Tuesday, 27 June 2023 09:17
Italian Export Towards the Future: Focus on the USA
According to the "Rapporto Export 2023 - Il futuro è adesso, insieme" by Sace S.p.A., Italian export for the years 2023-2024 will be characterized by a significant market diversification.
The new players in this scenario will be the Gulf countries, India, Thailand, Vietnam, Brazil, and Croatia. This trend represents an important change, marking an expansion of Italy's economic horizon towards emerging markets, demonstrating the increased resilience and adaptability of Italian companies.
In the United States, Italian export recorded an impressive +32% in 2022 compared to the previous year, reaching a total of EUR 65 billion in exports. Also during the current year, U.S. is the 2nd destination market for Italian exports and the 1st destination market for Italian exports within the Americas.
This phenomenon is the result of the excellent performance of the American economy, which, after a slow start to the year and the risks - fortunately averted - of a banking crisis, is expected to grow by 1% for the current year.
The large internal market in the United States and their energy independence have allowed the country to maintain a good economic performance, further strengthened by the push of the IRA to various sectors of the economy.This has allowed Italy to surpass France as the second destination market for Italian sales abroad, consolidating itself among the ten most dynamic economies. Our export value to U.S. is expected to increase by a further 6% this year and 4.5% in 2024. Among the most promising sectors, electrical appliances, chemical products, and rubber and plastic products stand out.
Italian exports to USA (source: Sace S.p.A.)
Focusing on individual state realities, Florida emerges as one of the most promising states for Italian export, but also for Italian Foreign Direct Investment (FDI), especially in the sectors of clean energy, aviation and aerospace, yachting and boating, IT, food, and beverages.
According to data from the U.S. Department of Commerce, in 2022 Italian export in Florida recorded a record increase of 26.6%, for a total of 3.5 billion dollars.
This once again highlights the ability of Italian companies to seize opportunities offered by the most dynamic foreign markets.
Published in
EXP Legal
Tuesday, 02 May 2023 07:58
Business opportunities in Canada for Italian companies
Canada is a high-income country, rich in raw materials, with an advanced agricultural sector and an important industrial base.
The stability of the political and economic system, the presence of certain rules and the rule of law, labor market conditions, the cost of production factors and access to credit, combined with the appreciation of Italian products and the policy of openness to international trade traditionally followed by the country, make Canada an extremely attractive market for Italian companies interested in increasing their exports or internationalizing their production.
Since September 21, 2017, the CETA "Comprehensive Economic and Trade Agreement" between the European Union and Canada has been applied. The Agreement, in addition to the almost total liberalization of tariff lines, provides for measures such as the opening of Canadian public procurement to European companies, the protection of a series of geographical indications, the facilitation of the movement of workers and privileged treatment in the field of investments.
Canada has also been part of a free trade agreement with the USA and Mexico (NAFTA) since 1994, which has recently been renegotiated between the Parties. The new version of the Agreement, called USMCA (CUSMA in the Canadian wording), was signed on November 30, 2018, and came into force on July 1, 2020. A further important step in the field of openness to international trade was taken by Canada in 2018, with the entry into force, from December 30, of the CPTPP "Comprehensive and Progressive Agreement for Trans-Pacific Partnership", concluded between 11 countries in the Pacific area.
As for bilateral trade, data from the Canadian National Statistics Agency, Statistics Canada, show that in 2020 Italy, despite the crisis, confirmed itself as the seventh-largest supplier overall, the second-largest European supplier, after Germany.
In 2020, imports of Italian goods to Canada amounted to 9 billion CAD, a decrease of 5.0% compared to the previous year, against approximately 3.7 billion CAD of Canadian exports to Italy (source Statistics Canada). The trade balance is therefore favorable to Italy with a very significant positive balance, in the order of 5.3 billion CAD. After closing 2019 with a growth of 5%, 2020 also started positively for our country, and the increase in Italian exports to Canada in the first two months of 2020 compared to the same period of the previous year was 8.6%.
In 2021, imports of Italian goods to Canada amounted to 4,8 mld EUR (+13,2%; source Sace S.p.A.) and 2022 forecasts are also positive with a +12% compared to 2021, for a total of exports of around 5,4 mld EUR (source Sace S.p.A.).
Due to the pandemic, there has been a slowdown in trade, however, the Italian decline was the most moderate among all major Canadian trading partners, after China and South Korea.
Among the main sectors of our exports are machinery, motor vehicles and means of transport, beverages and alcoholic beverages (wine in particular) and food products. In the latter sector, Italy is the leading European supplier to Canada (fourth worldwide). Imports from Canada to Italy mainly concern mineral products, chemical products, and machinery.
Not only exports, Canada is also a place to be considered for foreign direct investments. Thanks to the above-mentioned stability of the political and economic system, the presence of certain rules and the rule of law, abundant natural resources, modern infrastructures and the easy access to the US market, Canada is an ideal location to invest for new commercial or industrial projects. The country offers a very favorable business environment with also competitive tax system and efficient regulation.
The stability of the political and economic system, the presence of certain rules and the rule of law, labor market conditions, the cost of production factors and access to credit, combined with the appreciation of Italian products and the policy of openness to international trade traditionally followed by the country, make Canada an extremely attractive market for Italian companies interested in increasing their exports or internationalizing their production.
