Italian packaging machinery exports slow down

 Exports of automatic packaging and wrapping machines will fall 6 percent to 5.1 billion euros in 2020, according to official data just released by Istat, a slight downward revision from the forecast our Study Center released in December (-5 percent), following the record year of 2019.

The sector regained ground in the second half of the year, after the -11 percent recorded in June, but the good performance of recent months did not allow a full return to year-earlier values. Also recovering were import values, which, at 478.5 million euros, registered an 8.6 percent decrease compared to 2019 (halving, however, the decline from the -20 percent in June).

The European Union is confirmed in first place among the destination areas of Italian exports, with a 41 percent share of the total and a moderate decrease (-3 percent), followed by Asia (19.4 percent weight on the total exported and a decrease of -16 percent compared to 2019) and North America (14.4 percent, the only area of growth, with a +5.9 percent on 2019). Exports to Non-EU Europe (-4%), Africa and Oceania (-14.3%), and Central and South America (-5%) also decreased.

At the level of individual markets, the United States remains in first place among Italian export destinations in the sector, with a share of 13.1 percent and an increase of 7.3 percent compared to 2019. In second place is France (-17.2 percent) and in third place is Germany (-11.6 percent). Good results are also observed in Switzerland (+33.9%), the Netherlands (+15.2%), and Indonesia (+9%).

German producers record similar results to Italian producers, with -4% compared to 2019 for a total export volume of 5.8 billion euros. This result is driven by the excellent performance on the American continent (+16% German exports to North America, +32.5% those to Latin America), which counterbalance the double-digit decline (-11.5%) recorded in the EU, Africa, and Oceania (-14.5%). Smaller declines were recorded by "Made in Germany" on the Asian continent (-8.6%) and in Non-EU Europe (-6.3%, worse, however, than Italian manufacturers).