sace export forecast 2010-2014

2010 - 2014 Export Forecast

the change is afootThe outlook for Italian exports

On the cover:

Thomas Struth

Audience 10

Florence, 2004

chromogenic color print 179,5x304,0cm

©2010 Thomas Struth

December 2010

THE CHANGE IS AFOOTThe outlook for Italian exports

2010 - 2014 Export Forecast

This report, coordinated by Camilla Cionini Visani, was written by Alessandro Terzulli, Eleonora Padoan, Federica Pocek and Valentina Cariani, members of the SACE Economic Research team.

SACE wishes to thank Gloria Bartoli, lecturer on Global Macroeconomic Trends at the LUISS University in Rome.

Chapter 5 was written by Prometeia, under the supervision of Giuseppe Schirone.We wish to thank Andrea Dossena, Carmela Di Terlizzi and Giulia Della Rocca for their help.

SACE wishes to thank Oxford Economics for their assistance with the forecasting model.

CONTENTS

1 Executive summary 5

2 Recovery, risks and Italian exports 14

2.1 The macroeconomic picture: after the “rebound” 14

2.2 Italian exports: a changing structure 18

3 New and traditional landscapes 23

3.1 Asia and Latin America: two important drivers 23

3.2 The Mediterranean countries 25

3.3 Broadening horizons in Sub-Saharan Africa 28

3.4 Different faces for Emerging Europe 30

3.5 Advanced countries: light and shade 33

4 The puzzle of sectors 36

4.1 Intermediate goods benefit of industrial recovery 36

4.2 Capital goods: slower but growing 39

4.3 Agricultural and consumer goods: more moderate growth 42

5 Focus: mechanical engineering 46

6 Geographical and sectoral coordinates 51

7 If the euro appreciates 61

References 64

Appendix 1: The Italian trade model (ITRADE) 65

Appendix 2: Prometeia forecast 67

Appendix 3: Detailed tables of forecast exports 69

5

The ratio of world trade to GDP has risen in recent decades and now, after

rebounding following a dip connected to the financial crisis, it is set to

accelerate. World trade is expected to have advanced 12.5% in 2010, an

increase that far out paces the 4.4% growth in world GDP (4.4%).

Fig.IWorldtradeandgrowth

GDP (PPP)World trade15

10

5

0

-5

-10

-15

% ch

ange

2000 2001 2004 2005 2006 2008 2009 2010 2011 2012 2013 2014200720032002

Source: Calculations by SACE based on Oxford Economics data.

States intervened to save the markets, now who’s going to save those states? The EU and IMF have adopted measures to enable Greece

and Ireland to avert bankruptcy. The countries of Western European have

implemented restrictive fiscal policies to control large government deficits

caused by increased spending to save banks and to finance anti-crisis support

measures. Companies are still not working at full capacity and consequently

unemployment remains high. While credit availability has improved, there is

still a shadow of concern over the economic recovery and banks continue to

exercise greater selectivity in the face of an increase in non-performing loans.

All of these factors contribute to the risk of a slowdown in world growth, which

is forecast to stand at 4.4% in 2010 and 4.2% in 2011. Financial markets will also

remain in flux due to the tension created by growing public debt.

Risk of a slowdown in world growth.

“The pessimist sees difficulty in every opportunity; the optimist sees the opportunity in every difficulty”

Winston Churchill

1. EXECUTIVESUMMARY

6

1. EXECUTIVESUMMARY

More volatile exchange rates also constitute a risk. There is downward

pressure on the dollar, following the Federal Reserve’s use of “non-conventional”

monetary policies to increase the money supply. These measures, and the

Chinese exchange rate management have led to an increase in the value of

currencies such as the yen, the Brazilian real and other emerging currencies

that float freely. The euro responded quickly to America’s monetary policies

but also to important weaknesses in the eurozone. The USD/EUR exchange

rate is expected to average 1.30 in 2011 and in 2012. Unless there is some form

of international coordination some in the foreign exchange market, countries

could resort to protectionist measures that would hamper the economic

recovery.

The full recovery of Italian exports of goods and services will arrive in the first quarter of 2013 when the value returns to the level reached in the first

quarter of 2008. Following a 19.5% drop in sales of goods and services in 2009,

these are forecast to grow by 7.1% in 2011. Exports of goods will increase by an

average of 8.3% in the three-year period, a faster pace than what is expected

for services. This growth will not be enough to prevent Italy from gradually

losing market shares.

The change is afoot.

Although exporters were badly affected by the crisis, there have been signs of reaction, with evidence of a shift in focus towards high-

growth markets. This does not apply across the board, but only to enterprises that had restructured prior to the crisis.

According to some preliminary findings of surveys conducted by Banca d’Italia, these companies were less exposed

to the slump in demand and the drop in profitability. The crisis did not manage to cancel the positive effects of the restructuring.

Italian exports of goods: +8.3% in

2010-2011.

7

The geographical spread of exports will change, albeit more slowly than the

shift in world trade. The share of exports to advanced countries will continue to

fall (from 61% in 2009 to 58% in 2014); the weight of the “advanced” emerging

economies, which include the BRIC countries and, among others, Turkey, South

Korea and Poland, will increase. Intermediate and capital goods are expected to

account for a greater share of total exports (rising from 27.3% to 30% and from

40.7% to 41.5%, respectively), while in the weight of consumer goods will be

restrained.

Credit insurance can help sustain these changes. Italian exports will look

increasingly to emerging markets where it will be important for commercial

offerings to include risk coverage and competitive financing packages.

Financial and insurance products can make it easier for companies, especially

smaller ones, to get access to credit to fund their internationalisation projects.

The perception of “Made in Italy” is also an issue. According to a recent

study by the ISPO research centre, both importers and Italians alike consider

food and wine, fashion and fashion accessories to be the most representative

Italian products. This perception gives only partial insight into the strengths

of Italian exports, which also perform well in less traditional sectors where

growth will speed up in the coming years.

