A decisive contribution to the recovery of the Italian economy can come from exports, internationalisation, and access to credit. Despite the global context of trade deceleration, exports from Italy increased by 6% in July 2012 on 2011. Without the contribution of reciprocal trade, the recession’s weight on the Italian economy would be inevitably worse, with GDP sliding below the -5% mark halfway through the year.
More good news for the Italian economy is that sales outside the EU are increasing, and now account for 45% of exports. However, these encouraging factors will not have an effect in compensating for the huge deficit which hangs over the future of the sector.
The problem is having a large number of small businesses exposed to the higher risks and greater costs of globalization. A limited dimension to Italy’s export channel could also combine with the problem of access to credit, weighing on an industry which paradoxically attracts the most demand. Opportunities like these which mean growth for quality exports can’t be missed due to the problem of credit.
Moves to rectify this must be looked upon favourably, as they could prove themselves the deciding factor in support of the economy, credit, and payment circuits, as well as capital flows and export finance operations.