With +21.5 percent growth, Italian food exports in the first quarter of 2022 reach yet another all-time high. The effects of the conflict in Ukraine, however, are worrying given how rising energy prices are affecting consumption globally. This is what emerges from the latest analysis by Italian farmers’ association Coldiretti of Istat data on foreign trade.
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Italian food exports are up from an annual all-time record of 52 billion reached in 2021. Germany is the main outlet market, with sales up +12.4 percent over the period. The United States ranks second with +21.5 percent sales growth, and France takes the third step on the podium (+19.5 percent). The exceptional growth trend of Italian F&B exports to the UK continues: +32.5% despite Brexit. In contrast, exports plummeted by -25.1% in China, as well as in Russia where, with the start of the war and sanctions, they fell by -41.2% in March 2022 compared to February. Italian F&B growth in foreign markets is driven by staples such as wine, which leads the ranking of the most exported Italian products, followed by fresh fruit and vegetables.
However, the direct and indirect effects of the Russian invasion of Ukraine are causing considerable concern. Starting with the closure of markets in the countries most directly affected, such as Russia where sanctions have been triggered that affect exports of some specialties over the value of 300 euros such as truffles, high-end wines, and caviar.