In the first 9 months of 2023 exports from the Piedmont districts they almost reached 9,5 billion euros, with an increase of 422 million euros (+4,7%) compared to the same period of 2022. This is what emerges from Monitor of the Districts of Piedmont, edited by the Studies and Research Directorate of Intesa San Paolo.
Piedmont districts: third quarter down
Dopo un first quarter in which the districts of Piedmont recorded double-digit growth (+11,8%) and a second quarter of smaller increase (+3,5%), the third quarter marked a slight contraction (-0,5%). “The data expresses a physiological setback, which is affected above all by the slowdown in international demand”, explains Intesa, underlining however that Piedmont districts have exceeded the growth average of Italian districts, both in the first nine months (+4,7% vs +0,4%) and in the third quarter alone (-0,5% vs -3,7%), thanks to production specialization and a strong competitive capacity, capable of mitigating the effects of the cooling of world trade.
Piedmont: 8 out of 12 districts grew in the nine months
The data of exports for the first nine months of 2023, measured at current prices, highlight a positive trend in the Piedmontese districts for all sectors of specialization: fashion (+ 9,1%), mechanics (+ 4,1%) and agro-food (+ 2%).
From the analysis by individual district, a positive picture emerges: in the first nine months of 2023 they are in growth in 8 out of 12 districts. The exceptions are the small district of Housewares of Omegna, Hazelnuts and Piedmontese fruit, Taps and valves of Cusio-Valsesia and Wines of Langhe, Roero and Monferrato. However, Vercelli Rice (+29,1%), Turin Machine Tools and Industrial Robots (+24,1%) and Biella Textile Machinery (+15,5%) stood out for double-digit growth. %).
“The trend of Piedmontese district exports to new markets is excellent (+9,4%)”, we read in the report. I'm the one towing China, Türkiye, Mexico, Saudi Arabia and Romania. Exports to mature markets were also good (+2,5%), with Ireland, the United Kingdom and France in the lead.
The technological hubs
Overall, the two Piedmontese technological centers closed the period January-September 2023 with exports decreasing by 218 million (-11,7%), but with very different trends from each other.
For Turin ICT hub exports in the first nine months of 2023 increased by 11,9%, for a total amount of 73 million euros, thanks to a good result in all quarters: +17,1% in the first, +13,6 % in the second and +5,2% in the third.
For Aerospace pole of PiedmontHowever, exports in the first nine months of 2023 were down by 23,3%, to 291 million euros. The quarters had very different trends: -62,9% in the first, +72,9% in the second and -58,4% in the third, according to a fluctuating trend typical of a sector conditioned by large orders.
Stefano Cappellari, regional director of Northern Piedmont, Aosta Valley and Sardinia of Intesa Sanpaolo, comments: “The competitive capacity of the Piedmontese districts also emerges in a quarter of general slowdown in exports. For our part, we continue to stimulate business investments, accompanying them towards available opportunities, such as the PNRR tenders and financing with even twenty-year guarantees agreed with SACE. The typical supply chain organization of our Region is able, among other things, to also facilitate small companies in accessing credit".
