Tariffs, alternative routes for Italian exports? Poland, Austria and Belgium

"However, the available data offer a precise map of the mitigation strategies that companies and territories can activate to face this challenge," adds Vigo. Starting with market diversification, which the Report itself suggests: countries such as Spain, Belgium, Poland and the Netherlands emerge as established markets that are growing above average. Among the non-European countries, we highlight the strong growth of Turkey in the period under consideration (+16%).

The geography of Italian exports therefore remains strongly concentrated in the old continent of Europe, with Germany as the first recipient and France as a synergic and complementary partner. "However, the challenge, and at the same time the great opportunity, is to broaden the map of markets, strengthening our presence in high-potential areas such as Eastern Europe and the emerging markets of Asia and Africa," notes Vigo, who indicates other actions to be taken to contain the impact of US tariffs: repositioning production chains by orienting production towards segments that are more in demand by European partners and strengthening our presence in countries with stable trade regulations and long-standing relations; investing in digitalisation and e-commerce; enhancing sustainability and the Made in Italy brand; building alliances and partnerships.

The Report then dwells on the analysis of the industrial sectors and territories with the greatest foreign vocation, identifying for each the markets with the greatest potential growth. Mechanics and machinery, the leading sector in terms of exports, with a value close to EUR 100 billion in 2024, see France and the Netherlands as the most interesting destinations towards which to diversify. Pharmaceuticals, with EUR 53 billion of exports, has a strong propensity towards the USA, but growing potential towards Belgium, the Netherlands and Switzerland. Agro-foods exports EUR 46 billion and can find interesting outlets in markets such as Poland and Austria.

As far as territories are concerned, Lombardy and Emilia Romagna are the top two regions in terms of export value (164 billion euros and 83.6 billion respectively in 2024), but also in terms of exposure to the US market. Data processed by SevenData says that Lombardy should look for alternative outlets by consolidating relations with strategic partners such as France and Belgium for mechanics and chemicals, while Switzerland offers opportunities in pharmaceuticals. Emilia-Romagna should instead focus on France, Spain and Austria as alternative markets.