Export, 2026 of made in Italy starts badly, at -4.6% on 2025. With agri-food at -7.7%

As expected, given that the start of 2025 had been marked by a rush to stockpile made in Italy products ahead of U.S. tariffs, as well as by a geopolitical landscape which has become even more complicated in recent months, the beginning of 2026 was not positive for made in Italy exports. And while the detailed data for January 2026 will be released on April 17th, the Istat note on foreign trade and import prices shows that, whereas overall made in Italy exports recorded a decline of -4.6% in January 2026 compared with the same month in 2025, the agri-food sector fell by -7.7%, a figure particularly weighed down by the sector 26.4% drop in the United States. These figures confirm the full complexity of the current period, as highlighted in the commentary by president of Ita - Italian Trade Agency Matteo Zoppas.
“After the growth recorded in 2025 (+3.3%), Italian exports in January 2026 fell by 4.6% compared to January 2025. The contraction affects both areas: the decline is more pronounced in non-European markets (-5.5%) than in EU markets (-3.9%). At a sector level, again in January 2026 compared with January 2025 - explains Zoppas - the sharp reduction in exports of coke and refined petroleum products (-38.2%), the downturn in machinery (-7.3%) and the decline in the agri-food sector (-7.7%) weigh significantly. Metals and metal products (+17.1%) and pharmaceuticals (+5.9%) continue to support foreign sales confirming the ability of some sectors to react even in a complex cyclical phase”.
Ita further explains that “the main destination markets are declining, including the United States (-6.7%) - particularly affected by a contraction in the agri-food sector of -26.4% - Germany (-4.8%), France (-7.5%) and the United Kingdom (-12.3%). Positive signals are confirmed from markets such as Switzerland (+15.5%) and China (+14.6%), as well as from other European partners such as Austria (+5.1%)”.
A positive element comes from the reduction in the energy deficit, which in January 2026 fell to 3.5 billion euros from 4.7 billion euros a year earlier contributing to improve the overall picture of the trade balance. This result fits into a context of progressively strengthening energy security and increased focus on diversifying supply sources.“In January 2026 compared with December 2025, sales of capital goods (-3.4%) and energy (-8.3%) declined, offset by sales of consumer goods (+1.7%) and intermediate goods (+1.6%), resulting in an overall near stagnation (-0.1% in January 2026 compared with December 2025). In this scenario - concludes Zoppas - it becomes even more important to strengthen the presence of Italian companies in the high-potential markets identified by the Export Action Plan promoted by the Ministry of Foreign Affairs and Minister Antonio Tajani. Ita will continue to support companies, particularly Smes - through promotional activities, the development of commercial networks and business-matching initiatives, in order to turn these opportunities into tangible results”.