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Negative balance for Italy of the bilateral trade balance of 11.4 billion. Berlin is the number one destination for the Italian export of automotive components. And it is the first country of origin of foreign tourists who come to the Peninsula.
by Andrea Carli
Negative balance for Italy of the bilateral trade balance of 11.4 billion. Berlin is the number one destination for the Italian export of automotive components. And it is the first country of origin of foreign tourists who come to the Peninsula.
2 ‘reading
Two countries whose economies are closely connected. The Head of State Sergio Mattarella, meeting in Milan with the President of the Federal Republic of Germany, Frank-Walter Steinmeier, considered it appropriate to highlight this aspect: “The productive system of our country – he stressed – is strongly integrated with the German one. , there is a relationship of interdependence between our economies and this makes being in Milan today very significant. In 2019, but also in the previous three years, Germany is the first supplier and the first customer in Italy, the latter being the sixth supplier and the sixth customer in Germany.
For Italy, negative balance in the trade balance
The volume of bilateral trade in 2019 amounted to approximately 127.7 billion euros. German exports reached an amount of 69.6 billion euros and imports of 58.1 billion euros. These numbers confirm a negative balance for Italy of the bilateral trade balance of 11.4 billion, as in previous years. The subcontracting relationships that exist between the two countries are so consolidated that they can be classified as relationships of mutual dependence.
Germany is the first destination for automotive components made in Italy
Italy mainly exports basic metals and metal products (excluding machinery and plants; the percentage of total exports in this case is 15.4), machinery and equipment (13.8%; Germany is the first destination Italian export of automotive components) and means of transport (11.2).
The country, for its part, imports means of transport (17.4% of total imports from Germany), chemicals and chemicals (12.8%) and machinery and equipment (12.2).
The fruit and vegetable sector
Special mention should be made of the exchange with Germany in the fruit and vegetable sector. The German market represents the most important destination basin for Italian exports in this sector, while for German consumers in recent years Italy represents the third importing country after the Netherlands and Spain of vegetables, legumes and roots and the second for the fruit, after Spain.
