MILAN, Sept. 14 (Class Editori) -- After remaining more or less stable last year, Italian export to China will exceed 14 billion euros in 2021, continuing to grow in the following years as well. Given the extraordinary performance of intermediate goods in 2020, mainly led by chemicals and metals, the acceleration of sales to Beijing expected this year will be driven in particular by consumer goods (+12%, with fashion and furnishings being markedly dynamic) and investment products (+11.7% across the main sectors). Data emerged from SACE's latest Export Report.
According to the export credit company, the best-performing countries are those where Italian export has promptly recovered and will remain dynamic in the following years.
The gold medal for maintaining a dynamic economic and commercial activity went to Made-in-Italy sales in Germany, Italy's first target market, which will grow at double-digit rates in 2021 thanks to the driving force of investment and intermediate goods. This is followed by the US, the third largest Italian market and the primary non-EU one, with a 11% growth rate in 2021. Switzerland's role as international logistics hub is consolidated and will notably contribute to the expected growth of consumer goods, especially as concerns textile and clothing industry (+11.1%). A similar recovery is expected in Japan (+14.3% in 2021), a market that is increasingly close to Italy in the wake of the economic partnership agreement with the EU in force since 2019. Despite recent political tensions, Russia, only partially affected by the pandemic, remains a significant destination for Italian export, given its economic solidity, low public debt and significant currency reserves. Instrument mechanics will drive Italian export to Moscow (+18.7%). The 15.5% growth of Italian exports to Canada expected for 2021 stood out, driven above all by the favorable dynamics of instrument mechanics (+19.6%) and food and beverages (+11%). Great results also for Poland, which will maintain a high demand for food and beverages.
Italian export should remain positive to Vietnam (+16% in 2021) as well as to Taiwan (+7.5% in 2021). UAE is also a key target market, to which exports will grow by 15% this year thanks to instrument mechanics that will benefit from the Government's diversification plans to become a manufacturing hub.
(Source:Class Editori)
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