ICE Report: COVID-19 Will Cause Exports to Lose 3 Years, Recovery of World Trade in 2021 Led by Asia

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The photograph presented by the heads of the Ice Agency in the presence of the Minister of Foreign Affairs and International Cooperation Luigi Di Maio, the Undersecretary Manlio Di Stefano and the President of Istat Gian Carlo Blangiardo

The photograph presented by the heads of the Ice Agency in the presence of the Minister of Foreign Affairs and International Cooperation Luigi Di Maio, the Undersecretary Manlio Di Stefano and the President of Istat Gian Carlo Blangiardo

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In 2019, Italian exports recorded a 2.3% growth and the trade balance showed a positive balance of 53 billion euros. In 2020, Italian exports will experience a sharp slowdown and will close the year down by 12%, at constant prices, to then grow by 7.4% in 2021 and 5.2% in 2022, year on year. And the recovery of world trade in 2021 will be led by the aggregate of Emerging Asia, China in the lead.

The precise photograph of the state of health of Italian exports comes from the XXXIV edition of the Foreign Trade Report “Italy in the international economy” produced by the Ice Agency in collaboration with Prometeia, Istat, Masi Foundation, Bocconi University and Milan Polytechnic and presented, at the headquarters of the ICE, in the presence of the Minister of Foreign Affairs and International Cooperation, Luigi Di Maio, the Undersecretary for Foreign Affairs and International Cooperation, Manlio Di Stefano, the President of Istat Gian Carlo Blangiardo and the Ice number one, Carlo Ferro.

Ferro: in 2019 excellent state of health for Italian exports

«The final figures confirm that in 2019 Italian exports enjoyed an excellent state of health. It had ended the year with a growth of 2.3% reaching 476 billion euros and keeping its market share on world trade stable at 2.84%. An important result because it was obtained in a turbulent period on world markets, particularly for European countries, tight in the US-China trade dispute, pressed by American tariffs on many goods exported from Europe and confused in the uncertainty about Brexit times and terms » , explained the president of Ice Ferro.

Towing the pharmaceutical industry

The growth concerned, in particular, the pharmaceutical sector (+ 25.6%), drinks (+ 6.8%), products of the fashion system (+ 6.2%), metallurgy(+ 5.3%). Foreign sales of machinery and mechanical devices have not grown (-0.5%) but the sector continues to contribute more than 50 billion euros to the formation of the commercial surplus and “pays” the Italian energy bill (-42 billion euros ). From the market point of view, moreover, growth mainly concerned Japan (+ 19.7%) also thanks to the free trade agreement with the European Union in force since February 2019 and Switzerland (+ 16.6% ), international sorting hub. Italian exports also increased to the United States (+ 7.5%), despite the duties imposed at the end of 2019 on some categories of goods, for which ICE immediately made available an extraordinary support plan.

Tuscany and Lazio mark the most sustained growth

Among the Italian regions, the strongest growth was recorded in Tuscany (+ 15.6%) and Lazio (+ 15.3%); immediately afterwards come Molise (+ 11.7%) Puglia (+ 9.1%) and Campania (+ 8.1%). While Germany (12.2% of total Italian exports), France (10.5%) and the United States (9.6%) remained the top three outlet markets. Machinery (17.2%), fashion (11.9%) and the agro-food chain (9.1%) are the three sectors that contribute most to our exports. And Lombardy (27%), Emilia-Romagna (14.1%) and Veneto (13.7%) are the three regions that export the most.

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