Confindustria Moda: turnover in 2018 exceeding EUR 95 billion (+0.9%)

Confindustria Moda, the Federation of Textiles, Fashion and Accessories companies, has presented its preliminary results for 2018, with increases across all main economic indicators.
In particular, member company turnover reached EUR 95.7 billion in the year just ended, a +0.9% increase over the final 2017 figure of EUR 94.8 billion. Following sustained growth in 2017, sector exports reached EUR 63.4 billion, posting a +2.6% increase over the EUR 61.8 billion in 2017. Imports are also up at EUR 35.1 billion in 2018 (+3.1% compared to 2017). The trade balance improvement is continuing as well. It is positive by EUR 28.3 billion, up by about EUR 592 billion in 2017 (+2.1%).
Looking at the geographical distribution of exports during the first ten months of 2018, the EU remained essentially stable overall (+0.4%) compared to the same period in 2017 – with the following countries as the major importers of the sector products: France (+2.4%), Germany (+0.9%), United Kingdom (+6.5%) and Spain (-1.9%).
Exports flows outside the EU proved to be more dynamic, posting a +4.3% increase.
Among the non-EU markets, we note Switzerland with a +14.2% increase, as it became the main logistics platform for many product categories, pending re-exportation to other markets. Sales to the United States, the third largest market for sector exports in absolute terms, were 8.6% of the total, up moderately by +1.3%.
In the Far East, Hong Kong posted a -3.5% drop; conversely, exports to China continued to be buoyant, with +13.6% growth. Exports to South Korea (+11.3%) and Japan also increased.
In Russia, the recovery witnessed during 2017 (with a +12.4% increase) was followed by a -3.2% drop in the initial ten months of the year. China continues to be the main supplier of Italian companies (19.6% of the total), though for the period under review, import flows from this country dropped (-2.3%).
According to Claudio Marenzi, the Chairman of Confindustria Moda, “The preliminary figures for 2018 indicate that the sector is still growing, but at a slower rate. We continue to be one of the most significant sectors in terms of the Italian trade balance and a prime example to the world of how to combine industry and craftsmanship. This is the achievement of an integrated supply chain, upstream as much as downstream, which constitutes a unique example globally. This is a part of Italy’s industrial heritage and we trust that all will collaborate to preserve it in the face of global competition challenges”.