The Italian fashion industry is expected to log a 5 percent increase in revenues in 2015, reaching 64.2 billion euros, or $71.8 billion at current exchange, compared with 61.2 billion euros, or $68.5 billion, in 2014, according to the country’s Chamber of Fashion, which released its Fashion Economic Trends study on Tuesday, at the end of Milan Fashion Week. The expectation is based on a forecast of the euro exchange rate in line with the current trend. The study also expects the first half of 2016 to see a 6.5 percent increase in revenues.
Exports are expected to grow 7.1 percent to 50.2 billion euros, or $56.2 billion, in 2015, led by a strong performance of clothing and footwear. In the second quarter of the year, exports grew 8.8 percent, which is the best result seen in 15 quarters. The study highlighted solid business achieved on markets outside the European Union, such as the U.S. and China, especially.