All the positive signs for Italian exports
What the Istat data and the report of the Italian-German Chamber of Commerce show on Italian exports
About a year after the start of the Covid-19 pandemic , the first signs of recovery for Italian exports are detected. The data published today by Istat indicate that in the November 2020-January 2021 quarter , exports grew by 2.4% compared to the previous three months. The sales of intermediate goods account for about two thirds. In the same period, Istat also recorded a 3.4% increase in imports.
The drop in exports compared to 2020
If you look at last year, however, the figures are much less encouraging. Compared to January 2020, imports fell by 11.6% (from -1.7% in December of last year), mainly due to the collapse in purchases from the non-EU area (-18.3%). The countries that contribute most to the decline in exports are the United States (-20.6%), the United Kingdom (-37.4%), France (-7.0%) and OPEC countries (-17.4%). %). Only sales to China (+ 29.2%), Poland (+ 5.8%), Germany (+ 0.9%) and MERCOSUR countries (+ 8.2%) are growing.
Sectors in decline
The sectors most affected by the decline in exports are clothing (-23.1%), refined petroleum products (-36.5%), leather goods, excluding clothing, and the like (-17.1%). %), pharmaceutical, chemical-medicinal and botanical articles (-9.0%) and food products, beverages and tobacco (-7.2%).
The growing sectors
On the other hand, exports of motor vehicles (+ 6.5%), electrical appliances (+ 5.3%), agricultural products (+ 8.4%) and computers, electronic and optical devices (+0) grow. , 8%).
The trade balance
In January 2021, the trade balance is estimated to be positive for 1,587 million euros , with an increase of 1,053 million compared to January last year. Net of energy products, the balance is +3,914 million euros (it was +4,054 million in January 2020).
Italy and Germany: an uninterrupted commercial dialogue
Italy and Germany, even in the year of the pandemic, have never cut off the trade dialogue . Of course, the pandemic weighs on the Italian-German trade which is reduced to 116 billion in 2020 from 127 billion in 2019 . A drop of 8.7% mainly due to the sharp drop in imports from Germany, which fell to 60.3 billion (-12.1% compared to 2019). On the other hand, the decline in Italian exports to Germany, which reached 55.7 billion (- 4.8%), was more contained.
Boom in the steel industry
Il Sole 24 ore reports that the agri-food sector (+ 5.7%) and the chemical-pharmaceutical sector (+ 0.9%) have seen an increase in Italian exports to Germany. The real boom, however, was in the steel sector , in which Italy exported 51.2% more than in 2019 (equal to 8.48 billion compared to 5.61 billion in 2019). The reason for this growth would be in the shortening of the value chains decided by German companies . “It seems that Italian companies have taken advantage of the redefinition of value chains,” said Jörg Buck , managing director of the Italian-German Chamber of Commerce (AHK Italien) who presented the 2020 trade report.
The food and chemical-pharmaceutical sectors are doing well
The increase in Italian exports to Germany in the food sector (+ 5.7%, from 5.61 to 5.93 billion euros) is linked to the lockdowns that have kept consumers more at home. Director Jörg Buck attributes the growth in the chemical-pharmaceutical sector (7.73 billion, + 0.9%) to the ability of Italian and German companies to operate “joint production”. “During the pandemic, the value chains linking Italy and Germany continued to fuel fundamental flows for both countries – said Jörg Buck -. The quality of the collaboration and supply relationships underlying the Italian-German joint production makes them difficult to replace. At the same time, however, the pandemic has shown that we need to be ready to quickly reshape supply chains . In this context, Italian and German companies must fully grasp the acceleration of corporate transformations that took place in the last year to restart together, remain indispensable for each other and keep up with international markets ".
AHK Italien's letter to the Italian government
Ahk Italien collaborates with around 2000 German companies operating in Italy, including Allianz, Bayer, Continental and Deutsche Bank. Ahk Italien is therefore one of the main drivers of trade flows with Germany which, with 130 billion euros, represents Italy's first commercial partner. The last week the Chamber of Commerce German-Italian sent to President Mario Draghi Council and the Ministers of Economy Daniel Franco, Education Patrizio Bianchi, Giancarlo Giorgetti of Economic Development and ecological transition Roberto Cingolani a detailed document on the priorities that should contain the Italian Recovery and Resilience Plan to be presented in Brussels.
The thud of the automotive sector
The automotive sector in the European market (EU, UK and EFTA) does not seem to have halted its fall: in February 2021 there were 850,170 registrations , in the same month of 2020 there were 1,066,172, with a decline of 20.3% . If we count the losses in the first two months of the year, the percentages worsen and the loss rises to -23.1% (1,693,059 units). The heaviest contractions concern Spain (-38.4%) and the United Kingdom (-35.5%), but the negative record is in Portugal (-59%).
Automotive sector: Italy floats
Ahk Italien, in the document sent to the Italian government, suggested supporting and encouraging sustainable mobility . Italy also recorded a decline in the car market , -12.3%, but showed a more limited decline than the large economies. Worse did Germany with -19% and France with -20.9%. "The sector looks with concern at the delays of the institutions in favoring the transition towards sustainable mobility," said Michele Crisci president of Unrae, the association of foreign car manufacturers.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/tutti-i-primi-segnali-positivi-per-lexport-italiano/ on Thu, 18 Mar 2021 14:36:18 +0000.