Despite the adverse international context, Italian exports resist, giving an important boost to the Italian economy. This is the opinion of Matteo Zoppas, president of the Agency for the Internationalization of Italian firms, at the last Made in Italy Summit 2024, an event organized by Il Sole 24 Ore along with SkyTg24 and the Financial Times. According to Zoppas, Italian exports grew from 480€ billion in 2019 to 625€ billion in 2023, while this positive outlook remains for the end of this year as well.
A big share of Italian exports belongs to pharmaceuticals. In fact, in the last 10 years, this sector in Italy has grown by 150%, surpassing other European powers like Spain, Germany and France. In the first six months of 2024, Italian pharmaceutical exports amounted to 25€ billion, making up 8.5% of all manufacturing exports from Italy. Moreover, giants like Johnson&Johnson and Novartis have announced big investments in the peninsula, while big local firms like Menarini and Italfarmaco continue to make important investments abroad. Besides pharmaceuticals, Italian exports comprised mechanical instruments and electrical devices (like motors and generators), among others.
At the same Made in Italy Summit, Corrado Passera, founder and delegated manager of the bank Illimity, underscored the importance of the banking sector for the economy and the need for European-wide banking, underlining the strength of Italian banks to engage in that project. This in light of the so-called “Draghi report”, in which the former Italian central banker focused on the need for radical reforms in European firms to improve their competitiveness.
A boost to Italian exports is given by Assocamerestero, the Association of the Italian Chambers of Commerce that helps Italian firms do business in foreign countries through specialized support. This support is not limited to the initial phase of entering a new market, but is also present in the following ones of growth and consolidation, says Mario Pozza, president of the Association.
Author: Luis Cabezas
Photo: Freepik