In the first quarter of 2023, Italian gold and jewellery exports surged by 16.6% to €2.5 billion, according to a press release issued by Italian Exhibition Group (IEG) at the ongoing VicenzaOro fair. This growth is further substantiated by a 14.6% increase in quantity terms compared to the same period in 2022. Notably, the top four foreign markets in terms of value were the USA (+5.9%), Switzerland (+18.3%), the United Arab Emirates (+11.3%), and France (+18.8%).
This robust growth comes amid promising signs for high-end companies worldwide, which are projected to experience a 6% increase in margins for the year 2023, as per sentiments expressed in the Altagamma-Bain Worldwide Luxury Market Monitor.
Tuscany emerged as the leading exporting region, accounting for approximately 35% of the national total, and registered a 11% increase in exports during the first quarter. In terms of provinces, Arezzo (+8.4%) secured the top position, followed by Vicenza (+6.9%), Alessandria (+24.4%), and Milan (+56.2%). The provinces within the Naples-Caserta district in Campania collectively posted 24.9% growth.
Additionally, there are encouraging signs of stability within the demographics of Federorafi member companies. At the end of March, the number of active companies saw a modest decline of -37 companies, totalling 7,001, which represents a mere -0.5% decrease compared to the figures from December. Moreover, employment within the sector remained steady, with a total of 32,312 individuals employed across industry and artisan workshops, marking a slight increase of 0.1%, according to data processed by Confindustria Moda’s Study Centre for Federorafi.
The Italian gold and jewellery industry’s performance in the first quarter of 2023 sets a promising tone for the sector’s growth prospects in the coming months, both domestically and on the global stage.
Offical Facebook account of heerazhaveraat.com, homepage for Trade News, Articles and Promotion of D
Glimpses of Bharat Diamond Bourse Marks 41 Years of Excellence & 15 Years of Operations of BDB Complex with the Release of customized My Stamp by Department of Posts, Government of India.
Below is the full article
https://lnkd.in/dxZJxcbD
Heera Zhaveraat (HZ International) A Diamond, Watch and Jewellery Trade Promotion Magazine provide dealers and manufactures with the key analytical information they need to succeed in the luxury industry. Pricing, availability and market information in the Magazine provides a critical edge.
