Fiamp: 4th quarter and total-2005 results

There was an upward trend during the fourth quarter 2005 for the four Fiamp (Italian Fashion and Personal Accessories Federation) sectors. Total exports stood at 3,866 million euros (+12.1% compared to the 4th quarter 2004) and foreign trade was also positive during the 4th quarter 2005; footwear +812.8 million euros (-3.3% compared to the 4th quarter 2004), eyewear +301.9 million euros (+38.2%), leatherwear +304.8 million euros (+10.3%), jewelry +972.3 million euros (+17.1%).

The total Fiamp balance for the fourth quarter was 2,391.8 million euros, 10.4% growth against the same quarter 2004, despite continued, very tough asymmetric competition from China. For the whole of 2005, Fiamp sector exports stood at 15.06 billion euros and correspond to 5.1% of Italy's total exports. With a positive 8.7 billion euros foreign trade result, Fiamp sectors continue to guarantee essential support for Italy's trade balance.

There are good reasons for being optimistic about 2006, especially if the euro/dollar exchange rate remains at current levels; our exporters will not be excessively penalized as they were when it stood at 1.35 dollars to the euro, which meant that dollar-linked goods from China had a considerable advantage. There is strong recovery in orders for many industrial districts.

Italy's overall exports during the fourth quarter 2005 grew by 5.5% compared to the same quarter 2004 (in the third quarter, growth stood at 5.7%): 2005 closed with a slightly lower growth trend of 5.4%.

In this context of evolution, the overall export trend by Fiamp sectors was positive: a 12.1% variation in the fourth quarter 2005 (clearly against the market trend with figures of -1.0%, +2.8% and -6.5% recorded in the first, second and third quarters, respectively) brought to close 2005 with a positive variation of 1.4% compared to 2004.

The analysis of individual Fiamp sectors in the fourth quarter 2005 shows positive figures in all four product sectors for the first time in 2005. Eyewear recorded the highest increases both in the fourth quarter (+30.6%) and throughout 2005 (+12.8%). The value of jewelry sector exports is also against the market, which stood at 16.3% in the fourth quarter (there was a downturn of 25.1% in the third quarter) and remained stationary throughout 2005 (+0.4%) compared to the previous year, even though the quantities produced still show a two-figure downturn. The upturn is also registered in the leatherwear sector which stood at a positive 15.1% in the fourth quarter (the third quarter figure was -1.7%); the annual change was also positive at 9.6%. For the first time in 2005, the quarter's trend in the footwear sector was positive (+3.9%) but the annual figure is still negative (-2.7%); this is an indication that this sector is still having difficulties, due above all to the effect of asymmetric competition from China.

An analysis of the main Fiamp export destination countries as a whole shows a slight recovery in the fourth quarter 2005 compared to the same quarter 2004 for the four main outlets: United States (a change of 10.1% in the fourth quarter and -6.2% in 2005 compared to 2004), France (a change of 6.6% in the fourth quarter and 0.3% in 2005 compared to 2004), Switzerland (a change of 3.3% in the fourth quarter and -0.3 in 2005 compared to 2004), Germany (a change of 6.4% in the fourth quarter and -3.5% in 2005 compared to 2004). The figures for the United Kingdom remain negative (a change of -9.6% in the fourth quarter and -14.9% in 2005 compared to 2004).

Standing out in the classification of the first 20 Fiamp sector destination countries is the 68% growth in exports to the United Arab Emirates, which moved into 9th place in the fourth quarter, and China (+36.1%, 18th place), Greece (+33.3%, 14th place), Jordan (+31.9%, 20th place), The Netherlands (+27.9%, 12th place), Russia (+27.3%, 10th place).

During the fourth quarter 2005, the footwear sector's main outlet markets saw the United States moving into first place (despite a falloff of -11.1%), followed by Germany (+8.3%) and France (+3.1%). In the 2005 classification, Germany is still in first place (the United States lost 15.4%).

In the eyewear sector, the first three places are still held in both classifications (quarter and 2005) by the United States, France and Spain. With and increase of 39% for the quarter, Germany moved into fourth place ahead of the United Kingdom in the 2005 classification.

The first place in leatherwear goes to Switzerland, which was also due to the logistical movement of products, even though it recorded -0.4% in the fourth quarter. It is followed by the United States (+17.1%) and Japan (+23.4%).

Lastly, in the goldsmith and jewelry sector, the trend was positive for the first three outlet markets in the fourth quarter 2005: United States (+14.4%), Switzerland (+18.8%) and United Arab Emirates (at +79.1% in the fourth quarter, it moved into second place in the classification for 2005).