The “advanced” emerging markets will offer the best prospects for more traditional Italian products (table I). The expected growth will

be well above average in all three of the more traditional sectors: food

and beverages (average growth of 6.4% in the five-year period 2010-

2014), furniture (+7.3%) and fashion (+6.7%). There will also be some good

opportunities in the emerging markets that are just embarking on the early

stages of development. The fashion sector shows a varied picture. Demand

for luxury goods, especially accessible luxury goods, will grow quickly. At the

same time, exports of more standard products will be exposed to harsher

local competition. The demand for fashion products will continue to wane

in advanced countries, although demand for high-end luxury and accessible

luxury goods will be relatively stable.

The crisis: impact on companies, markets and sectors.

8

1. EXECUTIVESUMMARY

Table1.OutlookforItalianexports*Advanced Advanced Emerging Emerging

Made in Italy

Food and beverages

Furniture

Fashion

Luxury not significant

Accessible luxury not significant

Standard

“New” Made in Italy

Mech. engineering

Extremely positive Positive Negative Extremely

negative Stable

*Forecast period 2010-2014. This qualitative data is based on expected growth rates for each area with respect to the world.Source: SACE.

The “advanced” emerging economies will also be an important driving force for Italian capital goods, including mechanical engineering. The

development of stronger industrial capabilities by these countries will further

boost Italy’s leadership in many machinery and equipment building industries.

Growth will not be as dynamic in the emerging markets, where the increase

in Italian exports will fall slightly short of the world average (+6.3% in the five-

year period 2010-2014). Demand in industrialised countries is a more complex

picture and will mainly be driven by the need to replace equipment rather

than to expand production plants. However, in some individual markets, such

as Germany and the U.S., Italian exports will continue to enjoy brisk growth.

The scenario is somewhat varied for the Italian industrial districts. Up until

now those specialised in food products have enjoyed the fastest recovery, along

with some fashion districts, although performance is extremely variable with

complete recovery by some and others lagging far behind. Notwithstanding

some good results in 2010, the outlook for foreign sales of tiles is uncertain due

to difficulties affecting property markets in several key economies. Exports by

districts specialising in furniture and mechanics continue to be slack, with the

prospects for the latter somewhat brighter.

Italian exporters will look

increasingly to “advanced”

emerging markets.

9

Global recovery is geographically fragmented, reflecting the diverse impact of the crisis. The best performance will be achieved by the emerging

markets of Asia and Latin America, where GDP will grow at an average rate of

8.7% and 4.6% respectively in 2010-2012. The Middle East and North Africa

are enjoying stronger economic growth thanks to increased government

spending. With the introduction of economic reforms and robust demand for

raw materials, the economic outlook for Sub-Saharan Africa is good, despite the

severe shortage of infrastructure. Emerging Europe, one of the areas worst hit

by the crisis, is benefitting from a rise in international trade, although domestic

demand continues to be weak. Recovery in the advanced countries is slower

and more diversified: the U.S. appears more reactive than the eurozone but

both are burdened with high fiscal deficits.

It will be some time before the increase in middle-class consumers in the emerging economies, especially in Asia and Latin America, has any effect on consumption levels. As incomes rise over the next few years, there

will be more people in the middle class, although their incomes will not be

high enough to enable them to buy sophisticated consumer goods. In order

to benefit from an increase in demand, exporters will have to focus on upper

middle class consumers, and adapt their products to their purchasing power

and local needs.

Emerging Asia and Latin America will also drive growth of Italian exports (average growth of 10% and 14.2% respectively for 2010-2012). After

contracting very slightly in 2009, Asia continues to be Italy’s third-biggest

export destination thanks to well-established markets such as China and India

(average growth of 13.1% and 12% respectively for 2010-2012), as well as

developing economies such as Indonesia and Malaysia. In Latin America, where

sales recovered at a decidedly positive pace in 2010, exports to Brazil will enjoy

substantial growth (average growth of 16.9% for 2010-2012) thanks to the

surge in demand for manufactured goods and mechanical engineering. Chile is

also a fast growing market worthy of note (11.1%).

Asia: middle class from 23% to 40% by 2020.

Exporters are looking to new markets alongside traditional destinations.

10

1. EXECUTIVESUMMARY

While all of the Africa has reacted positively, the Middle East is paying the consequences of the property bubble. In North Africa, where the average

growth rate for 2010-2012 is 7.6%, Italian exports are driven by demand from

Tunisia, particularly for intermediate goods. The outlook for Algeria and Libya

is also good. The gradual urbanisation of Sub-Saharan Africa represents an

opportunity for Italian exports, which will rise by an average of 7.4% in 2010-

2012. However, sales are concentrated in three countries, Angola, Nigeria and,

above all, South Africa. Export growth to the Middle East will be shrink again in

2010 (-2%), before starting to recover in 2011-2012 (+5.8%). Saudi Arabia and

Qatar will continue to be the most dynamic markets.

Exports to the advanced markets and to emerging European countries will recover more slowly, by 7% and 8.4% respectively in 2010-2012. It will be some time before the advanced markets recover to pre-crisis levels,

enjoyed before the sharp fall in demand. The performance of exports to Europe

will vary. The recovery of production in Germany will boost Italian exports,

especially of intermediate goods. Exports to Belgium, France and Sweden will

grow faster than the regional average. Demand in the U.S. has benefitted from

Exports to Africa will grow by an

average of 7.5% in 2010-2012

Fig.IITopexportersbyregion

0 5 10 15 20 25 30

Brazil

Turkey

Tunisia

China

Nigeria

Germany

Russia

United States

Czech Republic

Qatar

% change, in value

2010 2011 2012-2014

Source: SACE.

11

the depreciation of the euro against the dollar at the end of 2009. In emerging

Europe, Turkey and Russia continue to be strategic markets, with average

exports in excess of € 7 billion. even with a slower dynamic than in previous

years (average growth of 7.1% for 2010-2012), the country will still be the main

destination market in the region.

