The sectoral report elaborated by Confindustria Study Center – Fashion for Federorafi on the first quarter of 2018 for the gold, silver and jewelry sectors, presents a generally positive picture.
Exports are on the rise (+3.3% compared to last year) with a turnover higher than EUR 1,5 billion. Imports (1.4%) reach EUR 391 million.
Gold – leader in worn jewelry
As for gold jewelry, foreign sales register higher than the average, +5%, totaling EUR 1.260 billion. Gold thus takes the lead in the entire sector of worn jewelry, which, in terms of exports, reaches a value of EUR 1,393.8 million and an overall change of 3.6%, at the expense of silver jewelry and, evidently, common plated metal jewelry, for a total amount resulting in a trade balance of EUR 1,060.8 million.
Pearls and precious stones, a value niche
Made-in-Italy pearls and precious stones also carve out quite a respectable niche as for exports (+55.2% compared to last year). So does Italian furnishing jewelry (mainly in gold and common plated metals), which has been focusing on exports abroad too, reaching +12.1% overall.
Geographically speaking, Switzerland confirms a growth trend of +23.4%; so do the United States (+3.3%) and France (+11.1%). Trend inversion, instead, for Hong Kong (-18%), while the Arab Emirates are still in decline. However, this drop is counterbalanced by the increase of the flows towards Turkey, that register +12.3%, as a consequence of the business displacement from the Arab Emirates. Good performance for the United Kingdom, with an increase of +23.7%
Federorafi: Consolidation and new opportunities
“For the next months – commented president of Confindustria Federorafi Ivana Ciabatti – we are confident of a consolidation of the US market, of a recovery of the United Arab Emirates, of new interesting opportunities in China in the light of the strong reduction of duties in force from 1st July, which should boost our direct exports to this Asian Country. We are also attentively monitoring how the situation is evolving in some highly potential areas in the medium term, like Africa (Nigeria in the first place). At the same time, we are carrying out one ad-hoc project with Ice Agenzia meant to relaunch our exports to Japan in the light of the 2020 Olympic Games and of the Free Trade Agreement (at zero duty) with the EU, that will enter into force in 2019. In short, there is cautious optimism for the months to come. There is hope that the international frictions will not expand and that our Government will carry on its actions in support of Italian manufacturing, making it something ordinary and not extraordinary”.
by Chiara Marseglia