Intesa Sanpaolo supports Made in Italy fashion

Italy is a European leader of the fashion industry system (textiles, clothing and footwear): this is the conclusion reached by a study conducted by Intesa Sanpaolo’s Research Department on the occasion of the Milan Fashion Week held in September 2018. In fact, the textile industry is a key sector of the Italian economy, employing over 500,000 people and accounting for 10% of the country’s entire manufacturing sector, with 24.2 billion euro of added value generated in 2017 alone (one third of the entire value added generated in Europe). These figures clearly show Italy’s leadership in this sector, also in terms of production, with a positive trade balance of approximately 20 billion euro. A comparison with its principal European competitors thus reveals Italian fashion’s considerable global competitiveness, when compared with the trade deficit of the French fashion industry (-13.9 billion euro), of the German industry (-19 billion euro) and of the British industry (-21 billion euro).