Intermediate and capital goods will drive Italian export growth. As good

predictors of future activity, the former have reacted to signs of recovery of

industrial activity. On average, intermediate goods exports will rise significantly

(11.3%) during the three-year period 2010-2012, exceeding the overall rate for

goods (8.3%). Exports of intermediate goods will be driven by mineral products

(13.9%) and chemicals-pharmaceuticals (12.3%). World demand for capital

goods will peak in 2012-2013, with the complete recovery of investment activity

in the advanced markets. Italian exports in this sector will rise by an average of

8.7% in 2010-2102, in line with last year’s forecast. Economic recovery will bring

opportunities for electrical equipment and mechanical engineering, which in

2012 will rise above pre-crisis levels.

Fig.IIIGrowthofItalianexportsbysector

0 2 4 6 8 10 12 14 16 18 20

Mineral Products

Chemicals

Plastic and rubber

Metals

Electrical Equipment

Transport Equipment

Mechanical Engineering

Wood

Food and beverages

Textiles & Clothing

% change in value

2010 2011 2012-2014

Source: SACE.

Capital goods will pick up from 2012.

12

1. EXECUTIVESUMMARY

Agricultural and consumer goods will show more moderate growth, increasing by 5.7% and 4.9% respectively over the 2010-2012 forecast period.

The agri-food sector approach ed pre-crisis growth already in 2010. Consumer

goods will grow more slowly due to increased competition from Asia. Exports

of textiles and clothing will grow no more than 5%, but the recovery will award

those companies which implemented restructuring projects prior to the crisis

and those exporters operating in accessible luxury goods.

Mechanical engineering will continue to be one of the pillar of Italian exports. Despite a significant drop in sales, Italy remains a key player in this

field. As the world fourth-biggest exporter of mechanical engineering with a

9% market share, Italy’s success in this sector is based on it’s ability to integrate

traditional aspects of machinery production (good quality and high-level

specialisation and customisation) with marketing strategies that have proved

crucial. In addition to the traditional import markets of France, Germany and

China, Italian mechanical engineering exporters are looking increasingly

towards new markets such as Russia, Poland and Turkey, where demand

is dynamic even in difficult times. According to Prometeia, this sector will

experience average growth of 7% in 2011, with machine tools (+6% in 2010

and +7% in 2011) and machinery for the food industry (+4.6% in 2010 and

+4.5% in 2011) attaining the best results.

The forecasts for Italian exports have highlighted promising opportunities for certain sectors in some geographical areas (Table II). Average growth

rates for these combinations over the three-year period 2010-2012 are: 19.4%

for rubber and plastic in Turkey; 15.6% for mechanical engineering in Brazil;

14% for electrical equipment in China; 12.3% for chemicals in Germany; 7.5%

for wood in Russia. Other markets are potential sources of opportunity, with

sales in specific sectors currently fairly low but growing fast. Average growth

rates for these combinations over the three-year period 2010-2012 are: 13.7%

for electrical equipment in Malaysia; 11.4% for mechanical engineering in Chile;

11% for means of transport in South Africa; 5.9% for textiles and clothing in Egypt.

Machine tools and machinery

for the food industry are the top performers in mechanical

engineering.

13

TableIIOpportunitiesbygeographicalareaandsector

Rating 2010 2010 2011-12Country - Sector SACE € bn % change % change Opportunities

Russia - Wood M2 890.4 9.3 6.6 Furniture for the tourist sector

Egypt - Textiles and clothing M2 97.0 5.4 6.2 Yarns and textiles

Germany - Organic chemicals L1 3,777.6 18.9 9.1 Pharmaceuticals and organic chemicals

Turkey - Plastic and rubber M2 524.5 29.7 14.3 Motor vehicles and manufactured goods

Tunisia - Metals M1 388.3 30.0 11.9 Copper products

Brazil - Mechanical engineering L3 1,297.8 23.9 11.5 Machinery for industry

Chile - Mechanical engineering L3 281.8 19.5 7.4 Machinery for building infrastructure

China - Electrical equipment L3 629.1 20.0 11.1 Expansion of the power sector

Malaysia - Electrical equipment M1 122.9 24.2 8.5 Input for component production

South Africa - Means of transport L3 133.9 14.5 9.3 Motor vehicles and components

Source: SACE.

We cannot rule out the possibility of a stronger euro, although this is less likely than the baseline scenario despite the increased volatility of

exchange rates linked to uncertainty about public finances in some of the

region’s weakest markets. A 10% appreciation of the euro against the dollar in

2011, with a relatively stable exchange rate the following year would produce a

two percentage point fall in the growth of the value of goods exported for the

two-year period 2011-2012 (which would decrease from +7.4% in the baseline

scenario to +5.1%). Should China decide to speed up the revaluation of the

yuan, this impact of the weak dollar would be mitigated and the reduction in

the value of exports would be only 1.6 percentage points. Exports of consumer

goods would be most negatively impacted, especially in the fashion sector, as

well as sales of goods to North America and the Middle East.

A strong euro would put consumer goods at risk.

2. RECOVERY,RISkSANdITAlIANEXpORTS

14

2.1 The macroeconomic picture: after the “rebound”

World trade volumes recorded a year-on-year increase of 18.4% in the first eight months of 2010; in August the relative index was only 2% short

of the peak level reached in 2008 (Fig. 1). Just as the sharp fall in this variable

worsened the recession in 2009, now it is a crucial element for overcoming the

crisis. However, while imports by emerging markets had already fully recovered

by the beginning of the year, demand in advanced countries remains slack.

Among the former, sales to Asian countries picked up quickly, a sign of renewed

dynamism in intra-regional trade of components, semi-finished products and

raw materials. Sales to Latin America have also shown brisk growth, while

those to Central and Eastern Europe, Africa and the Middle East have not yet

recovered to pre-crisis levels.

Fig.1Worldtradeandforeignorders*

170

160

150

140

130

120

110

70

60

50

40

30

20

Inde

x, 2

000

= 10

0

Di�u

sion

Inde

x

World trade (LH scale)PMI new foreign orders (RH scale)

20082007 2009 2010

* On the PMI index, marks above 50 indicate expansion.

Source: Calculations by SACE based on CPB Netherlands and JP Morgan data.

