Foreign trade, the Italian agri-food sector holds

Published 2021년 7월 26일

Tridge summary

In 2020, despite the Covid-19 pandemic and economic crisis, Italy's agri-food sector saw a positive balance in foreign trade, with an increase in exports and a decrease in imports. The sector's imports fell by 4.7%, much less than total imports, and exports rose by 1.3%, reaching close to 45 billion euros. The EU continues to be the primary market for Italian agri-food exports, with North America and Asia following. Despite the pandemic, sales to main customers like Germany, the US, the UK, and Switzerland increased in value. However, the impact of the pandemic on regional exchanges was varied, with some regions experiencing a decline in exports while others, mainly in the south, saw a positive trend.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Even in a year marked by the Covid-19 pandemic and the consequent economic crisis, the Italian agri-food sector, compared to other sectors, holds on to foreign markets. In 2020, on the one hand, agri-food imports (42.3 billion euros) recorded a decline of 4.7%, much more contained than that of total imports (-12.8%); on the other hand, agri-food exports even recorded an increase of 1.3% (for the first time close to 45 billion euros), although with very different trends in terms of products. After the breakeven reached in 2019, therefore, the agri-food balance becomes positive (+2.6 billion euros): the change in sign is an absolutely significant result, considering that five years ago the balance deficit reached 5 billion. The reduction in imports could be an alarm bell for the supply of raw materials for our processing industry, but fortunately the negative sign is modest overall. On the other hand, the positive result of our exports in such a difficult year for the global economy ...

Source: Myfruit