Made in Italy by record – Italian Export flies despite the global turbulence
2024 closes with extraordinary results for Italian exports. In an uncertain global economic environment, Italy has been able to confirm the strength of its companies on international markets, reaching record figures. According to data released by ISTAT, the trade balance surplus reached 54.9 billion euros, marking a significant jump from 34 billion in 2023.
The growth is even more surprising when one considers the recession that has hit Germany, Italy’s main trading partner. Despite the difficulties, the exchange of non-energy products reached 104.5 billion euros, confirming itself as one of the driving forces of Italian foreign trade.
Non-EU countries: Italy consolidates its global presence
In 2024, exports to non-EU 27 countries reached 305.4 billion euros, an increase of 1.2% compared to the previous year. This is the highest figure recorded in 30 years, with a trade balance with non-EU markets of almost 65 billion.
Export in slight decline, but key sectors resist
Overall, Italian exports have recorded a slight contraction of 0.4% compared to 2023. However, excluding the energy sector, there is a modest increase of 0.3%.
The slowdown was mainly driven by the decline in sectors such as:
Motor vehicles: -16.7%
Means of transport (excluding motor vehicles): -8.9%
Refined petroleum products: -15.4%
In contrast, some sectors showed significant growth:
Pharmaceuticals: +9.5%
Food, beverages and tobacco: +7.9%
Musical instruments, sports and medical articles: +19.6%
The words of ICE president: “Made in Italy faces global challenges”
Despite the difficulties in strategic sectors such as automotive and the decline of exports to Germany – which is worth about 70 billion of our export – Made in Italy has shown a remarkable capacity for resistance.
Particularly positive the data of December, with Italian exports to Europe growing by 1.4%. A sign that confirms the ability of Italian companies to adapt and find new outlets even in an economically complex Europe.
Made in Italy: competitiveness and resilience at the center of the global scene
2024, although marked by challenges and uncertainties, confirmed the strength of Italian exports. The diversification of markets and the drive in high added value sectors have allowed Italy to maintain a competitive position, strengthening the prestige of Made in Italy in the world.
The outlook for 2025 remains positive, with Italian companies ready to capitalize on their successes and face new challenges in international markets.
Cover : Unsplash