growth of 44% in the second quarter – Informazioneonline.it

growth of 44% in the second quarter – Informazioneonline.it
growth of 44% in the second quarter – Informazioneonline.it
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The export levels of Lombard companies remained high also in the second quarter, despite the problems linked to the increase in the prices of energy and materials and the difficulties for some supplies.

The region’s contribution to national exports remains prevalent, Lombardy’s performance is worth a good 5.5 percentage points of the growth recorded at the national level (+ 22.2% tendentially).

COMPARED TO THE PREVIOUS QUARTER + 10.2%

Foreign demand shows some signs of slowing down, but Lombard exports nevertheless grew by + 10.2% compared to the previous quarter, thanks also to the push in constantly increasing prices, reaching a value of 42.3 billion euros. The comparison with the second quarter of 2021 (pre-crisis values) is largely positive (+ 20.7%).

ECONOMIC DEVELOPMENT COUNCILOR: IMPORTANT DATA BUT SLOWING DOWN SIGNS

“After the historical record reached last year – said Guido Guidesi councilor for economic development of the Lombardy Region – the Lombard numbers on exports remain important even if there are clear signs of slowdown caused by the cost of energy and raw materials. Urgent measures by the European Union are fundamental and can no longer be postponed; there is a risk of seriously compromising the future of companies and the work of one of the economic engines of Europe because our companies start out at a disadvantage in global competition given that the cost of energy in Italy is at least four times that of other countries. In these conditions we risk losing market share in an irregular and unfair context to our disadvantage ».

GIAN DOMENICO AURICCHIO (PRESIDENT UNIONCAMERE LOMBARDIA): ABILITY TO COMPETE IN FOREIGN MARKETS

«Even if the increase in prices pushes the value of our exports – commented the president of Unioncamere Lombardia, Gian Domenico Auricchio – the ability of Lombard companies to compete on international markets despite the worsening economic conditions is always very strong. The outlet on foreign countries remains decisive also in view of the difficulties that we are already facing on the internal market and which could worsen in the near future, leading to contractions in demand ».

EXPORTED PRODUCTS

The sector related to base metals and metal products remains the main driver of the growth of Lombard exports (+ 30.7% yoy) with positive effects on the performance of most of the provinces. Double-digit trend increases were also recorded for the export value of the remaining product categories, with the exception of machinery and equipment which stopped at + 6.4%, however contributing significantly to the overall growth. Only the means of transport were negative (-2.6% yoy).

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MARKETS OF DESTINATION

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Considering the geographic areas of destination of Lombard goods, generalized increases are recorded. The flows of goods to the countries of the European Union 27 make the greatest positive contributions, therefore excluding the United Kingdom, (+ 23.8% yoy), North America (+ 34.4%) and non-EU European countries (+ 13.9%), including the United Kingdom. Less intense but significant the contribution from Central and South America (+ 24.3%) and the Middle East (+ 15.5%). EU countries account for more than half of the Lombard trend increase (12.8 percentage points).

The flows of Lombard goods are growing in particular towards the main European destinations: + 30.5% Spain, + 25.1% Germany and + 20.7% France. Among the non-EU-27 destinations there are the greatest increases towards Mexico (+ 41.6%), the United States (+ 36%), South Korea (+ 32.7%), Switzerland (+27, 8%), India (26.7%), the United Arab Emirates (+ 23.6%), Turkey (+ 21.8%) and Canada (+ 21.3%).

Considering the main countries for the various geographical areas, some negative data are found: in fact, exports to China (-4.6%), Hong Kong (-11.6%), Egypt (-9%) and Algeria are decreasing (-3.5%). Finally, the effect of the increase in sanctions applied to the Russian Federation recorded a 27.1% contraction in Lombard exports to Russia.

EXPORT: PROVINCIAL PERFORMANCES

The two-digit trend increase affects all the Lombard provinces. The export of base metals and metal products is decisive for the provinces of Brescia (+ 31%), Cremona (+ 34%), Lecco (+ 28%), Monza and Brianza (+ 25%), Mantua (+ 30%), Sondrio (+ 50%). Textile products, clothing, leather and accessories give the greatest positive contribution to exports of Como (+ 42%), Milan (+ 25%) and Varese (+ 44%). Chemical substances and products are of particular importance for the Pavia result (+ 66%). For Bergamo, the largest contributions of an equivalent level come from chemical substances and products (+ 24%) and from base metals and metal products (+ 27%). Lodi remains specialized in the export of computers and electronic equipment, which recorded an increase in exports of 67%.

IMPORT AND BALANCE OF THE TRADE BALANCE

Imports from Lombardy still show a trend increase (+ 27%) and even compared to the previous quarter the growth is significant (+ 3.7%). The greater increase in exports compared to imports determines an improvement in the trade deficit for the quarter, now at -5.6 billion euros, compared to -7.9 billion euros in the previous quarter.


The article is in Italian

Tags: growth quarter Informazioneonline .it

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