In the second quarter of 2020, a sharp reduction in April exports triggered a net contraction in Italian foreign trade. Estimates show a decline across all macro-regions: -28.2% for the South and Islands, -26.6% for the North-west, -23.2% for the North-east, and -23.1% for the Center.
The period from January to June 2020 recorded a marked annual decrease in exports. The Islands suffered the hardest blow (-20.4%), followed by the North-west (-16.1%), the Center (-15.3%), the North-east (-14.3%), and the South (-13.4%). This downward trend affected almost all Italian regions, with wider contractions in Basilicata (-36.8%), Sardinia (-35.3%), and Valle d’Aosta (-31.0%). Furthermore, the negative results of Piedmont (-21.2%), Lombardy (-15.3%), Veneto (-14.6%), and Emilia-Romagna (-14.2%) largely explain the overall decline in national exports. Conversely, only Molise (+30.2%) and Liguria (+3.7%) bucked the trend, recording positive export growth compared to the same period in 2019.
During the same period, declining sales of machinery and equipment from Lombardy, Emilia-Romagna, Veneto, and Piedmont significantly dragged down national performance. Together with lower sales of base metals and metal products from Lombardy, these sectors shaved 3.5 percentage points off national exports. On the positive side, a 1.5% increase in sales of base metals from Tuscany helped counter the decline. Additionally, strong sales of pharmaceutical, chemical-medicinal, and botanical items from Lombardy, Veneto, Tuscany, Marche, and Emilia-Romagna provided a welcome boost.
In the first six months of 2020, lower sales from key regions drove the drop in national exports to core target markets. Sales from Piedmont (-18.8%) and Lombardy (-16.5%) to Germany fell sharply. Exports from Lazio (-39.9%) and Piedmont (-22.7%) to the United States also plummeted. Finally, exports to France dropped due to weaker performance from Piedmont (-22.1%), Lombardy (-17.8%), Veneto (-17.2%), and Emilia-Romagna (-15.9%).
A provincial analysis confirms negative performances across most of the country. Among the worst-performing provinces we find Milan, Turin, Florence, Brescia, Vicenza, and Bergamo. In contrast, Arezzo, Rovigo, and Genoa achieved the best results. The following national economic indicators provide a clear snapshot of this complex situation.
