In the first half of the year, Italian food and beverage exports rose by 7.1% in value, reaching €34 billion. This puts Italy on track to hit the €70 billion mark by the end of 2024.
The sector’s performance contrasts sharply with a broader decline in national exports of goods and services, which fell by 1.1%, according to a report from research firm Ismea. Both the food industry (+7.7%) and agriculture (+3.4%) have contributed to this robust growth.
Imports, meanwhile, increased by just 1.4% compared to the same period in 2023, as the easing of agricultural commodity prices following 2022’s surge helped cool demand. As a result, Italy’s trade balance swung back into surplus, posting €433 million by mid-year.
Italian food and beverage exports gained momentum across most markets, with notable growth in the United States (+17%), where flagship products like wine, sparkling wine, extra virgin olive oil, and pasta were key drivers. Exports to Japan rebounded sharply, climbing by nearly 50% after a slump in 2023.
Strong gains were also recorded in Romania (+11%) and Australia (+18%). Among Italy’s top 10 export markets for food, Germany, France, and the U.S. retained their leading positions, followed by the UK, Spain, the Netherlands, Switzerland, Belgium, Poland, and Austria.
Bottled wine exports rose by 2%, maintaining their top spot with 7.6% of total food exports, valued at €2.6 billion. Sparkling wine fared even better, with sales approaching €1.1 billion (+7%). Other standout performers included cereal-based products, which grew by 8%, led more by bakery and confectionery items than by pasta. Exports of aged cheeses (+7.5%), fresh cheeses (+6%), and olive oil (+64%) also surged.
On the import side, raw and semi-processed materials made up the bulk of purchases. Imports of key cereals like soybeans and palm oil dropped, while unroasted coffee (+12%) and olive oil (+33%) saw strong increases.