact allowed the whole Italian fashion industry has a trade surplus of 28.1 billion euros (+ 1.5% compared to 2017). A number once again confirms the power of Italy fashion exports, which are only slightly more valuable than mechanical engineering. The trend has been confirmed in the first three months of 2019 when Italy fashion exports were higher than in the same period a year earlier. From January to March 2019, Italian textile/accessories exports increased by 5.6% to € 16.6 billion, while imports amounted to € 9.1 billion (+ 2.3%), create a trade surplus of 7.4 billion euros. These results exceed expectations, considering current geopolitical and international trade tensions, especially tensions between the United States and China. However, this kind of instability may eventually affect exports, and the Italian fashion industry in general, which depends heavily on the international market. Keeping to read Vuhes daily for more other latest news of fashion world.