There are signs of a slowdown in demand. The global Purchasing Managers’

Index (PMI) for new foreign orders - which is a very good predictor of trends

in trade - remained above 50, which indicates expansion, but began to fall

during the summer. Starting from mid-2009, manufacturers began restocking

and public demand increased, fostering expansion. This is now slowing

due to slack economic growth and the worsening of public finances in the

industrialised countries.

World trade recovering well.

15

The improvement in overall financial conditions is also reflected in the trade finance segment, in terms of reduced counterparty risk and lower costs

of credit for international trade and the relative insurance policies. However,

credit continues to be more expensive and more difficult to access than in

2007, due to ongoing vulnerability in the financial sector. According to a

survey by the International Chamber of Commerce, involving 161 banks in 75

countries, 86% of those interviewed forecast that commissions for confirmation

of letters of credit would remain stable at the highest levels reached in 2009. In

international trade loans, liquidity premiums will continue to be relatively high.

The forecast that world trade of goods will expand below the historical mean supports the hypothesis that post-crisis growth will be slower than

pre-crisis growth. After growing by an estimated 13% throughout 2010, due

to the effects of the rebound, trade volumes will increase by 7% in 2011 and

at less than 9% (the average rate for 2004-2007) during the following years.

This scenario reflects previous experiences of economies hit by a financial

crisis. As the IMF has pointed out, such crises produce longer-lasting negative

effects on international trade, due to worsening credit terms and more volatile

exchange rates.

There is the risk of a downswing in economic activity. Our baseline scenario

envisages a rise in world GDP, in terms of purchasing power parity, of 4.4%

in 2010 and 4.2% in 2011, before accelerating in 2012 but remaining below

the 5% rate of 2006-2007. Growth is being seriously hampered by reduced

use of productive capacity and high unemployment rates in the advanced

countries. The latter variable has stabilised in recent months, but remains high.

The unemployment rate in OECD countries is 8.5%, with 45 million people out

of work. The unemployment rate is 9.6% in the U.S. and around 10% in the

eurozone. No significant improvement in these figures is forecast for the short

term. It will be at least two years before unemployment rates fall below 8% and

9.5%, respectively, in these two regions, with subsequent negative repercussions

on available income and consumer spending. The effects of restrictive fiscal

policies, which have already been introduced in Western Europe, will also be

felt at a time when private demand is not yet strong enough to compensate

for reduced public spending. Public finances must be shored up because, even

assuming reduced deficits, in the advanced economies the ratio of public debt

to GDP will increase from 74% in 2009 to 86% in 2015.

“Liquidity premiums” remain high.

Unemployment and public debt are hindering economic activity.


16

1 Cf. C. Reinhart and V. Reinhart (2010).2 At the meeting of 3 November 2010, the central bank announced the purchase of more long-term U.S. Treasury Bonds for $ 600 billion up to the end of the first half of 2011 (approx. $ 75 billion per month), and confirmed that it would reinvest repayments on its holdings of securities.

Credit and the relative terms will improve, but remain weak. Banking

crises are generally preceded by a substantial increase in domestic credit in

relation to GDP: based on mean data for 15 previous crises, we can expect a

40% reduction1. It is therefore necessary to reduce the level of debt and bring

bank capitalisation into line with new requirements, which are currently being

defined, in order to return to a more brisk expansion of loans. Demand by

companies remains weak due to uncertainties about economic recovery and

banks continue to be more selective as they face a significant increase in non-

performing loans in almost every western country (Fig. 2).

Fig.2Non-performingbankloans*

5.0 5.7

4.5 4.8

6.1

5.7

7.9

4.7

6.5

6.8

5.5

5.4

10.9

12

10

8

6

4

2

0

Aust

ralia

Cana

da

Fran

ce

Germ

any

Gree

ce

Irela

nd Italy

Japa

n

Portu

gal

Spai

n

Switz

erla

nd

Unite

d Ki

ndom

Unite

d St

ates

% o

f tot

al lo

ans

2008 2009/2010*

* The numbers in the graph indicate the ratio, as a percentage, between capital and total assets for the banking system; for 2009/2010 the last available figure for each country is shown.

Source: Calculations by SACE based on IMF data.

The risk of a downturn is also related to trends in exchange rates and the relative volatility. Our assumptions are based on an exchange rate of 1.30 euro

against the dollar in 2011 and 1.27 in 2012, but the so-called “currency wars”

will accentuate exchange rate volatility, as will China’s exchange rate policy,

aimed at sustaining the country’s exports, and America’s response. The Federal

Reserve has decided to purchase more long-term Treasury bonds which will

increase the monetary base and probably depress the dollar exchange rate2.

The effects might be influenced by the reserve role of the U.S. dollar, as borne

out by the flow of international capital towards the dollar during the crisis that

originated in the United States.

Non-performing loans, a problem

for banks.

17

U.S. monetary policy and Chinese exchange rate practices will both foster the appreciation of exchange rates of currencies such as the euro, yen, Brazilian real and other free-floating currencies. In terms of bilateral

nominal exchange rates, for 2010 the yen, the Swiss franc and the euro are

estimated to be more than 10% overvalued - compared to the equilibrium

rate - with record values for the yen (Fig. 3). This will have an even stronger

impact in the emerging economies like Brazil, Turkey and South Africa. For all

these countries, the loss of competitiveness due to currency appreciation will

negatively impact exports. Some consider the Chinese yuan to be undervalued

by as much as 27% against the dollar (20% according to our calculations),

despite the return of “managed flexibility” in June 2010, immediately prior to

the G20 summit in Canada.

Fig.3DifferencesbetweentheexchangeratewiththeUSDandtheequilibriumlevel

%

-30 -20 -10 10 20 30 400

Brazil

Turkey

South Africa

Euro area

Switzerland

Japan

Russia

Mexico

India

United Kindom

South Korea

China

2009 2010 estimeed

Source: Calculations by SACE based on Oxford Economics data.

