Italy's jewellery sector bets on exports to counter home weakness

Sep 12, 2013 1087

By Agnieszka Flak

Export-focused Italian jewellers are seeing sporadic signs of recovery in key foreign sales, offsetting deep-rooted weak demand at home, industry officials at a major trade fair said. The euro zone's third largest economy is battling with its longest postwar recession, which has put some small and family-run jewellers out of business.

But with 70 percent of the jewellery produced in Italy destined for export, manufacturers see some reprieve. "The Italian market is still weak, while exports, in particular to the Far East, Middle East and the United States are picking up," said Massimo Carraro, chief executive of jeweller and watch maker Morellato Group.

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Source: http://uk.reuters.com/

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