The economic crisis triggered by the Covid-19 pandemic continues to bite. In 2020, entire sectors of industry were heavily penalized by the lockdowns and restrictions imposed to stem infections. Among them, there is the Italian textile and fashion sector, whose turnover last year stood at 72,5 billion euros, 26% less than the 98 billion of 2019. In just 12 months, 25,5 billion euros went up in smoke. These are the data provided by Confindustria Moda.
In reference to the solo fourth quarter, the revenues of Italian fashion companies fell by 20% "a less intense decline than in previous surveys but still marked, with a significant number of companies, especially small and medium-sized, in serious suffering", underlines the Association.
“For the fashion sector 2020 has been a dramatic year, with heavy losses that have affected all sectors across the board”, commented Cirillo Marcolin, president of Confindustria Moda.
The downward trend is unfortunately continuing also in 2021, with a drop in turnover of 18,4%, but with still a contraction in losses. The decline should continue to ease in the second quarter of the current year, on which Confindustria Moda expects a 10% drop. "The real recovery is expected starting from the third quarter, with a marked acceleration in the fourth, however in the hypothesis of an advanced diffusion of the vaccination plan, with a progressive return to pre-Covid activity levels during 2022" , concludes the association. “As regards 2021, even in a slowly improving scenario, we remain concerned with a recovery that will not be visible before the second half of the year“, concluded Marcolin, according to which only with a “fast, timely and effective” vaccination plan will the country be able to restart.
However, it is not all negative. Despite the strong difficulties experienced last year, Italian fashion has recorded a trade balance of 17,4 billion, a figure thanks to which the sector appears to be the first contributor to the country's trade balance among the three Fs (Fashion, Food, Supplies) of Made in Italy.
The result was also confirmed by the Intesa Sanpaolo Studies and Research Department, according to which it was above all that contributed to the result the Asian markets: in the January-November period, the balance for exports of clothing and the leather supply chain directed to China is only slightly negative (-6%).
Turning instead to the sector districts Fashion, Textiles, clothing, Leather goods and footwear, the institution underlines the results obtained by Arezzo which managed to grow in the summer months thanks to leaps in exports to China, and from Perugia, where Knitwear and apparel achieved excellent results in the United States and Russia.
“The levels of the districts in the third quarter of 2020 remained very far from those of the previous year, showing a decline of -13,9% for consumer goods (clothing, footwear, leather goods, knitwear) and -21,4% for intermediate goods (textiles, tanning). The choices of families to limit themselves to essential purchases, the collapse of tourism, as well as the spread of smart working which penalizes the formal segment of clothing and footwear weigh heavily”, concludes the Studies and Research Department of Intesa Sanpaolo.
