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Export Made in Italy: Food leads the recovery

Export Made in Italy: Food leads the recovery

However, there is good news: we are approaching recovery. This is why in recent weeks we have presented you with the numerous opportunities that are presenting themselves to medium and small businesses, such as Digital Export or the internationalization voucher.

Of course, the damage caused by the pandemic will not be erased quickly, but the forecasts of the latest ICE – Prometeia Report outline a path that leaves no room for uncertainty: in 2021 a restart of international trade of +7.6% compared to last year, with a further growth of +5.3% in 2022.

But what is behind this recovery? Made in Italy exports, which in the post-Covid period will increasingly look to Asia as well as Europe, driven by one sector in particular. Today we present to you another opportunity ready to be seized: that of the Food sector.

 

Food is the locomotive

According to the XVIII ICE – Prometeia Report, “a return to essentials and healthy aspects will favor the Food sector in Made in Italy (+8.5%) compared to the Fashion System (+6.7%), more linked to sociality. The health aspects of consumption, for example, will be rewarding even after the health crisis is over, keeping the agri-food chain among the most attractive."

Furthermore, the Food sector is the sector that has shown the greatest growth in the digital sector. Exports via digital channels have in fact grown by +46% from 2019 to 2020, for a value of 1.9 billion euros: well the 14% of Italian digital export.

 

Global demand is growing fast

Exports to i Asian countries are those that will have the most significant rebound: the emerging Asian countries will import from Italy for a value of8.9% higher to 2020, while the more mature countries, such as Japan, will import from Italy with an increase in8,4%. The Americas also seem ready to receive Italian products in greater quantities: in 2021 North America will register a +7,9%, while theLatin America a +7%.

 

The free trade agreement in Asia and the advantages for Italian exports

On the Asian continent, the survey also finds, the year of the pandemic was also the year of the largest free trade agreement ever signed, an agreement that can change the competitive balance in one of the areas with the greatest prospective potential (the signatory countries already absorb 8% of Italian exports). With a contribution to world trade of 9,300 billion euros and with over 2.2 billion people involved, the 15 signatories of the RCEP (Regional Comprehensive Economic Partnership) agreement have laid the foundations for an agreement which, from a commercial point of view , looks above all at medium-term impacts. For Italy these are markets worth a total of 39 billion euros (8% of its exports) and whose coverage remains fundamental for the recovery in the coming years. Already in 2021 for example the growth in imports of these countries will be at least two points higher than that expected for the average of world trade.

With our expert teams directly present in these areas, we at Octagona we are able to open the right path for you, seizing market opportunities and thus supporting the growth of your business.

With direct offices in India, Vietnam, Brazil, 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 over 750 projects of internationalization.

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