Tuscan exports. Final balance 2022

Tuscan exports. Final balance 2022

Short-term note 17/2023 | May Edited by Tommaso Ferraresi and Leonardo Ghezzi

Summary
In a year that opened under the sign of uncertainty, due to the invasion of Ukraine by Russia and the sharp rise in the prices of energy products, Tuscany’s exports nonetheless registered a very positive trend (+ 8.4%). Result higher than the Italian average and that of the main exporting regions. Pharmaceutical products were once again the basis of the result, whose foreign sales grew by 42%, at constant prices, compared to 2021. The most suffering productions were those on which the rise in the prices of energy products weighed more, increased by 5%, against 9% for other productions. In particular, chemical and basic metallurgy productions suffered, whose exports at constant prices fell compared to 2021. Machinery exports, on the other hand, suffered from the strong exposure to Russian demand. In particular, general purpose machines, which recorded a decrease of 15.5%. For 2023, the growth rate of Tuscany’s exports is expected to be around +7.7%. On the forecast scenario, however, strong risks persist which could force a downward revision of the estimates during the year.