The updates of the SACE surveys show us how in May the Italian export of goods made strong progress (+8% compared to the same month in 2018), thanks above all to the contribution of the pharmaceutical and leather goods sectors: the value of Made in Italy in the first five months of the year thus increased by 4%, a better performance than that of Germany and Spain (both growing by approximately 2%). However, in June exports recorded a contraction (-3,5% compared to last year), mainly due to the decline in sales of capital goods, in particular means of transport. However, the slight drop in exported volumes (-0,9%) was more than offset by the increase in average unit values (+3,6%).
In the EU area, the so-called pre-Brexit “stock effect” continues to support sales to London (+12,1%). Germany is also advancing (+2,7%), whereas Poland and France are down, where the decline in exports of means of transport weighs heavily. In the non-EU area, the best commercial partners are Switzerland (+14,9%), USA (+8,1%) and India (+5,1%), while they remain stable in China (+0,3 %) and Russia (+0,4%). Excellent result also in Sub-Saharan Africa (+6,2%), while the decline continues in Opec countries (-10,5%).
At the same time, sales to Japan continue to travel at a sustained pace (+17,3% in the semester and +27,9% in June alone): the effects of the trade partnership agreement between the EU and the Asian country (effective February 1, 2019) seem to be starting to show themselves clearly. India continues to guarantee excellent business opportunities for our exporters (+7,9%): the positive trend is rather generalized at the sector level, led by metals, instrumental mechanics and pharmaceuticals. The latter sector, together with the fashion and food sectors, are driving direct sales to the transalpine market. On the other hand, exports to Mercosur decreased (-7,5%), reflecting the weak economic situation in the two main markets of the region (Argentina and Brazil).
Consumer goods continue to support Made in Italy sales abroad (+10%), thanks in particular to non-durable goods (+11,9%), which include the pharmaceutical sector. On the other hand, the increase in exports of durable consumer goods was more contained (+2%). While remaining the group with the slowest dynamics (with the exception of instrumental mechanics), the export of instrumental goods stands at +0,8% in the first five months of the year, with the particularly positive trend recorded in May (+3% in trend terms). Lastly, the export of intermediate goods advanced by 2,5%.
The trend in the fashion sector was very good, thanks in particular to the contribution of the export of clothing and leather and accessories. Exports of textiles and clothing (+8,4%) remain supported mainly by non-EU countries: Switzerland (especially as regards leather goods), China, Japan and the USA. The latter, with a +16,8%, are also driving sales
of instrumental mechanics (+2,5%); Russia, India and ASEAN countries are also advancing at a rapid pace. On the other hand, furniture sales are substantially stable but with significant exceptions in Asian markets where Made in Italy design is well appreciated (China, Japan and India). Lastly, pharmaceuticals is confirmed as the best sector (+27%) with a generalized positive trend and peaks in Russia and the USA. The latter also drive sales of food and beverages (+6,9% overall), together with Japan.
