Italian Agri-Exports Surge 8% Amid Global Trade Slowdown

October 16,2024 News —— In the first eight months of 2024,Italy’s agricultural product exports increased year-on-year8%,against the backdrop of a global trade environment generally affected by the EU-Russia-China triangular trade war,significant stagnation (a year-on-year decrease0.6%Against this backdrop,Italys agricultural sector has performed exceptionally well,becoming a bright spot in export growth.

Agricultural exports buck the trend with growth

According to the latest report released by the Italian Agricultural Enterprises Association (Coldiretti),between January and August 2024,the export value of "Made in Italy" food products increased by more than45 billion euros.This growth rate far exceeds that of other industries severely affected by trade wars,demonstrating the strong competitiveness of Italian agricultural products in the international market.Coldiretti,with1.6 millionmembers,is the largest organization of agricultural entrepreneurs in Italy and Europe.

Strong performance in major export markets

Analysts point out that the significant growth in Italys agricultural exports mainly comes from non-EU countries,with a year-on-year increase of14%,while exports to EU countries only grew by4%Especially in terms of exports to Russia,between January and August 2024,Italy’s agricultural product exports surged by more than 100% year-on-year.21%,achieving substantial growth compared to the same period in 2023.

Moreover,Germany remains the main export market for Italian food.In the first eight months of 2024,Italy’s agricultural exports to Germany increased by3.6%,solidifying trade relations between the two countries.

Growth in Chinese and US markets

In the Asian market,Italys agricultural exports to China increased by17%,slightly lower than the19%growth in the US market.This indicates that despite the complex trade environment between China and the US,Italian agricultural products have maintained steady export growth,meeting the demands of different markets.

Future outlook

Coldiretti experts stated that,based on the outstanding performance in the first eight months of this year,Italys agricultural exports are expected to reach70 billion eurosby the end of the year.This forecast reflects the sustained growth potential and adaptability of Italian agriculture in the global market.

Addressing trade barriers and market challenges

Facing trade barriers brought by the triangular trade war between Europe,Russia,and China,Italys agricultural sector has achieved steady export growth by optimizing product structures,improving quality,and exploring emerging markets.Experts analyze that Italian agricultural enterprises have demonstrated high flexibility and innovation in addressing international trade challenges,laying a solid foundation for future export growth.