Food sector to lead growth of Italian exports for 2016-19 -state agency

Marr SpA

17/06/2016 17:52

MILAN, June 17 (Reuters) - Italy's food exports are expected 
to increase by 5 percent a year on average through 2019, beating 
every other sector thanks to strong expansion in countries such 
as China, state-controlled export credit agency SACE said.  
    Italian food makers are traditionally small family-owned 
companies that find it difficult to sell their products abroad. 
    However, poor demand at home, where the economy is only 
slowly emerging from a deep recession, is pushing companies to 
pursue growth elsewhere. 
    "In a world that is suffering due to the long-term effects 
of the global (financial) crisis, Italian food companies could 
seize growth opportunities in some countries where their 
presence has been limited so far," SACE's Chief Economist 
Alessandro Terzulli said. 
    SACE expects overall Italian exports to grow by 3.7 percent 
a year for the four years to the end of 2019. Italian food 
exports totalled 37 billion euros ($42 billion) last year, 
accounting for nearly 10 percent of the country's total exports. 
    Italian food and beverage exports to China are expected to 
grow at an annual rate of nearly 12 percent over the four years, 
SACE said. Exports to Saudi Arabia, United Arab Emirates and 
Qatar are seen at 9 percent over the period. 
($1 = 0.8874 euros) 
     
 
 (Reporting by Francesca Landini; Editing by David Goodman) 
 ((francesca.landini@thomsonreuters.com; +39 02 66129437; 
Reuters Messaging: reutersitaly.thomsonreuters@reuters.net)) 
 
Keywords: ITALY EXPORTS/FOOD