Italy is the sportswear champion: it is the first European country in terms of revenues

With a sporting milestone like Jannik Sinner's Wimbledon victory and the 2026 Milan-Cortina Olympics just around the corner, sport is undoubtedly a prominent topic in our country. So much so that, in September 2023, the Chamber of Deputies unanimously approved the amendment to Article 33 of the Constitution, introducing the new paragraph: "The Republic recognizes the educational, social, and psychological well-being-promoting value of sporting activity in all its forms."

Among Italy's perhaps lesser-known achievements in the sector is its European leadership in sportswear. According to the Mediobanca Research Area's report on the Sport & Outdoor industry—which analyzes the sector's performance globally, in Europe, and in Italy—Italy boasts several leading positions. First and foremost, it is the leading European country in terms of revenue: according to European Commission data, Italy accounts for 22% of the EU turnover generated by sporting goods manufacturers, surpassing Austria (14.8%), Germany (14.7%), and France (12.3%). Furthermore, it is the leading exporter of sporting goods outside the EU by value (20%), and is a leader in five segments: gymnastics and athletics equipment, sports footwear, target shooting rifles, water sports and skiwear, and skates. It is the second-largest exporter of winter sports products and tennis-related items, and the third-largest in the cycling sector.

Among the findings emerging from the first-ever Mediobanca report, Italy—in a negative European scenario—is the only country to record a trade surplus: €644 million in 2023, a balance of €3.344 billion in exports and €2.7 billion in imports, an improvement from the €544 million in 2022. The trade balance is even more positive (€848 million in 2023) when considering trade with non-European countries. The United States is the primary customer for Italian-made sportswear, but according to Mediobanca analysts, any decline in sales due to tariffs could be offset both by alternative outlets abroad and by a domestic market that is not yet fully saturated.

The report analyzed 82 Italian companies in the Sports & Outdoor sector, each with a turnover of more than €19 million and a workforce of more than 50. They generated added value equal to 0.15% of the national GDP in 2023 and generated aggregate turnover of €11,728 million (up 0.6% from 2022 and 19.2% from 2021), employing nearly 50,800 people. Preliminary figures for 2024 indicate a 0.4% increase in turnover for the largest Italian operators (compared to a 3% increase expected for the country's largest fashion companies). Expectations for 2025, however, appear cautiously optimistic: estimated turnover growth should be around 3%, exceeding €12 billion.