Crisis in Italy: footwear and technology exports decline
The reference periods are from January to September 2024, focusing on exports, where footwear manufacturers experienced a 9.2% decrease in volume and a 9.7% drop in value compared to the same period the previous year. According to a statement distributed by ASSOCALZATURIFICI -the association representing Italian manufacturers- the declines are largely attributed to geopolitical instability, the Russian-Ukrainian conflict and wars in the Middle East, which have severely impacted Italian exports.
The negative balance was compounded by the closure of 144 factories and the loss of 2,619 jobs during the referenced period.
On the side of technology providers -machinery and systems for footwear, manufactured goods, and tanneries- ASSOMAC, the association representing the manufacturers of this sector, reported that exports dropped by 6.77% in the first nine months of 2024 compared to the same period in 2023. Significant decreases were observed in machinery for footwear and leather goods (-22.45%) and for European tanneries (-30.61%). Both African and Asian markets showed weak demand.
In its analysis, the technology suppliers' association indicated that the results are a consequence of a complex international political and economic landscape affecting sectoral activity.
Finally, the report highlights that "focusing on the development of advanced technologies and strengthening international partnerships will be crucial to regaining ground in more mature markets and consolidating Italy's global presence."
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