As indicated by Intesa Sanpaolo, China's trade with the rest of the world in 2013 reached 4159 billion dollars (+7,6% compared to the previous year), in a context where exports (2209 billion, +7,8%) are higher than imports (1950 billion, +7,2%). The still provisional data relating to 2014 show a growth in trade limited to 3,5%. And if the level of imports turns out to be substantially unchanged, exports marked an increase of 6%. Commercial exchanges, carried out mainly with Asian (57%) and American (20%) markets, in particular the USA (13%), Hong Kong (10%), Japan (8%), South Korea (7%), have seen in 2013 a general increase by HK and Korea. Europe supplies and purchases just under a fifth of the total traded, where Italy ranks 26th among the major suppliers and 22nd among customers, with a share of around 1%.
If we offer a look at the merchandise retail, let's see how in 2013 the imports of machinery (37%), minerals (24%) prevailed, chemicals (7%), various goods (6%), means of transport and agri-food products (both with 5%). Important exports include machinery (46%), textile and clothing products (17%), metals (7%), means of transport (5%), chemical products (5%) and stones, glass and ceramics (4%). The net balance is positive for machinery, textiles and clothing, furniture, stone, glass and ceramics, metals; it is instead negative for minerals, chemical products, agro-food products, various goods, rubber and plastic, wood and paper.
In this scenario, the stock of foreign direct investment (FDI) in China in 2013 was 957 billion, or about 10,3% of GDP. The major investors in 2012 were Asians, although many of them are only transit countries. Italy ranks 23rd. The main target sectors are those relating to manufacturing, real estate, commerce, leasing and transport. The Italian Ministry of Foreign Affairs (MAE) detects various opportunities in the food, mechanical, logistics and distribution, healthcare and pharmaceuticals, furniture sectors.
Italian exports in 2013 amounted to 9,8 billion euros (+9,4% compared to the previous year), while imports amounted to 23,1 billion, down 7,7%. The data for the first ten months of 2014 show a partial recovery of imports (+6,95%) to 21,2 billion, while exports showed an annual increase of 6,3%, to 8,65 billion. The share of trade with China on the overall Italian total was 2013% in 4,4, while in the first ten months of 2014 this percentage rose to over 4,7%. The net balance by category highlights a surplus for Italy in mining, food, pharmaceuticals, refined petroleum products, mechanical machinery, means of transport and other manufacturing activities, while there is a deficit for agricultural products, textiles and clothing, wood, paper and printing, chemicals, rubber and plastics, metals, computers and electronic, optical and electrical appliances, various goods. Italy mainly imports textile and clothing products, electronic devices and computers, electrical appliances, mechanical machinery and various manufactured articles. Exports consist of mechanical machinery, textile and clothing products, means of transport, various manufactured goods, chemical products. The Chinese share of the total Italian sector is significant both in terms of imports and exports for numerous product categories and it should not be forgotten that there are also sectors for which Italian industry represents an important supplier or customer for China.
For example, among imports, the weight of electronic devices and computers grew, going from around 12% of the total imported in 2008 to 17% in 2013, as did the share of electrical appliances which reached almost 20% from 16% , and that of mechanical machinery, which rose to 11% from 9%. Instead, the weight of textiles and clothing decreased slightly, from 24% to 22%. A decline was also seen in various manufactured goods, which fell from 23% to 20%. Direct exports of mechanical machinery to China have in turn seen the share of the total exported sector grow, going from just under 4% to 5%. The sector of textile and clothing products saw an increase in weight from 1,7% to 3,2%. The share of means of transport also increased, rising to over 2% from the previous 0,6%, as did that of various manufactured goods (2,8% against 1,2% in 2008). The weight of the chemical products remained substantially unchanged. Italy imported from China in 2013 about 556 million euros of agro-food products (equal to 2,4% of the total imported), while exports amounted to almost 342 million (with a share of 3,5%) . While among imports, agricultural products (285 million) prevail, albeit slightly, compared to food products (270 million), among exports, however, Italian food specialties are clearly higher (297 million).
The data relating to the first ten months of 2014 show a contraction in imports from the agro-food sector of 4,3% (446 million), while exports grew by 1,8% compared to the previous year (291 million ). The import of agricultural products suffered a drop of about 1%, that of food products saw a correction of almost 8%. Food exports, on the other hand, grew by over 2%, against a 1% drop in agricultural exports. The main import classes include various animals, fish, crustaceans and molluscs, cereals, other fruit and vegetable processing products, while exports highlight cocoa and its processed products, wines, oils and fats, processed meats and preserves, rusks and biscuits, pastry products. Le Italian regions most interested in the export of agro-food products to China are Piedmont, Emilia Romagna, Veneto, Lombardy and Tuscany.