Since September 21, 2017, the CETA "Comprehensive Economic and Trade Agreement" between the European Union and Canada has been applied. The Agreement, in addition to the almost total liberalization of tariff lines, provides for measures such as the opening of Canadian public procurement to European companies, the protection of a series of geographical indications, the facilitation of the movement of workers and privileged treatment in the field of investments.
Canada has also been part of a free trade agreement with the USA and Mexico (NAFTA) since 1994, which has recently been renegotiated between the Parties. The new version of the Agreement, called USMCA (CUSMA in the Canadian wording), was signed on November 30, 2018, and came into force on July 1, 2020. A further important step in the field of openness to international trade was taken by Canada in 2018, with the entry into force, from December 30, of the CPTPP "Comprehensive and Progressive Agreement for Trans-Pacific Partnership", concluded between 11 countries in the Pacific area.
As for bilateral trade, data from the Canadian National Statistics Agency, Statistics Canada, show that in 2020 Italy, despite the crisis, confirmed itself as the seventh-largest supplier overall, the second-largest European supplier, after Germany.
In 2020, imports of Italian goods to Canada amounted to 9 billion CAD, a decrease of 5.0% compared to the previous year, against approximately 3.7 billion CAD of Canadian exports to Italy (source Statistics Canada). The trade balance is therefore favorable to Italy with a very significant positive balance, in the order of 5.3 billion CAD. After closing 2019 with a growth of 5%, 2020 also started positively for our country, and the increase in Italian exports to Canada in the first two months of 2020 compared to the same period of the previous year was 8.6%.
In 2021, imports of Italian goods to Canada amounted to 4,8 mld EUR (+13,2%; source Sace S.p.A.) and 2022 forecasts are also positive with a +12% compared to 2021, for a total of exports of around 5,4 mld EUR (source Sace S.p.A.).
Due to the pandemic, there has been a slowdown in trade, however, the Italian decline was the most moderate among all major Canadian trading partners, after China and South Korea.
Among the main sectors of our exports are machinery, motor vehicles and means of transport, beverages and alcoholic beverages (wine in particular) and food products. In the latter sector, Italy is the leading European supplier to Canada (fourth worldwide). Imports from Canada to Italy mainly concern mineral products, chemical products, and machinery.
Not only exports, Canada is also a place to be considered for foreign direct investments. Thanks to the above-mentioned stability of the political and economic system, the presence of certain rules and the rule of law, abundant natural resources, modern infrastructures and the easy access to the US market, Canada is an ideal location to invest for new commercial or industrial projects. The country offers a very favorable business environment with also competitive tax system and efficient regulation.
Published in
EXP Legal
Wednesday, 06 April 2022 09:56
Event: "Breakfast Meeting - Focus: Florida"
EXP Legal is pleased to announce a new event - “Breakfast Meeting” - designed to meet the needs of our clients.
On May 3, 2022, from 9:30 am to 11:00 am, EXP Legal will host a round table, in Rome, to discuss and analyze all the new investment opportunities in the State of Florida tailored to the interests of Italian companies.
Guest of the meeting will be Mrs. Emma Cipollari, Deputy Director France & Italy of Enterprise Florida, who will introduce attendees to the main innovations in terms of investment incentives made available by the State of Florida to foreign investors.
Schedule:
9:15 am - Registration of attendees;
9:30 am - Commercial relations between Italy and the U.S. - A. Corrado, S. Rossi;
9:45 am - Florida investment opportunities and incentives - E. Cipollari;
10:30 am - Brief overview of the current Italian loans and grants for internationalization projects - Avv. S. Rossi;
10:45 am - Q&A and light breakfast.
The event will be held in Italian and will take place at EXP Legal Law Firm – Rome office (Via di Ripetta, 141) and is intended for a maximum of 6 companies / professionals (maximum 1 person per company / professional).
For any questions and reservations, please contact This email address is being protected from spambots. You need JavaScript enabled to view it..
On May 3, 2022, from 9:30 am to 11:00 am, EXP Legal will host a round table, in Rome, to discuss and analyze all the new investment opportunities in the State of Florida tailored to the interests of Italian companies.
Guest of the meeting will be Mrs. Emma Cipollari, Deputy Director France & Italy of Enterprise Florida, who will introduce attendees to the main innovations in terms of investment incentives made available by the State of Florida to foreign investors.
Schedule:
9:15 am - Registration of attendees;
9:30 am - Commercial relations between Italy and the U.S. - A. Corrado, S. Rossi;
9:45 am - Florida investment opportunities and incentives - E. Cipollari;
10:30 am - Brief overview of the current Italian loans and grants for internationalization projects - Avv. S. Rossi;
10:45 am - Q&A and light breakfast.
The event will be held in Italian and will take place at EXP Legal Law Firm – Rome office (Via di Ripetta, 141) and is intended for a maximum of 6 companies / professionals (maximum 1 person per company / professional).
For any questions and reservations, please contact This email address is being protected from spambots. You need JavaScript enabled to view it..
Published in
EXP Legal
Thursday, 10 March 2022 11:41
Event: "Breakfast Meeting - Focus: United Arab Emirates"
EXP Legal is pleased to announce the new serie of “Breakfast Meeting” designed to meet the needs of our clients.
Published in
EXP Legal
Friday, 17 September 2021 09:49
EXP LEGAL with ECS S.r.l. in the deal with the Indonesian Bengkulu Provincial Government
The Indonesian government has chosen an Italian company to mitigate Covid-19 pandemic. An international sales and purchase agreement has been signed for the provision of 120,000 air purifiers (STERICLAIR™).
Published in
EXP Legal
