ROME: A mix of traditional trading partners and other markets rising in importance to Italy are likely to be the most important export destinations for Italy in the fall, an expert from the multinational consultancy Prometeia said Tuesday.
Alessandra Lanza, a senior partner with Prometeia, said data compiled from Italy’s National Statistics Institute (ISTAT) and the Italian Trade Agency (ICE) showed the most fertile markets for Italian-made products over the rest of the year will be Germany, Switzerland, China, South Korea, and Singapore.
The first two countries on the list are not a surprise: last year Germany was the top importer of Italian goods while Switzerland was the fourth. But a year ago, China was the ninth biggest importer of Italian goods, while South Korea and Singapore did not appear in the top 15, according to information from the International Trade Center, which based its estimates on data from the United Nations and the World Trade Organization.
Lanza, an economist, said that the global coronavirus outbreak that has acted as a drag on the world’s economy since February, would be more of a determining factor than geopolitical tensions, tariffs, or exchange rates — traditionally major factors for trade.
“As never before, the trade routes will be influenced by a single factor: a country’s progress against the pandemic,” Lanza said. “Countries that faced the pandemic sooner or more effectively have a head-start in restoring sales channels.”
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