The Italian leather supply chain has recorded an 8.6% drop in turnover for 2024, compared to the previous year. This decline is driven by falling exports and imports, reflecting the impact of global economic instability and geopolitical challenges.
The leather supply chain of Confindustria Accessori Moda, which represents around 10,000 companies across the footwear, leather goods, tanning, fur, and leather clothing sectors, unveiled its latest economic data at the Micam Milano, Mipel, TheOneMilano, and Lineapelle trade events at Fiera Milano Rho.
According to the preliminary figures, the total turnover of the leather sector is expected to reach €30 billion, marking a decline of €2.8 billion compared to 2023. This downward trend has affected all sectors within the supply chain, causing concern among businesses and workers alike.
Despite the challenges, “Made in Italy” products continue to be highly valued worldwide. Giovanna Ceolini, President of Confindustria Accessori Moda, emphasized the global recognition of Italian craftsmanship and highlighted the importance of the recent agreement with Maeci, which aims to strengthen the competitiveness of Italian companies abroad.
However, Ceolini also stressed the urgent need for government support, warning that without long-term interventions, the sector risks severe job losses.
The export of Italian leather products in 2024 reached €25 billion, but this marks a significant 8.2% decline compared to the previous year. Imports also fell to €11.5 billion, down by 4.5% from 2023.
Despite these setbacks, the industry maintains a trade surplus of €13.5 billion, though the overall economic outlook remains challenging.
Key Market Trends:
- Within the EU:
- France saw a 0.5% decline in Italian leather imports.
- Germany’s imports dropped by 0.2%.
- Spain and Poland, however, showed a promising 10.6% growth.
- Outside the EU:
- Exports to Switzerland plummeted by 59.1%, as brands shift from using Swiss warehouses to direct shipments.
- The United States recorded a 3.9% drop, with future uncertainty due to possible new trade tariffs.
- Japan (+8.8%), Hong Kong (+4.8%), and the UAE (+37.1%) showed positive growth.
- South Korea (-14.4%) and China (-9.5%) saw steep declines.
The difficulties in the Italian leather industry are also evident in employment trends. In 2023, the sector saw a slight recovery of 1.8%, but 2024 is expected to bring a decline of over 5,900 jobs (-4.1%), bringing total employment below 140,000 workers.
