What’s the trend of Made in Italy fashion in the last two years? Export returns to the pre-covid levels of the end of 2019, revenues almost the same.
The fashion industry (which includes textiles, clothing, leather, footwear and leather goods) together with fashion related sectors (jewelery, eyewear, cosmetics, costume jewelery) followed the general national recovery phase, recording a rebound in revenues compared to the same months in 2020 and totaling 83.1 billion euros. However, the figures still remain below 90.2 billion in 2019, i.e. with 7.9% still to be recovered compared to pre-covid levels. Among the most dynamic sectors by far are jewelery and eyewear, which have instead fully recovered the sales levels at the end of 2019.
In the first 10 months of 2021, the export trend of Italian fashion was positive, although with a slowdown compared to that of the first half of the year: + 16.4% for fashion + 39.9% for related sectors. Non-EU markets are doing better than others as average (+ 21.8% fashion and + 55.7% related sectors). Among the top ten destination markets for Italian exports are China (with a performance of + 50.1%), which leads ahead of the United States (+ 32.8%) and France (+ 20.6%). British exports were less brilliant (-18.3%), influenced by Brexit.
The evolution of international trade, the achievement of high vaccination coverage and the positive data for October and November 2021 prompted analysts to slightly revise the estimates for the turnover achieved at the end of 2021. The set of fashion industry and related sectors will eventually probably exceed the expected initial figure of 83 billion euros (+ 20.9% compared to 2021 and -7.8% compared to 2019) forecast.
United Arab Emirates
The record increase in Italian exports of the fashion sector is recorded towards the Arab Emirates, with a growth in 2021 of 61.5% compared to 2020. The Arab Emirates are the first destination for Italian goods in the Gulf area and a strategic market for the entire Italian export. The data emerge from the traditional Confindustria “Beautiful and Well Done” report presented at the Dubai Expo.