The elaborations carried out by the Confindustria Federorafi Research Centre confirm the positive trend of goldsmith sector in the first eight months of 2024 thanks to the growth in exports (+39,2%) for a global market value of over 9,7 million euro.
Goldsmithing, the numbers
Italian goldsmith production is a leader in Europe and is the third force in the world after India and China. Growth was supported not only by increases in precious metal prices, but above all by the performance of Turkey, which rose from fifth to first place with a +568,3% over the same period last year. Turkey's evolution can be traced back to wars, inflation and an increase in local taxation on gold, which encouraged the import of finished products.
In second place, the Usa with a drop in sales of -3,9%, while Switzerland remains in third place, despite a drop of -22,4%.
Le cheap imports instead they remain in drop with -18,8%, for a total of 1,4 million. The sector trade balance is equal to 8,3 million, up +59,5% (3,09 million) compared to the surplus recorded in the corresponding period of 2023.
Optics, the numbers
Another cornerstone of Made in Italy excellence, theoctave, recorded cross-border sales from January to August equal to 3,6 billion euros, down 0,2% on the same period in 2023. A result in line with the first six months, closed with exports at -0,3%.
Anfao data underline the international situation marked by wars, global uncertainty and high energy costs in Italy.
From a broader perspective, what is worrying is not only the decline in the US (-12%), but also the consequences of possible American duties that could hit European products next year. Furthermore, theGerman economy is in crisis especially for automotive and the lack of purchasing power could also drag down Italian companies in the sector.