Currency tensions will lead to an increased risk of protectionist policies. Attempts by Japan and Switzerland to depreciate their exchange

rates, albeit in accordance with international regulations, have proved

unsuccessful. The emerging economies, where exchange rates appreciated

following adjustments to the rates of countries, whose currencies are almost

inconvertible, have seen substantial capital inflows and have started to control

The gap between exchange rates and equilibrium levels is widening.

The currency war, a new form of protectionism?


18

3 Cf. Eichengreen (2010).

capital movements to curb these inflows. Brazil introduced a 6% tax on

financial capital inflows. A series of competitive devaluations could negatively

impact international trade as a whole, since they have the same effect as the

introduction of export subsidies or import duties3, with the risk of every country

adopting protectionist measures, like in 1931, thus worsening the ongoing

financial crisis. The alternative is some form of international coordination;

the G20 summit held in November 2010 aimed to increase the flexibility of

the yuan exchange rate and curtail imbalances between trade surplus and

deficit nations. This objective was not reached. Moreover, the problem of an

international monetary system that is not based on a national currency such

as the dollar has not yet been resolved.

2.2 Italian exports: a changing structure

In terms of value, Italian exports of goods and services will recover fully at the beginning of 2013. The peak recorded in the first quarter of 2008

will not be exceeded until the first quarter of that year (Fig. 4). Italian exports

fell to their lowest in the second half of 2009, dropping to levels recorded in

early 2005. Under current conditions, foreign sales will be 11% higher than

their lowest point last year and fall 15% short of their pre-recession peak. After

dropping by 19.5% in 2009, exports are expected to grow by about 9% in 2010

and then slow to about 7% over the following three years, on average one

percentage point lower than the growth rate for 2004-2007. This trend will

benefit from price increases, while volumes of exports will grow more slowly

and will not recover until 2014. However, this will not prevent net exports from

making a positive contribution to real GDP in 2010 and 2011, even though

growth in exports will remain slower until 2012.

Exports of goods and services +

9% in 2010 and +7% in 2011.

19

4 This factor lies at the heart of the German trade surplus which constitutes a problem for market equilibrium within the eurozone. Increased productivity ought to have led to increased salaries and higher prices and appreciation of the country’s real exchange rate. This was not the case, and this has had negative effects on growth throughout the eurozone. Cf. De Nardis (2010).

Fig.4Italianexportsofgoodsandservices

450

400

350

300

250

200

150

100

50

0

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

Inde

x, 1

990

T1=1

00

Volume Value

Source: SACE.

In terms of value, foreign sales of goods will increase faster than those of services, , which have been less exposed to the effects of the crisis. In

2009 exports of services fell by around 13%, eight percentage points less than

goods. While in 2010 and 2011 exports of goods will increase at a significantly

faster rate, they will grow at more similar rates during the following years, with

services performing just slightly better. Exports of goods are forecast to rise by

10% in 2010, slowing to 8% in 2011 and standing between 6% and 7% over

the following years. Italy will continue to gradually lose shares of the market.

The weight of goods as a proportion of total exports will remain unchanged, at

slightly more than 81%; this is less than in France and Germany, where goods

account for around 90%, and more than in the UK and the U.S., where they

account for approximately. 60% and 70%.

The outlook for Italian exports is different from that for its main competitors. The value of Italian sales of goods abroad is forecast to grow

at a slower pace than that of goods sold abroad by Germany and the U.S.,

in line with France and other non-EU export-led countries such as Canada

and Japan. The German economy is reaping the benefits of a significant

increase in industrial productivity4 that took place between 2002 and 2006.

In the U.S., we await the effects of the new exchange rate and to see the

impact of an economic policy aimed at doubling exports, to reduce the trade

balance deficit.

Export of goods are losing ground.


20

5 These include the BRIC countries plus Poland, the Czech Republic and Slovakia, Turkey, Mexico, Hong Kong, South Korea,Singapore and Taiwan.

Italy’s competitive edge has been eroded, not only by lower productivity, but

also by higher inflation than in the rest of the eurozone and the strengthening

of the currency has limited trade with the rest of the world.

Italian exports continue to address more geographically diversified areas, but this change is not keeping pace with the shift in world trade. In 2009

advanced economy countries absorbed more than 61% of Italian exports. By

2014 this will have fallen to 58% (Fig. 5). Italian exports to the more “advanced”

emerging economies5 are expected to show average growth of more than 9%

in 2010-2014, three percentage points higher than sales to more traditional

markets. However, foreign sales to emerging markets strictu sensu of the term

will be closer to the overall growth rate; the weight of these countries will

remain unchanged between 2009 and 2014, at around 11%. The scenario

presents some innovative aspects for Italy, both in terms of the faster growth

of exports toward the biggest emerging markets, such as China, and in terms

of more dynamic approach towards lesser-known destinations.

New indications for destination

markets.

Fig.5Italianexportsofgoodstoadvancedandemergingcountries*

World "Advanced" EmergingAdvanced Emerging20

15

10

5

0

-5

-10

-15

-20

-25

-30

% ch

ange

20102009 2011 2012 2013 2014

100

100

61.3 11.6

57.8 11.1

15.9

17.3

* The numbers in the graph indicate the weight as a percentage of total exports of goods. Each area is defined on the basis of the 54 countries included in the study; the sum of shares for these areas is thus less than 100.

Source: SACE.

21

6 Cf., in particular, Barba Navaretti, Bugamelli et al (2010).

Positive indications come from the “most active” internationalisation processes. Net foreign direct investments (FDI) by Italy amounted to over

€ 31 billion in 2009, exceeding the previous year’s figure. This went against

world trends. World FDI outflows contracted by 43% to € 790 billion. This

downturn was widespread across the advanced countries. When considering

foreign investments by Italian companies it is important to remember that

these are often smaller than their counterparts in competitor countries6.

However, Italian FDI abroad are projected to increase and stabilize around

€ 33 billion untill 2014. This will foster greater diversification in markets even

further afield.

