Italy's leather industry suffers from the impact of the euro, the benefits decline

by:JIYALI     2021-07-30
According to the Italian '24 Hours Sun' report, due to the strong euro and rising raw material prices, the Italian leather industry was in a downturn in the first half of this year. According to statistics, in the first half of 2007, Italian leather production fell by nearly 3 percentage points, and the output of leather clothing and leather furniture manufacturing industries also fell by 2% and 4%, respectively. Although sales in the first half of the year increased by 3.6%, it was not enough to offset the 5.8% increase in raw materials, coupled with a relatively heavy tax burden (60%), resulting in a decline in the marginal benefit of the industry. Italian leather is currently exported to 143 countries. The US market is shrinking, exports to European countries have increased, and exports to China continue to grow, showing that the demand for high-end leather in China's domestic market is increasing. Most of the procurement of raw materials comes from Europe, because many countries in South America, Africa and Asia impose taxes or prohibit exports of raw leather. At present, the Italian leather industry has a total of 28,000 employees and a total of 2,300 enterprises.
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