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During 2023, the trend of the Trentino economy recorded a worsening compared to the previous year. This is what emerges from the framework developed by the Studies and Research Office of the Trento Chamber of Commerce based on the most relevant data collected in the publication “Notes on the economic situation in the province of Trento-2023”.
Overall, in 2023 the sales of businesses Trentino grew by 4.4% compared to the previous year. However, there is a slowdown in trend of growth, if we consider that in 2022 turnover had increased by 11% on the previous year.
At the end of the year, the overall picture is rparticularly uncertain outcomewith continuing difficulties for the sectors most exposed to international markets – such as manufacturing and wholesale trade – and a good performance, however, for the sectors that depend most on local demand – such as retail trade and business services.
Always with reference to 2023, the exports Trentino has reached the value record of 5.3 billion euros, an increase of 3.6% compared to the previous year.
Even in this case, despite the performance is positive, growth remains lower than that recorded byexport in 2022 (+16.3%). The imports instead they recorded a decline of 4.9% for a value of 3.7 billion euros. The trade balance therefore closed with a positive balance of 1.6 billion euros.
The data onoccupation They recorded an increase of 0.5%, even if in the last months of the year there was a slight contraction.
The trend in employee dynamics has proven to be anything but homogeneous, showing a differentiated evolution in the different sectors: manufacturing, wholesale trade, retail trade and, above all, transport have in fact recorded an increase, while the construction sector and business services have recorded decreasing numbers.
L’entrepreneurs’ opinion Trentino regarding the prospective situation (one year) of their company has undergone a positive evolution during the year. At the beginning of last summer, the opinions expressed mainly negative considerations, which however improved towards the end of 2023.
The index of climate of trust of Trentino consumers went from -6.6 points in February to -26.4 points in November, a drop essentially due to inflationary tensions and high interest rates which continued to weigh on citizens’ purchasing power. In particular, in the last months of the year, uncertainty and caution characterized the opinions of consumers, who expressed concern both regarding their personal economic situation and the performance of the local economy.
“Despite the fact that the data relating to turnover and exports remain at positive growth values – explains John BortPresident of the Chamber of Commerce of Trento – the significant decline recorded in their performance in recent years is a worrying signal. The sense of uncertainty that is recorded at the entrepreneurial level also concerns consumers, who show less and less confidence in the possibilities of improving their personal and general economic situation”.
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