Sep 11, 2023

Courtesy VicenzaOro/IEG

Italian Gold & Jewellery Exports See Strong Growth In Q1 2023

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.