Italian footwear exports up 13,9% in the first 9 months of 2022

In the first nine months of 2022, the turnover of Italian shoe manufacturers increased by 13,9% compared to the same period last year. But the positive news concerns mainly large manufacturers, writes Worldfootwear.com, citing information from the Assocalzaturifici Association of Italian Footwear Manufacturers.

“Despite double-digit growth in sector turnover in 2022 with a return to pre-pandemic levels forecast and positive signs in most variables, the surge in costs is undermining the margins of companies forced to face, in addition to rising commodity prices, unprecedented increases in energy costs. There is also considerable heterogeneity among the companies: 2 out of 5 still have a turnover below the pre-crisis level,” commented Giovanna Ceolini, president of Assocalzaturifici.

The President of the Italian Association of Footwear Manufacturers stressed that since the beginning of the year, 180 manufacturers have closed their business, and the level of employment confirms the recovery of the industry, already recorded in the first two quarters (growth by 2,3%); however, this recovery is not enough "to cover the losses incurred in the previous two years".

World Footwear 2022 highlights that the situation in the Italian footwear industry began to improve in 2021 after the downturn caused by the COVID-19 pandemic, but the positive developments so far are seen mainly in large international groups. Many small and medium enterprises are still struggling or struggling.

According to the Confindustria Moda Research Center, in the first nine months of last year, thanks to luxury brands, Italian footwear exports increased by 23,7% in value terms, reaching 9,35 billion euros, and by 11,7% in physical terms. , "the best result from 2017 to date", on a comparable basis to the same period in 2021. At the same time, sales volumes recorded during this period exceeded the pre-pandemic level by 20,4% in value and 3,9% in physical terms.

Advertising

Advertising of Business Global Expo LLC, Taxpayer Identification Number (INN) 7710961530, erid: 2W5zFJRB7Va

In the first nine months of the year, exports to Germany, one of the main countries importing Italian shoes, grew by 26% compared to last year, to Spain - by 23%, to the Netherlands - by 36%, to Belgium - by 19%, "all they are already well above pre-Covid levels.” The data also points to a return of Italian footwear to the UK, with exports up 23% in value and 1,6% in volume, even if "current figures remain markedly lower than in 2019".

Outside of Europe, Italian footwear exports to the US and China have been on the rise. From January to September 2022, exports to the US increased by 61% in value and 28% in pairs, compared to the same period of the previous year. In China, after slowing down between April and May due to COVID-19 restrictions, export volumes picked up in June, with an 86% increase in value in the third quarter, mainly driven by luxury sales. In general, in the first nine months of last year, Italian footwear exports to China grew by 43% in value and by 7% in physical terms.

Also, Italy increased the volume of footwear exports to South Korea (growth - 22,5% in value terms), Japan recorded a growth of 25,5%, and exports to the United Arab Emirates increased by 68% in value year-on-year.