The structure of export sectors will also change. The main groups of

industries will grow at different rates, with intermediate goods - which are

driving the current economic recovery - recording the fastest growth, albeit

slowing gradually over the following years (Fig. 6). There will also be a marked

increase in the value of capital goods exports, though falling short of the

double-figure rate seen in 2006-2007; this will grow at an average of between

9% and 10% in 2010-2011, before levelling at 7%. Expansion will be slower for

agricultural goods, which will grow at an average rate of 5.5%, slightly below

the mean historical rate and changing very little. Consumer goods exports are

not likely to grow at a rate of more than 5% during the forecast period. These

increases will result in an increased weight of capital and intermediate goods

(whichh will rise to 41.5% and 29.9%, respectively, in 2014) compensated for

by a reduction in the share of total consumer goods exports.

Good prospects for growth in Italian FDI.

Greater weight of capital and intermediate goods.


22

Fig.6Italianexportsofgoodstoadvancedandemergingcountries*

Total goods IntermediateAgricultural Consumer Investiment20

15

10

5

0

-5

-10

-15

-20

-25

-30

% ch

ange

20102009 2011 2012 2013 2014

100

100

8.5 27.3

40.7

7.7 29.9

23.5

20.9 41.5

* The numbers in the graph indicate the ratio, as a percentage, between exports of industry aggregates and total exports of goods.

Source: SACE.

Export credit insurance can help to speed up the transformations involved. The structure of Italian exports will increasingly but very gradually

focus on demand from markets that carry new and greater risks and will also

be conditioned by the need to grant more extended terms of payment. This

is our traditional area of business. SACE supplies products which can add

considerable value to the financing packages that accompany commercial

offerings. They can also make it easier for companies to get access to credit,

especially smaller companies whose internationalisation projects are limited

by their financial obligations.

The role of SACE.

3. NEwANdTRAdITIONAllANdSCApES

23

7 Asian Development Bank and Inter American Development Bank data.

3.1 Asia and Latin America: two important drivers

The emerging economies of Asia and Latin America withstood the international crisis remarkably well and are seeing brisk recovery. The

slackening of world trade, the weakness of key trade partners such as the U.S.,

waning market confidence and the subsequent contraction of capital inflows

were the most immediate consequences of the crisis in these two regions and

the main factors that triggered the slowing of their economies. However, their

governments reacted quickly. The adoption of public investment programs

(by China and India, for example, but also by smaller countries such as Peru

and Indonesia) and schemes to boost private spending (India and Brazil),

accompanied by a gradually improving global economy, enabled these

countries to achieve a full recovery of economic activity by the end of 2009.

Thanks to macroeconomic stability and having built up their financial strength

in recent years, both regions performed reasonably well even in the middle of

the crisis. In 2009 GDP increased by 6.8% in emerging Asia, spurred by growth

in China. In South America GDP fell slightly, by -1.7/%7.

For 2010 the forecast is for sustained growth in Asia (9.3%) and South America (5.7%), albeit with significant differences. In Asia, Chinese industrial

activity is the regional powerhouse for other sectors related either directly (raw

materials, manufactured goods, energy) or indirectly (mechanical engineering,

services). A number of other markets, much smaller than China and India, but

with positive growth trends, are also gaining importance in Asia (Indonesia,

Vietnam and Malaysia). Recovery in Latin America is more varied and linked

to the driver markets (Brazil, Columbia and Chile), which have picked up

quickly. Economies linked to the economic cycle of the U.S. (Mexico) and with

less diversified structures, will recover more slowly. In the medium term, the

two areas have some important factors in common the Italian exports could

benefit from. The expanding middle class will have a positive impact on

private consumption in Asia and Latin America (for instance in China, 12% of

the population is in the middle class but currently only accounts for 3% of the

world’s consumer goods) while strategic public investments will increase the

appeal of some Asian and South American markets (Fig. 7). Strong economies

such as China, India and Brazil will continue to play an ever more important

role, alongside newer markets such as Indonesia and Vietnam in Asia and

Columbia and Peru in Latin America, which are becoming key players.

% growth Italian exports 2010 2011

Latin America 21.7 11.8

Brazil 26.3 14.1

Chile 16.9 8.8

Mexico 12.9 9.5

Asia 12.5 9.2

China 16.7 11.8

Indonesia 18.1 11.2

South Korea 11.5 7.9

The middle class will drive private consumption in the medium term.

Fiscal stimulus packages to sustain growth.

24


24

Fig.7Globalmiddleclassspending,%sharebyarea

a) 2009 b) 2020

Europe 39%

North America 26%

Latin America

7%

Asia 23%

Sub-Saharan Africa 1%

Middle East andNorth Africa 4%

Europe 29%

North America 17%

Latin America 9%

Asia 40%

Sub-Saharan Africa 1%

Middle East and North Africa 4%

Source: SACE calculations based on OECD data for 2010.

Different trends are forecast for Italian exports in the two regions. (Fig.

8) There was a 9.6% contraction in the value of Italian exports to Asia in 2009.

This figure includes the strong fall in exports to some markets (Indonesia -19%;

India -11%; Japan -12%), and the increase in exports to China (up 3%). Asia

remains the third most important destination for Italian goods and is expected

to maintain this position throughout 2010-2011. The prospects are brilliant for

exports to China, Italy’s biggest market in the region, where the forecast is

for a growth rate of 16% in 2010 and 11% in 2011. Italian exports to Malaysia

and Indonesia will grow at the fastest pace (+20% and +18%, respectively, in

2010 and +10% and +11% in 2011), although they will continue to be “less

important” markets in terms of the quantity of exports. The best growth rates

in the region will be in the metals and mechanical engineering sectors, thanks

to the recovery of industrial activity and investments by Asian companies.

Exports to all of the main countries of Latin America, Italy’s fifth-largest destination market, fell by 26% in 2009. The figures and forecasts paint a

somewhat variegated picture for 2010 and 2011: Brazil, the main market for

Italian exports in the region, will recover from and overcome the contraction

that occurred in the middle of the crisis (+26% in 2010 and +14% forecast

Malaysia, Indonesia and

Chile show dynamic

growth…

3. NEwANdTRAdITIONAllANdSCApES 3. NEwANdTRAdITIONAllANdSCApES

2525

for 2011) thanks to demand for finished products and mechanical equipment;

while reporting positive growth, exports to Mexico will not return to pre-crisis

levels (growing by about 10% in 2010 and 2011), due to delayed recovery of

industrial activity in that country, which depends heavily on demand from the

U.S.; the value of exports to smaller markets, such as Chile, will increase, by 17%

in 2010 and 8% in 2011.

