Italian exports to Japan are booming, with the first three months of the year seeing an increase of 33.5% year-on-year, and of 9.8% on the previous quarter. Commenting on the trade figures published by the Japanese Finance Ministry, the Italian Embassy in Tokyo underscored that our exports are notably higher that the European average for the period (10.8% YoY and 3.4% on a quarterly basis). We are also performing better than our main EU partners Germany, France and Great Britain. Italy has thus confirmed its position as third European supplier to Japan, after Berlin and Paris.
Engines of growth
The pharmaceutical sector is driving Italian exports, with sales up 35.8% on a quarterly and 77.1% on an annual basis. The sector has thus confirmed its leading position in bilateral trade, of which it accounts for 29.3%. Italy, which holds 13% of this market, has overtaken Switzerland and France as Japan’s third supplier, after Germany and the USA.
Another two traditional export sectors have also achieved excellent results: food and drink, with growth of 20.8% YoY and 1% on the previous quarter, and machinery, mechanical and electrical equipment, with 18.8% and 2.8% respectively. Clothing and accessories, bags and footwear also saw a marked increase, with fashion now accounting for a quarter of all Japanese imports from Italy.
