Lombardy's exports recovered, in the fourth quarter of 2011, the share in value lost during the second quarter, returning close to the pre-crisis peak. However, the pace of growth slowed down from +8,8%, on an annual basis, to +4,8% in the last quarter.
Compared to 2010, growth over twelve months stood at +10,8%. The value of exports settles at 26,8 billion euros, close to but still lower than the pre-crisis peak.
In terms of quantity, the market did not follow the same trend, recording weak growth (+0,6%).
The structure of exports has not undergone structural changes compared to recent years: manufacturing absorbs 97% of production for 26 billion euros, leaving the remainder to waste treatment and sanitation services, ITC services for a total 1,2%. Agriculture, forestry and fishing account for 0,3% while the extractive industry 0,1%.
In terms of value, the mechanical industry absorbs 59,7% of exports, while other products and the textile and leather industry account for 21,2% of the total. In third position, chemicals and pharmaceuticals, at 13,7%. The ranking is closed by rubber and plastic products (5,5%).
The predominant sectors recorded an increase in value: +10% for machinery, appliances of various kinds and computers, while the optical sector soars with a significant +11,1%.
This was not the case for the chemical sector and for the rubber and plastic materials industry: in these cases there is a decreasing trend of 3,3% and 2,4% respectively, for sectors less advantaged by economies of scale and subject to growing pressures on the side of production inputs and growing competition from the BRICS.
With regard to destinations, the downward trend (-11,9%) towards the African continent which began following the Arab Spring continues, in line with an average annual reduction of 4,6%.
Exports to European countries are still positive (+3,8%) which leads to an average annual growth of 12%.
The flow towards Asia (+9%) and the American continent (+8,6%) regains momentum, below an annual average of 11,7%. Oceania and the other territories recorded an increase of 44,7%, strongly accelerating also in an annual perspective: about 30% in 2011.
Globally, the predominant share of exports went to the intra-European market: 67,9% of the total for a value of 18,2 billion euros, while the Asian continent stably holds second place with 16% (4,3, 2,7 billion euros). In third position is the American continent (10,2 billion euros, 1,1% of the total), and in fourth place is Africa (4,3 billion euros, 1,6%). The remaining share is occupied by Oceania and other territories (430% and XNUMX million euros).
On an annual basis, the share of Lombard exports destined for Europe decreased from 70,7% at the beginning of the year to 67,9% in the fourth quarter, offset by a redistribution of flows towards America (+1,8%), Asia ( 1%), Oceania (1,6%).
Attachments: Export Lombardia_Focus4t11.pdf