Fig.8Italianexportsofgoodsbysector

20102009 2011 20102009 2011

Total goodsMetalsMechanical engineering

Total goodsMetalsMechanical engineering40

30

20

10

0

-10

-20

-30

-40

-50

% ch

ange

40

30

20

10

0

-10

-20

-30

-40

-50

% ch

ange

a) In Latin America b) in Asia

Source: SACE.

3.2 The Mediterranean countries

2010 ended with stronger economic growth in the Middle East and North Africa (+5.2%) compared to 2009 when the region’s economies maintained

positive but limited growth (+2.7%). These countries were affected by the

recession that hit the economies of European countries, their main trading

partners, which had repercussions in terms of trade, reduced income from

tourism and fewer remittances and foreign investments. On the other hand,

the oil-exporter economies were penalised by the drop in commodity prices

in international markets and the subsequent fall in income. However, countries

with less fiscal space and those able to count on income from energy resources

introduced support measures to stimulate domestic demand, especially

consumption levels, thus reducing the fiscal surplus (Fig. 9).

…as well as China and Brazil.


North Africa 7.4 7.8

Egypt 5.1 5.9

Libya 5.5 7.2

Tunisia 17.1 11.4

Middle East -2.0 4.2

Saudi Arabia 2.2 5.2

UAE -5.6 3.0

Qatar 0.5 5.8

26


26

8 United Arab Emirates, with specific reference to Dubai.

Fig.9BudgetbalanceinNorthAfricaandtheMiddleEast

Maghreb**GCC* Mashreq***

40

35

30

25

20

15

10

5

0

-5

-10

-15 20102008 2009 2011

Algeria KuwaitSaudi Arabia UAE Libya

% o

f GDP

* GCC (Gulf Cooperation Council): Saudi Arabia, Bahrain, United Arab Emirates, Kuwait, Oman and Qatar. ** Maghreb: Algeria, Libya, Mauritania, Morocco and Tunisia. *** Mashreq: Egypt, Jordan, Lebanon and Syria.

Source: IMF.

Increased public spending made it possible to launch large state investment programmes in Algeria, Saudi Arabia and Libya and sustain

companies hit hardest by the crisis8, in order to pursue economic diversification

while at the same time supporting strategic sectors. Expansive government

spending, which will continue in some cases into 2011, accompanied by rising

oil prices, will speed up economic growth in the region in 2011-2012 (+5.5%).

Italian exports to the region will also pick up again, but at different speeds in the Middle East and North Africa (Fig. 10). In 2009, Italian exports

to North Africa contracted less (-11.2%) than those to the Middle East (-25.9%).

Italian exports of goods to Algeria, Egypt, Libya and Tunisia are forecast to

grow by 7.4% in 2010, and by 7.8% in 2011. The outlook for Italian exports to

Tunisia is particularly favourable, with growth expected to exceed 17% in 2010

(+10% for 2011-2012). In particular, Tunisian demand for intermediate goods

is expected to grow, also driven by the fact that Italian and other foreign firms

are more and more often relocating to this country. Buoyant consumption

and private investments and the presence of a diversified industry sector

capable of reacting at the first signs of recovery are other positive factors.

Expansion of exports to Algeria and Libya is linked to government investments

Government investment is the

key to recovery.


2727

in infrastructure and the construction industry, which are driving sales of

intermediate and capital goods. After contracting again in 2010 (-2.0%), Italian

exports to the Middle East will start growing in 2011 (+4.2%), but without

reaching pre-crisis levels. Exports will be affected by the weakness of Italy’s

main market in the region, the United Arab Emirates (-5.6% in 2010), which

was hit badly by the Dubai real estate bubble. The forecast is for a moderate

recovery of Italian exports to Saudi Arabia and Qatar, fostered by government

investments in transport, residential building and energy, with an average

increase of 5.8% in 2011 and 7.1% in 2012.

Fig.10ItalianexportstotheMiddleEastandNorthAfrica(value)

% ch

ange

25

20

15

10

5

0

-5

-10

-15

-20

-25

-30

16,000

14,000

12,000

10,000

8,000

6,000

4,000

2,000

0

EUR

mill

ion

20102009 2011 2012 2013

North Africa levels (LH scale)North Africa % change (RH scale)

Middle East levels (LH scale)Middle East % change (RH scale)

Source: SACE.

MENA: exports for over € 18 billion in 2010.

28


28

3.3 Broadening horizons in Sub-Saharan Africa

Following the crisis, the forecast is for real GDP in Sub-Saharan Africa to grow by 4.9% in 2010, and 5.5% in 2011, exceeding the 2009 growth

rate (2.5%). The sub-continent was able to deal with the effects of the crisis

by establishing self-contained financial systems, adopting prudent fiscal and

monetary policies and thanks to the role of donors, international institutions

and bilateral lenders. The demand for raw materials by the emerging markets,

especially China, also mitigated the impact of weak demand from the

advanced countries and strengthened economic recovery. Positive growth

will not be restricted to the oil-exporter countries such as Angola, Nigeria and

Ghana. It will also be seen in countries with mineral resources, such as Namibia

and Botswana, or those with relatively diversified productive structures, such

as South Africa, Kenya and Mozambique.

Economic growth in the region will continue to be held back by the lack of national and regional infrastructure (Fig. 11). Governments have

allocated increasing amounts to the development of transport networks,

improvements to the generation and distribution of electricity and the

upgrading and distribution of ICT services. However, extra funds are needed,

compatibly with reduced tax margins as a result of the counter-cyclical

measures that have been adopted. Infrastructure construction projects,

frequently implemented in conjunction with IFIs, are not only essential for

economic growth and to increase domestic and regional trade, but also

represent interesting opportunities for international investors as they always

involve public/private partnerships.


