'Made in Italy' textiles appear under threat

26/03/2008
According to the Italian Association of Corporate & Investment Banking (AICIB), the Italian economy is undergoing some serious changes. While trade with its Mediterranean neighbours has increased, some of its core industries appear to be under threat.

The association records that Italian exports to countries in the southern Mediterranean rose 13.3% in the first quarter of 2007. Furthermore, exports to the area grew 57% between 2001 and 2006 from €35 billion to more than $55 billion.

Despite this, sectors that traditionally fit into the 'Made in Italy' category – such as textiles, clothing and furniture – have shown signs of decline. Exports for these industries have been weak and international outsourcing has increased rapidly as producers seek to reduce costs.