We are European Champions, even in trade, in as many as 830 out of 5,388 products. This figure, noted in a July 9 article by Luca Orlando in Il Sole 24 ore, and compiled by the Edison Foundation, testifies to the strength of Italian exports in Europe.
Through an analysis and reclassification of the 5,388 codes into which international trade is divided, it emerges how Italy is, in various situations, ahead of the United Kingdom, Germany, France and Spain thanks to a surplus balance of $140 billion.
The trade surplus is generated mainly through jewelry, leather bags, valves, faucets, tiles, glasses, shoes, boats, tiles, machinery, pasta, coffee and chocolate, car components, and much more. Let's look at the Top 3 in detail:
The largest positive balance is in jewelry, with the Alexandria, Vicenza and Arezzo districts to generate assets of five billion. Absolute value, however, which is affected by the prices of the raw material, gold, which is subject to wide fluctuations.
Ranking third in terms of positive balance is the large area of faucets and valves, with the Piedmont and Lombard districts to shred international competition, especially thanks to the provinces of Novara, Verbano-Cusio-Ossola and Vercelli, Brescia and Bergamo.
Another strong point is packaging, especially packaging machinery, where Emilia Romagna is a world leader: Italy has assets of 2.6 billion, which rises to close to four billion with plants for the beverages area, another European leading sector. In this case, Octagona can say that it has seen it coming: back in May, we spoke about the extraordinary opportunities for Italian packaging in countries such as the United States, which has been exporting at a fast pace in recent years.
Read the full report on the packaging industry in the U.S. by clicking here!
All this without forgetting the agribusiness and Food sector in general, which we have presented to you in recent weeks.
In fact, as Octagona reported in recent weeks, food is the sector that has shown the most growth in digital. In fact, exports through digital channels have grown by the +46% 2019 to 2020, amounting to 1.9 billion: well the 14% of Italian digital export.
Click here To read the full in-depth report on the Food sector!
As for agribusiness specifically, however, cured meats, cheeses, and wines have shown the most growth over the past 5 years, being appreciated all over Europe and thus becoming the symbol of Italianness abroad. In fact, the total value of salumi exports amounts to 2.2 billion euros, an increase of +31,57% between 2016 and 2020. That of cheese, on the other hand, is as much as 11.2 billion euros in total, an increase of +33,77%; finally, wines is the largest market (18 billion euros between 2016 and 2020), again registering double-digit growth +11,38%.
Click here To read the full in-depth article on Agribusiness!
If right now you are wondering if it is worth exporting your products then the answer is right in the numbers you just read. Italian excellence receives maximum interest and enables our companies to generate, through foreign markets, additional sales and profits.
Being competitive in international markets is possible thanks to the confidence that every Italian entrepreneur must have in their products and in their own capabilities but also thanks to the skills and experience of companies like Octagona that are able to accompany the international growth of their clients.
With our teams of experts present directly in these areas, we at Octagona we are able to open the right path for you, seizing market opportunities and thereby supporting the growth of your business.
With direct offices in India, Vietnam, Brazil, and the USA and with local partnerships throughout the rest of the world, Octagona is in fact one of the leading companies in International Advisory and among the top 5 in Italy: in almost 20 years we have successfully worked on more than 750 projects of internationalization.
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Italy is the European champion in 830 products out of 5,388 codes of international trade. This data comes from the analysis of the Edison Foundation, as reported by Il Sole 24 Ore, and shows that Italy often ranks ahead of the United Kingdom, Germany, France and Spain, with a current account surplus of 140 billion dollars.
Italy’s trade surplus stems primarily from jewelry, leather bags, valves, faucets, tiles, eyeglasses, footwear, boats, machinery, pasta, coffee, chocolate, and auto parts. The largest positive balance is in jewelry, followed by packaging. Third place is held by plumbing and valve manufacturing, with the Piedmont and Lombardy regions in the lead.
The Italian active balance in packaging machinery is $2.6 billion and rises to nearly four billion including the beverage plants. Emilia Romagna is the world leader in the sector. The United States also represents a great opportunity market for Italian packaging.
Food exports via digital channels grew by 46% from 2019 to 2020, reaching a value of 1.9 billion euros. This figure represents 14% of Italy’s digital exports and makes Food the sector with the highest growth in the digital sector.
Between 2016 and 2020, cheese exports increased by 33.77%, totaling 11.2 billion euros. Salumi grew by 31.57%, for 2.2 billion euros. Wine is the largest market, with 18 billion euros and a double-digit increase of 11.38%.
Exporting makes sense because Italian excellence receives strong interest abroad and generates additional revenue and profits. To access foreign markets, a partner in International Advisory like Octagona is useful, with direct offices in India, Vietnam, Brazil and the USA and over 750 internationalization projects in almost 20 years.
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