The key points
- In 2020, the value of textile-fashion exports reached 47 billion (-18.5%)
- In the first nine months of 2021 there was a rebound of 16.4%
- Emilia Romagna and Veneto are the regions that have reacted best. In 2020, together with Lombardy and Tuscany, they absorbed 80% of fashion exports
Although the unknowns on the plate are different (from the pandemic to rising costs), the fashion sector is expected to recover from the pandemic shock later this year. This was stated, among others, by the analysis by Sace’s research department “Will Fashion be back in fashion?” Which examines the textile-fashion sector and trade with foreign countries. And it traces, in fact, a picture of recovery.
The rebound of exports
Although in 2020 the export value of the fashion sector lost more than 10 billion euros (-18.5%) reaching 47 billion, with negative peaks (-23.8%) in the leather goods and luggage segments, in the 2021 there was an important rebound: between January and October 2021, cross-border sales registered a + 16.4% compared to the same period of the previous year. The gap remains (-6.6%) with the pre-Covid period, with the exception of textile products that have already exceeded 2019 levels. , in 2021 there was a generalized recovery. The United Kingdom is an exception: exports are affected by the bureaucratic implications linked to Brexit. On the other hand, Poland (new Eastern European fashion hub), South Korea and China shine.
Italy is currently the third largest exporter in the world with a market share of 5.3% – and is second in the leather segment with a share of 14 percent – and reports a positive trade balance for all sectors of the sector (according to Confindustria moda data, the TMA closed 2020 with a positive trade balance of 17.4 billion, ed). Precisely in 2020, however, fashion became the third Italian sector for exports, with a weight of 11 percent.
Focus on the regions
By tightening the focus on the territory, it emerges that in 2020 80% of Made in Italy fashion exports were generated by four key regions in luxury production: Lombardy, Tuscany, Veneto and Emilia Romagna. If, however, Lombardy and Tuscany recorded a decline above the national average, Emilia Romagna and especially Veneto – also due to the product categories: clothing, which in 2020 represented more than 50% of exports in value, and footwear – reacted better. Despite the crisis, the provinces where specific industrial districts – such as Florence and Vicenza – have been confirmed as important export poles.
In 2021 – the analysis examines the January-September period – there was a widespread rebound in almost all regions: if the recovery is more difficult in Piedmont, Marche and Campania, Lazio is growing compared to pre-crisis levels .