Italian exports are set to grow at an annual rate of 4% from this year until 2020, when they are expected to amount to nearly €490 billion, a report by Italian credit agency SACE shows. This is a step-up compared to the 1.7% growth seen in the previous four years. The picture is outlined by the “Italy Unchained” report that SACE will present today at the Italian stock exchange in Milan. Italy is set to close 2017 with foreign sales totaling €433 billion (compared to €417 billion in 2016). That will rise to almost €450 billion in 2018 and €468 billion in 2019. According to the SACE analysts, the figure will reach €489 billion in 2020.

For this year, Italian exports will grow thanks to traditional markets in Europe, North America and Asia. The best performance is expected in North America (+4.9%), driven by the United States – and followed by Asia (+4.6%), where the best prospects will be in China, India, and Indonesia. Advanced markets in Europe also hold good prospects (+3.4%, with €41 billion in exports estimated from now up to 2020), and emerging markets in Europe (+2.9%). Growth is seen at 2.1% this year in the Middle East and North Africa, despite the geopolitical and economic difficulties.