Export growth and more. Andrea Prete, president of Unioncamere, speaks

Forget resilience – Italy’s business sector has surprised many by demonstrating the underlying strength of its productive fabric. Its ability to export is particularly striking. “We are a small country, but we have become the world’s fourth-largest exporter after China, the United States and Germany, ahead of Japan,” emphasises Andrea Prete, president of Unioncamere, the association of Chambers of Commerce which has branches everywhere and is in direct contact with this network of almost six million businesses. If we then look at the share of exports relative to gross domestic product, in Italy it stands at 30 per cent, but continues to rise, so much so that Foreign Minister Antonio Tajani has ventured a figure of 40 per cent; setting aside his enthusiasm, this may not be an unrealistic target. We outperform the United States, which barely reaches 13 per cent, and are closing in on Germany. We have already left Japan behind, as it stands at 24 per cent. This is a historic leap forward if we look back at the recent past. In 2025, Italy exported goods worth 650 billion euros; this year it is performing even better, up 4.6 per cent over seven months, despite the war in the Persian Gulf and the Suez blockade, Trump’s tariffs, and the protectionist barriers that have gone up almost everywhere.

To fully assess the market penetration of the “beautiful things that the world loves, produced in the shadow of the bell towers” (Carlo Maria Cipolla), one must take into account the fundamental shift that took place a quarter of a century ago. “It used to be said that we sold abroad by devaluing the lira,” adds Prete. “Today we are doing much better with a strong currency like the euro.” This is a lesson for the anti-euro camp, but also confirmation that ‘Made in Italy’ possesses an intrinsic strength, based on product quality and the variety not only of the goods sold but also of the geographical areas and countries with which we trade. It is another virtue, according to the president of Unioncamere, which makes Italy flexible and capable of adapting more quickly than Germany, which has finally got back on track. The recovery of the German economy after two years of stagnation is helping Italian exports, given the close integration between the two economies. However, the real news comes from the success of sales in the United States, where the doors have opened slightly, but it is now impossible for them to close completely. We should also mention the expansion into India and Indonesia at a time when the Chinese market has become more challenging, as well as the promising start in Mercosur.

When we talk about ‘Made in Italy’, we think of food and fashion; this is a widespread perception amongst the general public, and not just abroad. Those who work and manufacture, however, look to Italy primarily for mechanical components and machinery, which remain at the top of the list without detracting in any way from the food and fashion sectors. A new development in recent years has been the strength of the pharmaceutical sector (it is no coincidence that it has come under the scrutiny of Trump’s tariffs), whilst a veritable boom is sweeping through the cables sector of all kinds. This is a sector Prete knows well; for 30 years he produced electrical cables at his company, IMC in Salerno. With a sense of smug yet wry Campanian pride, he recalls that Prysmian – the Italian champion and world leader – has established the largest cable factory of all near Pozzuoli. The success story of the former Pirelli Cavi, sold to its managers with the backing of Goldman Sachs, leads us – after many toasts of Prosecco – to the weaknesses that Italian companies must overcome. It is not just costs (such as energy), not just bureaucratic and political red tape, not just productivity keeping wages low, but also scale. “Being small today is less appealing than it used to be,” says Prete. The investment required to keep pace with constant innovation is enormous, and the difficulties faced by companies that are too small in finding the necessary skills are also significant. In fact, the take-up rate of digital technologies is lower than that of competitors, not to mention artificial intelligence. The chamber of commerce system helps companies enter this new era – support that starts from the grassroots – but it is clear that a push from outside is needed, and not just from the government. Let us consider private finance, the stock market and the banks. The restructuring of the credit system has been crucial, and now consolidation can be very positive, argues the president of Unioncamere. After all, the banks are doing what Italy’s major private industries have failed to do. They can now play a decisive role in helping businesses escape the trap of niches – niches which, whilst excellent, are still just that: niches.