Yachts are among the seven sectors driving Italian exports.
For the 'Yachts and other vehicles' category, the seven main products generate a trade surplus of 13,6 billion for our country.
Yacht and superyacht construction is among the seven major sectors of the Italian economy that drive foreign trade, generating a significant trade surplus of nearly €200 billion and driving the entire manufacturing sector. This was reported Il Sole 24 Ore explaining that to the four historic standard-bearers of our successful productions (clothing-fashion, food-wine, home furnishings and automation or mechanics), three more must be added: metal products (steel pipes, metal structures, cranes, bolts), yachts together with other vehicles (ships, motorcycles, bicycles) and medicines and personal care products.
It is precisely thanks to these sectors that the Italian manufacturing system was able to weather the shock of globalization and asymmetric competition from Asia, so much so that it increased its market share of global exports from 2,8% in 2015 to 2,9% in 2020. While other G7 countries experienced slowdowns, "In 2019, the foreign trade surplus generated by the top 70 products of the 'Magnificent Seven' of Made in Italy was $138,4 billion. Significantly, exports from our 'Magnificent Seven' have already returned well above pre-Covid-19 levels in both dollars and euros, despite the particular difficulties still affecting the fashion sectors," writes the Confindustria newspaper. “In the last four rolling quarters ending in Q3 2021, total exports of the top 70 products reached 199 billion euros, a growth of 3,9% (+10,7% in dollars), compared to the period from Q4 2018 to Q3 2019.”
For the 'Yachts and other vehicles' category, the seven main products generate a trade surplus of 13,6 billion for our country.
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