MILAN, July 21 (Class Editori) — Italian companies have shown resilience and vitality in international trade, even after the shocks of the pandemic and the war. In particular, in 2022, Italian exports reached 624 billion euros, 20% higher than in 2021, returning to pre-Covid-19 levels.
This trend will continue in 2023, albeit at a slower pace. In the first five months of the year, however, Italian exports grew by 4.8%, placing Italy third in the European export ranking after Germany and the Netherlands, as reported by the President of the Italian Trade Agency (ITA), Matteo Zoppas, commenting on the 25th edition of the "Yearbook of Foreign Trade and International Business Activities," published by ITA and Istat.
Tourism grew exponentially
Tourism grew exponentially in 2022, as exports of travel goods increased from 21.2 billion euros to 44.3 billion euros (+108%) between 2021 and 2022.
Although machinery is confirmed as the leading sector of Italian exports, with an export value of 92.9 billion euros (+10.3%) in 2022, other main sectors contributed significantly to the growth, such as pharmaceutical, chemical-medical and botanical products (+42.8%, with more than 47.6 billion euros in exports), refined petroleum products (+80% and 24.7 billion euros in exports) and basic metals and metal products (+17.6%, 73.5 billion euros). Food and tobacco, on the other hand, reached 52.3 billion euros in exports (+16.7%).
Italy loses global share
Despite all the record achievements, Italy lost market share in world merchandise exports in 2022, falling from 2.79% in 2021 to 2.65%. This is because, as ITA and Istat explained, the share gains were recorded by countries exporting raw materials, especially energy.
However, while Italy's market share in the main sectors remained essentially unchanged or fell slightly, the share of Italian goods exported to foreign markets fell almost everywhere. In the EU, it fell by three-tenths of a point to 4.6%, with particularly large declines in France and Germany (from 8.5 to 7.9% and from 5.5 to 5%, respectively), which were only partially offset by significant gains in smaller markets such as Croatia or Slovenia. Market share also declined in Switzerland (from 10.1% to 8.7%) and in Russia, but increased in Turkey. (All rights reserved)
(Source:Class Editori)
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A single purchase
