Dec. 18 – Veneto’s economy flies away and looks to international markets: after a weak 2013, with a total increase in exports of + 2.9%, for a value of almost € 53 billion, the first nine months of 2014 saw regional exports accelerate by +2.5%, for a total value of €40 billion and an annual increase of more than €1 billion. Despite the Russian-Ukrainian crisis and international turbulences, Veneto exports in 2014 could reach €54 billion, while imports would remain at €39 billion, with a regional trade surplus of €15 billion. Veneto exports counter the negative GDP trend that this year should grow by only 0.2%, contrary to a previous estimate of + 0.9%, yet still somehow restricting the contraction of -1.5% matured in 2013. Only from 2015 will the regional GDP grow again (with a current estimate of + 0.7%). At the Unioncamere Veneto headquarters, President Fernando Zilio presented the 8th edition of the report "Veneto Internazionale", made for 2014 by the Centro Studi, in collaboration with the Chambers of Commerce of Veneto. Gian Angelo Bellati, Secretary General of Unioncamere Veneto, and Serafino Pitingaro, responsible of the Area Studies and Research at Unioncamere Veneto, were also present at the event. “The figures for the first nine months of 2014 confirm Veneto companies’ propensity to find outlets in foreign markets for those products that cannot be absorbed by the internal market, for several quarters now, - commented Fernando Zilio, - This is a good result especially when compared to the altogether stagnant economy and its still uncertain outlook. However, we also need to be aware of something economists and researchers call manufacturing back-reshoring, which sees companies that had established production plants abroad return home. This phenomenon is largely due to factors such as skilled labor requirements, excess capacity availability, the proximity of certain markets. For Italy, this means, above all, a return that will reward 'Made in Italy' in global markets; a production that often fails to be accompanied by solid national and European support policies.” (Red)

THE REFERENCE MARKETS ARE GERMANY AND FRANCE

The Veneto region confirms itself leader of Italian exports, second only to Lombardy, with an incidence of 13.5% on total Italian sales. The trade balance in 2013 amounted to + €13.8 billion, with imports growing by only +3.4%, for a total value of €39 billion. As for reference outlet markets, the first six months of 2014 saw manufacturing exports record + 2.9% towards the EU28 (+5.4% worth €15.2 billion) and a -0.5% decrease in non-EU markets. Germany and France remain key markets (with a +5.4% and a +2.8% increase, respectively), but the UK stands out, with an unbelievable +13.5% for the period under consideration. Exports to Switzerland have fallen (-14.2%) due to the drop in prices for precious metals, while exports to Ukraine were interrupted (-16.3%); but there are ‘admirers’ of Veneto products in the United States (+6.4%). Sales in BRICS, on the other hand, are slowing down: Brazil -4%; Russia -3.7%; India -4.4%; China -6.6%; and South Africa -14.7%.