The number of persons employed in the cutlery sector in Italy has exhibited significant fluctuations from 2013 to 2023. Starting with a declining trend in the early years, employment decreased from 2.03 thousand in 2013 to a low of 1.79 thousand in 2020. However, there was a notable recovery post-2020, with a substantial increase to 3.52 thousand in 2023, marking a 15.65% year-on-year growth. The overall Compound Annual Growth Rate (CAGR) over the last five years (2018-2023) stands at 13.18%.
Key Trends and Variations YoY:
- 2013: -0.25% YoY, -3.54% CAGR
- 2014: -2.41% YoY, -2.5% CAGR
- 2015: -4.74% YoY, -2.56% CAGR
- 2016: -0.64% YoY, -2.16% CAGR
- 2017: 1.49% YoY, -1.33% CAGR
- 2018: -0.58% YoY, -1.4% CAGR
- 2019: 40.65% YoY, 6.08% CAGR
- 2020: -32.96% YoY, -1.12% CAGR
- 2021: 37.01% YoY, 5.45% CAGR
- 2022: 24.27% YoY, 9.81% CAGR
- 2023: 15.65% YoY, 13.18% CAGR
Looking ahead, the forecasted data indicates continued growth in employment within the cutlery sector, albeit at a slower pace, with a forecasted CAGR of 2.52% from 2024 to 2028. Future trends to watch for include:
- Technological advancements impacting production processes and labor demand.
- Changes in consumer preferences and market demands.
- Global economic factors and trade policies affecting the sector.
