World

Italian footwear production slows down

Feb 29, 2024 Italy

Italy recorded a footwear production of 148 million pairs last year, down by 8.6% year-over-year and a far cry from 2019’s 179 million pairs, after a progressive slowdown since the start of 2023

The 8.6% decline in footwear production to 148 million pairs in 2023 also led to a 5.3% fall in the number of active companies in the sector to 3 564, although the number of active persons employed remained stable at 73 639 (up by 1.8% on the previous year). On the other hand, the industry’s total turnover grew by 0.9% in 2023 to 14.63 billion euros, as compared to the previous year, which is considered a modest increase given the rising costs caused by inflation.

The data elaborated by the Confindustria Moda’s research centre for Assocalzaturifici also shows that exports (including re-exported footwear) are estimated to have risen by 1.1% year-over-year in value to 12.79 billion euros, while imports fell by 3.5% year-over-year in value to 6.99 billion euros.

“The year that closed was a mixed one. Brilliant performances in the first quarter with double-digit growth for export and revenue, and then a progressive slowdown. 2024 is showing concerning signs and we expect an additional stop, at least during the first half of the year”, summed up the president of the Italian Footwear association Assocalzaturifici, Giovanna Ceolini, as quoted by La Conceria.

According to La Conceria, the data available for the first ten months of 2023 suggest that the performance of Italian footwear in the US and Germany has slowed drastically (down by 20% and 7.8% year-over-year in volume respectively) but it has done well in China and the Emirates.

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