MILAN, Apr 5 (Class Editori) - Intesa Sanpaolo provided one billion euro plafond for investments to support innovation and circular economy processes for companies operating in the wood supply chain, based on the understanding signed on April 4 with Federlegno.
A research carried out by Intesa Sanpaolo and presented by chief economist Gregorio De Felice during the signing of the understanding outlines that the furniture sector needs to rely on two strategic levers, investment and export, to keep its leading role in the high-end sector and to rise again after the hardship caused by 2008 crisis.
Intesa Sanpaolo observes that among the few encouraging signs is the growth in exports (+2,7%) over the last decade. These numbers have helped to mitigate a situation described as "dramatic."
Italian industry exports are mostly addressed to the United States (477 million euros), China (417 million), France (174 million), Canada (73 million) and Switzerland (68 million). Investing in the further development of e-commerce is fundamental to reach more distant markets.
The research highlights how Italy is clearly lagging behind its main European competitors and the EU average as well, but on the other hand in 2018 it has partially filled this gap through a solid growth rate, from 15% to 37%, of the share of people who purchased online household items, amounting to a turnover of €644 million.
“The furniture sector is a cornerstone of made in Italy, it's our strength. It is the fourth sector for trade surplus with seven billion and six hundred million surplus. If we position ourselves in the high-end sector, we are the third in the world after Germany and China. Although there was a decline in the sales of low-end products, we definitely gained market shares in the high-end segment, the Italian brand is solid and appreciated for its style,” added De Felice.
Therefore Italy is expected to intercept a 700 million share on a growth of six billion euros of global exports by 2021.
“We will provide a billion for credit and we will make it available through different solutions, in particular with investments in technology, bearing in mind the key aspects of the circular economy,” explained Stefano Barrese, head of Intesa Sanpaolo's Banca dei Territori.
The 2019 next edition of the Salone del Mobile.Milano in Shanghai is already scheduled on next November. Last autumn, over 22,500 visitors, buyers, importers, distributors, designers and architects attended the event. According to the latest report by the Italy-China Foundation, from 2010 exports China have tripled (+299%) and grew by 36% in 2017. As for the export towards the Russian market, following a strong growth, as a consequence of the crisis export have dropped by a total of 27% (while in 2017 the decline was reduced to -2%).
(Source:Class Editori)
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