ITALY - 2022 is closing with another positive result for the world of machinery, equipment and tools for the Italian wood processing and furniture industry.

Based on the data collected by Acimall, the association that represents the industry companies, total production reached a value of EUR 2.64 billion, up by 4.6 percent compared to the previous record in 2021.

The trend of export was substantially stable, amounting to EUR 1.75 billion euro (plus one percent over 2021), with domestic market sales at EUR 889 million euro, 12.1 percent above the excellent result of last year, marking a new record also for these categories.

Import increased too driving the trade balance to a positive result by EUR 1.5 billion, more or less the same value as in 2021, with a 0.2 percent increase.

Apparent consumption in Italy amounted to EUR 1.14 billion, up by 10.8 percent compared to last year.

The figures are clear: in 2022, the industry companies have replicated the successful results of the past two years, though with a slightly lower growth rate. Actually, it would have been impossible to do better, because the term of comparison is the record year 2021, and because in 2022 the effects of the pandemic were aggravated by a very complex situation, the Russian invasion in Ukraine, soaring energy prices, the closure of many markets, and the enduring difficulty to provision components and raw materials.

These elements had a stronger impact in the final quarter of 2022, with results that negatively affected the end-of-year balance.

However, the Italian “client companies” maintained a sustained investment flow, supported by strong incentives from the central authorities, which helped them renovate their equipment fleet.

Right now, it is harder than ever to make forecasts for 2023: the well-known global challenges, the overall economic situation that does not seem to support family spending or new mortgages for home buying or renovation, and the strong technological renovation carried out by companies in recent years, certainly suggest cautious optimism, which might translate into a substantial confirmation of the levels achieved this year.