Regions hold their ground, trade surplus nears record levels
In the second quarter, the figure was -0.9 per cent, but the impact of the Arezzo-Turkey trade was a significant factor. The transport, metallurgy and food sectors performed well. The shock in the Middle East has been contained.
They are holding their own, despite everything. Despite international difficulties, the crisis in the Strait of Hormuz and the slowdown in investment, Italy’s regional districts ended the second quarter with exports almost breaking even – a figure that turns positive if one excludes the slump in jewellery exports to Turkey, which was to be expected following last year’s anomalous surge.
The Intesa San Paolo Monitor’s findings show an average fall in exports of 0.9 per cent (following a 2.4 per cent decline in the first three months), with as many as 73 regions nevertheless recording growth.
A comparison of the performance in the first and second quarters does indeed highlight an improvement across almost all the district’s supply chains, with the exception of fashion consumer goods. Following a first quarter in which exports had grown only in the districts specialising in transport equipment, metallurgy and food and drink, the industrial districts active in other intermediate goods and construction products and materials have also returned to positive territory, whilst other fashion-related intermediate goods remained largely stable, and the mechanical engineering and metal products sectors managed to limit the decline to below 1 per cent.
Also worth noting is the trade surplus, which stood at 24 billion for the quarter and 47 billion for the first six months – a figure that remains close to all-time highs.
The standout sectors in terms of the highest export values are jewellery from Valenza, metals from Brescia and mechatronics from Bari – three sectors that accounted for over 700 million in exports in the first half of the year compared with the same period in 2025.
