The year 2024 is emerging as particularly favorable for Italian exports, which have demonstrated a remarkable ability to consolidate. This conclusion comes from analyses by the Edison Foundation, recently highlighted in the Italian press, which indicate that Italy has managed to position itself among the world’s leading exporters, surpassing several global competitors. Specifically, data from the World Trade Organization (WTO) for the first half of 2024 confirm Italy’s sixth-place ranking in global export standings, with export values reaching $670 billion (equivalent to €626 billion according to ISTAT).
By adjusting the evaluation parameters, Italy could even be reconsidered as the fourth-largest exporter globally. The Edison Foundation points out that, by excluding the Netherlands from the ranking—given that a significant portion of their exports consists of goods in transit rather than genuine exports of locally produced goods—Italy would move up to the fifth position, right after China, the United States, Germany, and Japan. This result places Italy ahead of South Korea, which had overtaken it in 2010.
Italy could climb even further up the ranks by excluding automobile exports, which account for a substantial share (10-15%) of the exports of countries such as Germany, South Korea, and Japan but make up only 3% of global trade. In this scenario, Italy would rise to fourth place among the world’s top exporters, thanks to its diverse product mix spanning a wide range of productive sectors. Excluding cars, Italian exports reached $657 billion in 2024, surpassing Japan’s exports, which stood at $607 billion.
Over the past seven years, compared to 2015, Italy’s total merchandise exports have been the most dynamic among G7 countries, with a growth rate of 48% in current US dollars. This growth rate is nearly double that of France (+28%) and Germany (+27%) and far exceeds that of Japan (+15%) and the United Kingdom (+12%). Additionally, Italian exports have shown better performance than those of countries rich in raw materials and energy, such as Canada (+38%) and the United States (+34%).
Contrary to old stereotypes that describe Italy as an industrial country characterized by low productivity and little innovation, the data suggest a very different reality. The strength of Italian exports primarily lies in around 9,000 medium and large exporting companies (with 50-1,999 employees), which account for three-quarters of the country’s manufacturing exports. Moreover, a smaller group of about 40 companies with more than 2,000 employees contributes an additional 12% to the total export value.
Italian medium-sized companies, in particular, have a labor productivity rate that is €16,000 higher per employee than their German counterparts (Eurostat data, 2021). The competitiveness of Italian companies is also high across numerous manufacturing sectors, from food and beverage to fashion and footwear, from rubber and plastics to metallurgy, from ceramics to furniture. The technological and innovation levels of Italian exporting companies, especially following the introduction of the Industry 4.0 Plan, are among the highest in the world.
Italy, in particular, boasts a high level of diversification in its exported products, which is another key factor behind its success. In 2023, no fewer than 110 products in the international trade HS 4-digit classification registered a trade surplus exceeding $500 million. Of these, 89 belong to the so-called “Magnificent 7” sectors of Made in Italy, divided into the “3Fs” (Fashion, Food, Wine and Tobacco, Furniture and Building Materials) and the “4Ms” (Metal Products, Machinery, Motor Yachts and Other Transport Equipment, Medicaments and Personal Care Products).
In terms of global leadership, Italy is the world’s top exporter of 201 products, 17 of which have an export value exceeding $1 billion. Among the standout products are ceramic tiles, cruise ships, motor yachts, sunglasses, packaging machines, pasta, tomato products, and leather footwear, to name just a few. Overall, the export of the 137 products where Italy ranked as the world’s top exporter, each with a value of at least $50 million, reached $70.2 billion in 2022.
While the success of Italian exports is undeniable, it is also important to consider the risks associated with this growth. According to data from the ICE Report 2023 and the ISTAT-ICE Yearbook 2023, the main export destinations for Italian goods include markets with varying levels of legal stability and security. The World Justice Project (WJP) Rule of Law Index provides a detailed overview of the legal context in various countries, ranking them based on criteria such as constraints on government powers, absence of corruption, fundamental rights, and justice.
Cross-referencing these data reveals that 32% of Italy’s top 50 export destinations have a legal rating considered critical or non-positive, with a score below 0.6 on the WJP Rule of Law Index. These countries are characterized by less reliable legal systems and are more vulnerable to corruption or bureaucratic inefficiencies, posing a risk to Italian exporting companies.
Further analysis of the available data has allowed for clustering of the most relevant markets based on risk levels. Europe, for example, has the highest export value and the highest average legal score, making it the most stable and secure region for Italian exports. In contrast, Asia, while representing a high-value market for Italian exports, shows a lower average legal score, indicating a mix of opportunities and risks. America, for its part, offers a good balance between export value and legal stability, while Africa and some parts of Asia have lower legal scores and less significant markets.
Analyzing the historical trends in the rule of law ratings for major export markets reveals some interesting insights. Germany and France, for instance, exhibit a stable and secure legal environment for Italian companies, with consistently high scores over time. The United States, despite a slight decline in scores since 2018, still maintains a relatively safe legal environment with a score above 0.7. Conversely, China, despite showing gradual improvement, continues to have a score below 0.5, signaling potential risks. Brazil, for example, shows stable but lower scores, indicating persistent legal and administrative challenges.
This analysis clearly shows that, to ensure sustainable and secure exports, it is crucial for Italy to focus on implementing export protection services. In this context, the role of companies like Invenium Legaltech becomes essential. They support Italian exporters—both large and small—in managing critical issues related to delayed or non-payments on a global scale. Invenium Legaltech, in particular, stands out for its integrated approach to the digital transformation of exports, offering innovative solutions under the concept of “Import-Exportech” to enhance the safety and efficiency of international trade.
Exporting companies, to maintain competitiveness in international markets and foster innovation, need balance and financial support, liquidity, a focus on development strategies, and core business operations. For this reason, Invenium Legaltech collaborates with CFOs and management teams of both large and small companies, creating innovative, accessible, and efficient paths for managing overdue payments and corporate disputes, prioritizing mechanisms such as success fees and litigation funding.
For further information and to schedule a dedicated video conference, please contact info@invenium-legaltech.it.
