Italian nautical industry boosts export and revenue
An exceptional year for the Italian boating industry, which has set new records for revenue and exports. The data was recently presented at the 64th International Boat Show in Genoa, as part of the Boating Economic Forecast conference, the new edition of Nautical Figures – LOG, the statistical yearbook produced by the Studies Office of Confindustria Nautica in partnership with Fondazione Edison, under the patronage of the Ministry of Infrastructure and Transport.
“The recreational boating sector remains very strong in 2023, continuing the reactive growth that has characterized the post-pandemic years: the turnover of the industrial sector has reached a historic high of 8.33 billion euros, which corresponds exactly to 1 billion more than in 2022. The 13.6% increase follows the already significant growth of 20% recorded in 2022,” said Saverio Cecchi, president of Confindustria Nautica.
“The final data emerging from this 45th edition of Nautical Figures reflect our previous estimates for 2023,” said Ing. Stefano Pagani Isnardi, Director of the Studies Office of Confindustria Nautica. “The turnover of the shipbuilding sector grew by 14.8%, reaching the upper end of the confidence interval.” Among the factors that fueled this further increase in turnover, the success of exports of nautical shipbuilding production (+16%) must be considered. In this regard, Prof. Marco Fortis, director and vice president of Fondazione Edison, scientific coordinator of the research, pointed out that in 2023 the export of recreational craft produced in Italy exceeded 4 billion euros, further increasing in the first four months of 2024, reaching a peak of 4.23 billion euros.
“In 2023, Italy maintains its position as the world’s leading exporter of the shipbuilding sector, accounting for 19.3% of global exports. This is the highest share ever recorded by our country,” continued Fortis. The Italian boating industry clearly has a strong propensity for foreign markets, with the USA continuing to be the most important market globally for our shipyards. Thanks to an export rate of 90%, Italian production of new recreational craft confirms its world leadership in superyachts – with over half of global orders – as well as in the segments of large inflatable units, components, and accessories.”
Recreational boats are also among the sectors that have recorded the greatest export growth since the beginning of the new millennium. Considering only the most relevant manufacturing sectors for the Italian trade balance, those with an export surplus exceeding 2 billion euros in 2023, the “Recreational boats and sports craft” sector ranks fourth in export growth, climbing two positions from 2022.
The industry’s contribution to the Italian job market increased by about 7% in 2023, with a total of 30,690 employees. The sector’s contribution to the national GDP in 2023 exceeded 7 billion euros, an increase of about 14.2% compared to the previous year. In addition, the sector’s contribution to GDP as a percentage of the national GDP reached 3.38 per thousand in constant growth since 2013, showing greater growth compared to the national economy, especially in the last three years.
According to Ing. Stefano Pagani Isnardi, “the general picture of the last 12 months separating us from the previous edition of LOG has changed, with some transformations in the dynamics of the boating market in the various reference segments. 2024 appears to be characterized by a normalization of sector growth following a long cycle of strong development and a more evident differentiation in dynamics between high-end products and small boats. In particular, the latter is experiencing uncertainties due to the presence of high stocks of recreational craft in some markets, interfering with the sale of new models in certain size segments.
The performance of the main autumn boat shows in 2024, led by our Boat Show, will clarify the reference framework, but the prospects for the future at the Italian industry level should remain overall positive. And it’s no small feat, considering the current challenging external economic scenarios, with still too high interest rates, difficulties in accessing credit, growing international geopolitical tensions, and the anticipation of the results of the American elections.”
To conclude, Enrica Del Grosso, Regional Director of Business Network Nord Ovest, SACE, outlined the role of the Italian insurance-financial group in supporting companies in the sector to be more competitive and face the dual transition: digitalization and sustainability.
Nautica italiana, accrescono export e fatturato
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