Italian companies, especially SMEs, reached an important achievement during last year, recording +50% exports to America. It has even more value given this recent geopolitical situation we are facing.
The ones who are directly involved in the export field report that Italian goods have more than favourable reception.
The US is a market that has doubled in size since 2001, but it is also the one with the most unexpressed potential, along with China, where Italian exports amount to 13 billion. The USA is also the market in which we are present to a lesser extent than we could and should be, particularly in the four American states that most appreciate Italian products, namely New Jersey, New York, California and Texas.
Lets dispel a myth: Italian exports to America are not only made up of food, fashion and design. It is the Italian instrumental mechanics that dominates the export field: it alone accounts for about 25% of sales, followed by chemicals/pharmaceuticals, transport equipment and only in fourth place comes food.
Although it is implicit that most of the demand for Italian-made products comes from the large Italian-American community, it is interesting to note how sales of pharmaceuticals have grown in Kentucky, which specialises in life sciences innovation, how Michigan is playing a major role thanks to purchases of capital goods related to the Stellantis group, and how Texas is buying valves and turbines for oil & gas and components for the aerospace industry.
However, it is important to keep an eye on the ever-changing global geopolitical scenario and the competition from France and Germany.
✅ Edited by Valentina from the Italian office of Pangea Studio Associato
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