As expected – according to the report of the Romagna Chamber of Commerce – also from the recent economic dynamics of the Manufacturing sector, in the first quarter of 2024 exports from the Romagna area (Forlì-Cesena and Rimini) are decreasing, although the trend appears more limited for now of the regional and national one. The trade balance (difference between exports and imports) remains positive, while the value of trade (sum between imports and exports) is reduced by 4.3% compared to that recorded a year ago.
“In the first quarter of 2024, exports to Italy recorded a decline of 2.8%, with a negative economic trend for almost all regions, albeit with different intensities. In Emilia-Romagna the contraction is 3.0%, equal to a decrease of approximately 650 million euros compared to the same period in 2023. Slightly better in our provinces, although still negative, with a decrease of 2%. – comments Carlo Battistini, president of the Romagna Chamber of Commerce -. The export trend is a consequence of the slowdown in international trade already detected in 2023 and the latest economic data from local manufacturing. Although the inflation trend appears to be decreasing or, in any case, has returned from the critical values of two years ago, uncertainty remains about the immediate scenario, as demonstrated by the reduction in the business confidence index. The signs of a slowdown in the economic system are also evident from the reduction in imports, which is more pronounced than that of exports. In this difficult context, it is even more important to support companies in their internationalization strategies, which is one of the strategic lines defined by our 2022-2027 mandate program. The Chamber, therefore, in addition to offering companies contributions for participation in international fairs and specific projects, services and training for the development of international marketing and for expansion towards foreign markets, also explores the potential of artificial intelligence and other digital tools, capable of optimizing business flows and commercial processes”.
Business exports, aggregate data
Based on ISTAT data processed by the Economic and Social Observatory of the Romagna Chamber of Commerce, in the 1st quarter of 2024 exports from the Romagna territory (Forlì-Cesena and Rimini) amounted to 1,820 million euros, with a decrease of 2. 0% compared to the same quarter of the previous year, more contained than the regional (-3.0%) and national variation (-2.8%).
Imports are also decreasing in trend terms (-8.4%). However, the trade balance remains positive for 876.4 million euros, equal to 31.7% of the entire trade in the territory.
In the trend comparison with the first quarter of 2023, exports of many of the main products are reduced: -4.2% for machinery and mechanical equipment (19.6% of the total), -9.2% for clothing items (8.1%), -2.2% agricultural products (7.3% incidence), -15.7% electrical equipment (6.0%), -2.2% furniture (5.9%). %), -6.2% metallurgy (5.8%), -17.3% leather articles (including footwear, for an incidence of 4.0%), -8.8% rubber articles and plastic (4.0%), -10.7% chemical products (incidence of 3.0%). Positive, however, were the exports of ships and boats (+11.8%, 7.5% incidence), food products (+10.1%, 7.3%), products of other manufacturing industries (+8 .4%, 5.7%) and metal products (+9.5%, 5.0% incidence).
13.1% of the territory’s exports are directed to France (-6.9% trend), 10.3% to the USA (+6.3%) and 9.7% to Germany (-12, 0%). Exports to the United Kingdom are increasing (+18.1%, with a 5.7% impact), while exports to the Russian Federation are decreasing (-9.9%, with a 2.2% impact) and China (-20.2%, 1.5% incidence).
Business exports: provincial focus Forlì-Cesena
Based on ISTAT data processed by the Economic and Social Observatory of the Romagna Chamber of Commerce, in the 1st quarter of 2024 exports from the province of Forlì-Cesena amounted to 1,122 million euros, with a decrease of 3.0% compared to same quarter of the previous year (-3.0% Emilia-Romagna and -2.8% Italy).
Imports are also decreasing in trend terms (-8.2%). However, the trade balance remains positive for 563.7 million euros, equal to 33.6 of the entire trade in the territory.
In the trend comparison with the first quarter of 2023, given the growth in exports of machinery (+9.1%, 16.1% incidence on the provincial total), of products from other manufacturing industries (+9.7%, 8.2% incidence) – such as for example sporting goods and musical instruments – and food products (+7.3%, 7.0% incidence), the export of agricultural products is reduced (- 1.8%, 11.7% incidence), furniture (-2.0%, 9.0%), metallurgy (-7.7%, 9.0%), other means of transport (- 14.0%, 6.7%), electrical equipment (-18.4%, 6.0%), rubber and plastic articles (-13.2%, 5.2%) and above all leather articles (- 23.3%, 5.1%); within this last product group, footwear is reduced by 24.6%.
15.9% of the territory’s exports are directed to France (-8.1% trend), 11.5% to Germany (-12.1%), 7.1% to the USA (-6 .2%) and 6.7% in Spain (+2.5%). Exports to the United Kingdom are reduced (-4.3%, 3.6% incidence), as are those to the Russian Federation (-34.7%, with an incidence of 1.0%) and China (-14.9%, 1.8% incidence).
Business exports: Rimini provincial focus
Based on ISTAT data processed by the Economic and Social Observatory of the Romagna Chamber of Commerce, in the 1st quarter of 2024 exports from the province of Rimini amounted to 698.2 million euros, substantially stable (-0.3%) compared to the same quarter of the previous year (-3.0% Emilia-Romagna and -2.8% Italy).
Imports are also decreasing in trend terms (-8.7%). However, the trade balance remains positive for 312.7 million euros, equal to 28.9 of the entire trade in the territory.
In the trend comparison with the first quarter of 2023, given the growth in exports of metal products (+18.2%, 9.4% incidence on the provincial total), of ships and boats (+67.5%, 8.9%) and food products (+14.6%, 7.8%), while the export of machinery decreased (-14.9%, 25.1% incidence), clothing items (-12.2%, 17.7%) and electrical equipment (-10.9%, 6.0%) which, in fact, constitute manufacturing production characteristic of the territory.
15.6% of exports from the Rimini area are directed to the United States of America (+17.8% trend), 9.0% to the United Kingdom (+39.1%), 8.7 % in France (-3.3%) and 6.9% in Germany (-11.5%). Despite the international sanctions for the conflict in Ukraine, exports to the Russian Federation increased (+6.5%) with an impact of 3.9%. The share of exports to China is decreasing (-32.2%), with an incidence equal to 1.0% of the provincial total.
Source: ISTAT (Coeweb)
Elaborations: Economic and social observatory of the Romagna Chamber of Commerce by the Economic Information Office – Data valorisation
Economy report: https://www.romagna.camcom.it/formazione-economico-statistica/raiuto-sulleconomia/index.htm?ID_D=268
