Trade

Positive 2023 for Italian footwear, leather goods and tannery machinery exports

Jun 18, 2024 Italy

According to ASSOMAC, the association representing Italian manufacturers of footwear, leather goods and tanning technology, the 3.66% year-on-year growth in exports in 2023 shows the “resilience” of the sector

Last year, Italian exports of footwear, leather goods and tannery machinery, including moulds and accessories, increased by 3.66%, as compared to the previous year. Although a positive figure, it was lower than the one recorded in 2022, due to the international conflicts and the consequent weakening of the global economic scenario, which weighed in the performance of the second half of the year.

In this context, the performance of the tannery machinery sector is noteworthy. Exports in this segment were up by 12.76% year-on-year, with good sales in Europe, America and Africa. On the other hand, the footwear and leather goods machinery segment ended 2023 with a decline of 4.61% year-on-year, despite performing well in America and Oceania. Exports of spare parts also fell by 4.02% year-on-year.

However, if the data for 2023 confirms the resilience of the sector, the outlook for this year isn’t encouraging, warns ASSOMAC, with exports down by 21.46% in the first two months of the year, as compared to the same period last year. “In this complex scenario, the footwear, leather goods and tanning machinery sector once again demonstrates its resilience and potential”, says Maria Vittoria Brustia, President of the association. But “in order to continue to shine on the international scene, concrete support from the institutions is essential”.

“It is crucial to relaunch investments, launch the implementation decrees of Industry 5.0 and identify measures with a long-term horizon. Without adequate incentives for new tangible and intangible capital, the adoption of digital innovations in production processes and the energy transition will slow down, holding back the productivity growth of our companies and their competitiveness on global markets”, she points out.

Image Credits: assomac.it

Italy Equipment and Machinery Exports Footwear International Trade Machinery Organisations