In 2021, Italy increased production of wood and furniture technology by 36.9% y-o-y to Euro 2,530 million, increase of 11.6% versus 2019, according to Studies Office of Acimall, the association of Italian manufacturers of wood and furniture technology.
The exports reached Euro 1,740 million (+30.8 over 2020; +10.1% over 2019), with a domestic market showing signs of liveliness (Euro 790 million, +52.5% over 2020 and 15.1% over 2019). Imports also increased, reaching Euro 244 million, 59.4% more than 2020 and 21.4% more than 2019.
“The 2021 figures speak for themselves, showing that the technology industry has emerged from two difficult years, going back to pre-Covid levels”, said Dario Corbetta, Acimall director. “State incentives have certainly played a key role, but they have not "altered" the market trend: the growth we are seeing now is not only driven by incentives (which have basically caused a concentration of investment decisions in a narrow timeframe), but also by a significant market rally that has brought business back to its normal development patterns”.
“So, we want to reassure those who fear that the current trend is "doped" by the incentives, and once this window of opportunity has closed, we will have to face a period of stagnating demand”, Corbetta continued. “Such belief is supported by the economic figures of the early months of 2022, which clearly indicate a structural expansion of our industry, which is going to last”.
The Russia-Ukraine crisis has only caused a limited reduction of Italian export so far, said Acimall in a statement. Russia, Ukraine and Belarus together represent a small share of Italian export, approximately 5%, and the export flows to those countries seem to continue, though with a significant reduction. Many woodworking machines are not listed in the "Dual Use" category of equipment that can be used to produce warfare materials, so they are not subject to the current embargo, while all spare parts are subject to constraints. At present, banking operations, despite some difficulties, have not been interrupted, with a few Russian institutes still working.
In 2021, the top position in Italian machinery exports is taken by the United States (Euro 164.2 million, +13.9% over 2020), followed by France (Euro 118.2 million, +10.3%) and Poland (Euro 110.6 million, +34%). Germany is at number four in the list of “customer countries”, with an expenditure of Euro 106.3 million euro on Italian machinery, up by 11% compared to 2020. Then come the United Kingdom (Euro 81.3 million, +56%), Spain (Euro 76.2 million, +62.3%), Russia (Euro 67.3 million, +102.4%) and China, placing orders in Italy for Euro 60.1 million euro, the only country in the top-ten list with a negative trend by 19%. The list is closed by Belgium (at number nine with Euro 56.6 million euro, +18.4%) and Austria (Euro 54.5 million, +36.6%).
Acimall expects the positive trend is going to endure throughout this year, although supply chain disruptions and unpredictable events related to the Russia-Ukraine conflict and the development of the global Covid-19 pandemic might shuffle the cards once again.
“We are now looking forward to Xylexpo next October – Dario Corbetta concluded – which will be a great opportunity to check the health of our industry and the trend of international trade flows”.
