The Italian boating industry had a nearly 13 percent gain in sales last year, as boatbuilders and equipment manufacturers reported strong gains. UCINA, Italy’s marine trade association, said in its annual report that 2017 sales of boats and equipment were up 12.8 percent to $4.47 billion (€3.88 billion) compared to the previous year.
The association also reported that boat and equipment sales for the domestic Italian market were up 15.4 percent to $910 million (€790 million). The overall contribution to Italy’s GDP was 1.87 percent, or a gain of 13.4 percent over the previous year.
The boating industry is enjoying a five-year gain in sales from a low point in 2013, when it had $2.88 billion (€2.5 billion). In 2007, the industry had sales of $7.1 billion (€6.2 billion).
The report said that 65.5 percent of total sales came from outside Italy, with 34.5 percent in the domestic market. Domestic production accounted for about $3.72 billion (€3.23 billion) of the annual total, while imported products were about $743.5 million (€646.0 million).
New boats accounted for 58 percent of total revenues, followed by equipment (28 percent), engines (8 percent) and refits (6 percent).
Italy’s marine workforce rose to 19,600 for 2017, compared to 18,480 a year earlier. About half are employed in boatbuilding, and the others are divided between equipment and refits.