Italian menswear exports ended 2022 with strong growth. This is according to data released during a Pitti Uomo 104 press conference.
As reported by the Confindustria Study Center for Sistema Moda Italia, January-December 2022 exports registered a remarkable 24.7 percent year-on-year increase and amounted to around 8.9 billion euros, Pambianco reported. Imports also recorded significant growth, rising by 43.9 percent to 7 billion euros.
Both the European Union and non-EU markets saw significant growth, with growth rates of 25.6 percent and 24 percent, respectively. The EU market accounted for 45.4 percent of the sector’s total exports.
Matteo Zoppas, President of Agenzia Ice, highlighted the fashion sector’s contribution to Italian exports in 2022, which is impressive at 80 billion euros, an increase of 17.7 percent compared to 2021. Men’s fashion accounts for 10 percent of this. Zoppas said the positive trend is expected to continue in 2023 as textile and apparel exports have already increased by 12.7 percent in the first two months of the year, reaching nearly 11 billion euros.
The thriving fashion sector, Italy’s third largest manufacturing sector, aligns with upcoming international fashion shows such as Pitti and Milan fashion weeks, where Ice will provide strong support to the approximately 61,000 active companies employing nearly 500,000 workers in the sector.
Fashion sector is thriving
Switzerland emerged as the top destination for Italian menswear, with a 14.1 percent increase, absorbing 11.2 percent of the sector’s total value at €1 billion. France follows with a growth rate of 29.8 percent (993 million euros, 11.1 percent of the total), while Germany recorded an increase of 21.9 percent (975 million euros, 10.9 percent).
The United States recorded a significant increase of 68.6 percent (858 million euros, 9.6 percent of the total volume) as a destination country, securing fourth place. China recorded growth of 8.6 percent, reaching 568 million euros (6.4 percent of the total volume). The UK saw a more modest increase of 12.2 percent, and Spain, South Korea and the Netherlands showed notable changes of 25.1 percent, 40.7 percent and 37.5 percent, respectively. Japan rounded out the top 10 with a growth rate of 8.7 percent.
Hong Kong (-3.6 percent), Poland (+42.5 percent), Austria (+32.6 percent) and Belgium (+14.2 percent) showed different developments. Only Russia saw a -15.5 percent drop in sales, as did Hong Kong, which showed a downward trend as early as 2021.
Comparing the data to the period prior to the Covid pandemic, the top five markets have all significantly outperformed 2019 levels. Switzerland grew by 21.8 percent, France by 38.4 percent, Germany by 33.5 percent, the US by 34.7 percent and China by an impressive 63 percent, which is almost 220 million euros more than in 2019. The UK and Japan, however, fell 40 percent and 11.2 percent, respectively, below 2019 levels.
Hong Kong saw Italian exports fall by 34.5 percent compared to pre-pandemic times, a loss of around 124 million euros. Russia also recorded a decline of 25.1 percent (almost 44 million euros).
The next edition of Pitti Uomo will take place in Florence from June 13th to 16th.
This translated article originally appeared on FashionUnited.uk.