The Italian jewelry industry files a decidedly positive 2022, with sales of 13.2 billion euros, up 22.1 percent from the previous year, a result that reinforces the important rebound accrued in 2021 (+55.3 percent). Exports (worth 70 percent of turnover) exceeded 9 billion euros, fully recovering pre-Covid levels in both value (+41 percent) and quantity (+5 percent).

Among the different markets, the United States is confirmed with 1.5 billion euros as the leading market (+12% in 2022), also supported by the strengthening of the dollar; followed by exports to Switzerland (1.3 billion euros, +21%) and the United Arab Emirates (1.1 billion euros, +21%).

Regarding expectations for 2023, about turnover, companies express more caution, although a majority positive sentiment prevails for the largest ones, both for the domestic and international markets. The issue of greatest concern to operators is the difficulty of finding labor, indicated by more than half of the sample (51 percent) as a critical issue, with increases in raw material prices weighing more heavily.

The Italian jewelry sector has shown great competitiveness in the last two years, the result of a long process of selection and requalification of supply that has led Italy to become the main production hub for high-end jewelry. The resolution of the conflict in Ukraine and the recovery of international tourism are judged to be the events that could most positively influence the performance of the Italian jewelry industry in the near future.