23 Sep Internationalisation: data and trends in Italy and the world
A generalised increase in imports across all sectors seems to ensure the success of Italian companies that aim at internationalisation.
This is why:
The trend is evident and highlights the increasingly sophisticated demands of emerging countries. This seems to be the global phenomenon that can still ensure the success of “Made in Italy” products and present new profit opportunities for companies in Italy that aim at internationalisation. As reported in the “XII Rapporto sull’evoluzione del commercio con l’estero per aree e settori” (12th report on the evolution of foreign trade areas and sectors), by the ICE and Prometeia. The ability of Italian companies to customise their products, and therefore to meet complex requirements, is especially appreciated in foreign markets, not only in traditional sectors, such as fashion, furnishings and food, but also in sectors such as mechanics, technology and, above all, electrical engineering.
Italian companies have managed to correctly interpret this growing demand since 2013, when their share of national exports rose to 30%, a level slightly lower than Germany and 5 points higher than France and the UK. The outlook regarding the increase in imports from emerging countries over the next three years suggests that opening up to these markets could prove to be highly successful for Italian companies. The potential really seems to be huge, even in decidedly new markets like Sub-Saharan African countries, which, thanks to their strong population growth, will significantly strengthen demand. What is the best move? To oversee these markets in advance in order to be ready for any sudden increase in demands. This will mainly concern the mechanical engineering industry, consumer goods and products for the building industry, engineering and furnishings.
Here, in brief, are the trends and current data related to internationalisation in the global economy: there is no longer a divide between strong growth in emerging markets and recession in mature markets. This new situation, which should bring more balanced growth to every sector, causes more generalised development in international manufacturing trade, for which a 3.5% upturn is expected through 2014 (it reached 6% in the last decade prior to the economic crisis). Beginning in 2015, but especially in 2016, this should boom. Every sector will see an increase in imports: the highest levels of imports will be recorded in emerging Asian countries (especially Vietnam, China and India) with a 5.5% growth expected. Emerging European countries that are currently the most critical, such as Ukraine, Turkey and Russia, will, in comparison, register a figure of 1.3% for imports.
Among the good news is the return of growth across the European market that is tied to the euro area, as well as substantial growth in North America’s imports over the next three years. The positive trend expected in the USA is an average annual rate of 5%.
In summary, the widespread growth of imports across all sectors actually seems to set the ideal conditions for businesses to internationalise. If not now, when?
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