in this first nine months of 2024, industrial districts of Piedmontthey have achieved a very respectable result: 9,6 billion euros in exports, up 1,8% compared to the same period of the previous year, equal to 167 million euros more. Despite the global economic picture marked by uncertainties, the regional districts have recorded increases quarter after quarter: +1,1%, +1,5% and +2,6%, proving to be more resilient than the total saving (-3,7%) and others manufacturing (-3,5%). Even in comparison with the average of Italian districts, which stopped at an increase of 0,6%, the Piedmont districts confirm their position of strength. This is what emerges from the Monitor of the Districts of Piedmont, curated by the research department of Understanding St. Paul.
The growth was driven by both mature markets (+1,8%), with protagonists such as United States, Germany, Kingdom Unito e France, both the new markets (+1,7%), thanks to the push of Hong Kong ed United Arab Emirates. The France confirms itself as the first reference market for Piedmont exports, with a share of 13% and an increase of 0,9%. However, there have been some setbacks, with significant contractions towards Switzerland, China e Belgium, who each lost more than 20 million euros.
Sectors: lights and shadows in the Piedmont districts
Il sector agri-food was the driving force of growth, with an increase in exports of 5,7% in the first nine months of 2024, supported by a demand less sensitive to economic fluctuations. Among the absolute protagonists, the district of Sweets from Alba and Cuneo recorded an incredible growth of 18,6%, equal to +234 million euros, the best result among all the Piedmont districts. The district of Coffee, confectionery and Turin chocolate, which grew by 7,7% (+51,1 million euros).
Exports from the district are more stable Vercelli rice, which marked a slight decrease of 0,2%, for a reduction of less than 1 million euros. Slightly decreasing are the Langhe wines, Roero and Monferrato, with a decrease of 1,6% (-23,8 million euros). The decline was more marked, however, for the district of Nocciola e fruit piedmontese, which lost 16,1%, corresponding to a reduction of 36,9 million euros, due to reduced production and increased costs.
In the sector of mechanics, the results were diversified. The district of Industrial refrigerators of Casale Monferrato shone with an increase of 30,8%, equal to +71,5 million euros, while the district of Machine tools and industrial robots in Turin remained almost stable (-0,7%, equal to -5,2 million euros). On the contrary, the district of Taps and Cusio-Valsesia valves suffered a 4,1% drop (-48,5 million euros) and the district of Textile machinery of Biella recorded a significant decline of 19% (-17,2 million euros).
Il Piedmontese fashion system suffered a slight decline of 1,6%, dragged down by Biella Textile, which saw exports fall by 3% (-51,7 million euros). Despite the slowdown in the luxury supply chain and the drop in global consumption, the district managed to contain losses compared to other Italian textile districts. TheGoldsmith of Valencia, on the other hand, closed the period with a slight growth (+0,1%, equal to +1,3 million euros).
Among the smaller sectors, the Omegna Household District – the only representative of the home system – recorded a decline of 14,5%, corresponding to a loss of 7,3 million euros.
The lights and shadows are also reflected in the technological hubs. The Aerospace pole of Piedmont recorded an increase in exports of 6,3%, with a growth in value of 60 million euros, while the Turin ICT hub suffered a contraction of 7,7%, for a reduction of 53 million euros.
Comments
Stefano Chaplains, regional director of Piedmont North, Valle d'Aosta and Sardinia of Intesa Sanpaolo, commented optimistically: “Even in the last part of the year we have witnessed the resilience and good capacity to react of the Piedmont districts. Our manufacturing is holding up, demonstrating flexibility and the ability to diversify. As Intesa Sanpaolo, we remain alongside companies to support investments in sustainability, digitalization, international development and Transition 5.0. We have made 10 billion euros available with the program “Your future is our business”, of which 660 million have already been allocated to ESG projects through lines such as S-Loan and Circular Economy”.
2025 could mark a turning point, according to analysts at Intesa Sanpaolo's Research Department: the progressive reduction of inflation and interest rates, especially in Europe, could bring the districts back to more uniform and widespread growth, consolidating Piedmont's role as an economic and industrial engine.
