Summary of the Economic Note - 41st edition of Milano Unica
Data processed by Economic Studies and Statistics Office of Confindustria Moda
According to data from the Economic Studies and Statistics Office of Confindustria Moda, Made-in-Italy textiles closed 2024 with total sales of euro 7 billion, down -8.8%. Exports amounted to euro 3.8 billion, marking a -10.7% decrease. This negative performance affected all segments of the industry, with consequences for both the number of textile companies (-5.2%) and employment (-3.4%). Data for the first quarter, while still broadly negative, show diverging market trends. For example, according to the istat’s industrial production index, woven fabrics fell by -6.9% between january and march 2025, in line with the year-end decline (-7.0%). Conversely, knits reversed the trend: after a -20.7% drop in q1 2024, knits grew by +11% in q1 2025. Similarly, diverging trends were observed in exports of made-in-italy textiles, which overall declined by -2.3%. This negative outcome is mainly attributable to wool and knits, which were down -5.3% and -4.1%, respectively. Other textile exports recorded growth, although not enough to offset the decline: cotton rose up +1.1%, linen by +1.2% and silk by +1.6%. Export performance also varied by destination market. Exports to eu countries (accounting for 45.8% of total sales) dropped by -5.0%, while exports to extra-eu countries (accounting for 54.2%) edged up slightly by +0.1% despite a sharp decline in exports to china (-16.5%). An analysis by export market confirms france and germany as the top two destinations, recording declines of -0.2% and -2.5%, respectively. Tunisia ranked third with a +4.5% increase, followed by romania, which posted a -14.4% decline. Worth mentioning is the strong performance of the united states (+18.4%) despite uncertainties linked to trump’s tariff policies. Lastly, china and hong kong, both reporting significant reductions, would aggregatively rank as the second-largest export destination. In q1 2025, imports recorded double-digit growth rates. Imports from extra-eu countries represented over 68.6%, lead by china, which saw a 40% increase. This surge contributed to a reduction in the trade balance surplus compared to the comparative period in 2024. However, expectations suggest that the situation may improve in the second half of 2025.