Sub-Saharan Africa 6.9 7.9

Angola -13.1 3.2

Nigeria 13.8 9.0

South Africa 10.8 8.7

Funding infrastructure to

foster growth.


2929

Fig.11SpendingoninfrastructureinSub-SaharanAfrica

45

40

35

30

25

20

15

10

5

0

USD

bn, p

er y

ear

IrrigationICT Energy Transport Water supply andhealth infrastructure

Current expenditure Funding gap

Source: AICD.

Italian exports to Sub-Saharan Africa picked up better and faster after the crisis than those to other regions, having only contracted in 2008 (-4.4%)

and recovering to positive figures the following year (+1.3%). Although the

overall level of exports to this region is low, growth in 2010 should exceed pre-

crisis levels. In 2009 African demand for imported goods fell but Italian exports

held their ground and thus gained market shares. This trend will be reversed in

2010 due to more dynamic competition and the limited propensity of Italian

exporters to address these markets (Fig. 12). Italian exports to this continent

continue to be highly concentrated, with over half of all sales to just 3 of the

region’s 48 countries.

South Africa will reinforce its position as the main market for Italian exporters, drawn by the country’s expanding production capacity and the

size of its economy. Exports are expected to increase by about 11% in 2010,

driven by intermediate and capital goods. This will be followed by Nigeria

where, thanks to the petrol industry and an economy that is more diversified

than most in Africa, exports grew by 14% in 2009-2010, a trend that looks set

to continue in 2011-2012 (+8%). Angola is the only one of the three countries

where exports will decline in 2010 (-13.1%).

This follows extremely positive growth rates in 2009 (130.9%) and the

forecast is for renewed growth (+ 3.2%) in 2011. The gradual urbanisation of

Italian firms have yet to seize the opportunities associated with development in this region.

30


30

9 Characterised by the drop in real salaries and the high unemployment rate (8.2% in 2009).

the main countries in the region can also represent an opportunity in terms

of increased consumption and greater demand for goods and services. Effects of

urbanisation.

Fig.12Sub-SaharanAfrica:importsfromtheworldandfromItaly*

30

20

10

0

-10

-20

-30

% ch

ange

Imports from the worldImports from Italy

2008 2009 2010 2011 2012

*The aggregate for Sub-Saharan Africa refers to demand by Angola, Nigeria and South Africa.

Source: SACE; EIU Bureau Van Dijk.

3.4 Different faces for Emerging Europe

For emerging Europe, one of the regions hit hardest by the economic crisis, the forecast is for modest recovery over the two-year period 2010-2011. The recession was fuelled by external factors, such as reliance on capital

inflows from advanced Europe, and by internal aspects, such as financial

imbalance and growth based almost entirely on domestic demand. Growth is

expected to reach 3.9% in 2010 and 3.8% in 2011 (-6% in 2009), driven mainly

by the recovery of exports. Private domestic demand remains weak (Fig. 13)

especially in certain countries, due to: i) the weakness of capital flows, ii) lack

of investments due to build-up of stocks, iii) low consumption rates linked to

negative trends in unemployment9 which impact the wealth and confidence

of consumers. This will affect the growth of imports into the region. After

contracting by 19% in 2009, we should see a 10.7% increase in 2010 and then

5.4% in 2011, slightly below the average growth rate of 15% in 2003-2007.


Emerging Europe 8.4 8.0

Czech Republic 8.9 8.5

Russia 10.2 7.5

Slovakia 10.6 8.4

Turkey 24.1 14.1

Hungary 8.1 7.8

Recovery is underway but

private demand remains weak.


3131

10 The government intervened by injecting liquidity into the economy through the main public banks.11 High share of non-performing loans (9% of total loans) and low profitability (ROE 4.9%).12 Poland, the Czech Republic and Slovakia recorded average GDP growth of -2.4% in 2009 and 3.2% in 2010, while Bulgaria, Romania and Hungary recorded average GDP growth of -6.1% in 2009 and -0.4% in 2010.

Fig.13ChangesinprivatedemandinemergingEurope

15

10

5

0

-5

-10

-15

-20

% ch

ange

Hungary Bulgaria Poland Slovakia TurkeyRussiaAverage forEmerging Europe

Czech Rep.Romania

2009 2010 2011

Source: FMI.

The recovery in this region will be highly variable, with Turkey and Russia performing best in 2010. The banking systems in both countries took

the crisis in their stride, albeit in different ways. While Turkey was able to count

on a solid financial sector following IMF intervention after the 2001 crisis, in

Russia the state intervened to prevent its banking system from collapsing10

and avert the deterioration of the banks’ assets11. Net investment flows picked

up in both countries, thanks to renewed market confidence. Recovery in the

EU emerging economies reflects the diverse impact of the recession and the

“maturity” of their economies. Poland, the Czech Republic and Slovakia were

less severely affected and are now enjoying sustained GDP growth compared

to the rest of the region. Bulgaria, Romania and Hungary have suffered the

effects of significant underlying macroeconomic imbalances and failure by

the authorities to implement any effective measures during the crisis. Strong

economic recovery is not expected to begin until 2011 and will depend on

governments’ ability to make structural changes to their economies12.

The pattern in Italian exports to emerging Europe reflects the overall trend in the region’s economy. After contracting by more than 30% in 2009,

the value of total exports of goods is forecast to rise by 8.4% in 2010 (Fig. 14)

and at a similar rate in 2011 (8.7%). This is Italy’s second-biggest export market,

thanks to its geographical and cultural closeness. It accounts for an average

share of 12% of total Italian exports, a figure that will remain unchanged from

Russia and Turkey lead the field of emerging markets for Italian exports.

32


32

2009 until 2011. In Turkey, a particularly important market, total exports of

goods are expected to grow by 24.1% in 2010, following a contraction for the

same amount the previous year; growth should slow to 14% in 2011, although

sales will remain buoyant (€ 8 billion). Exports to Russia will also begin to grow

again. Sales to this traditionally important market fell by 38.1% in 2009. Exports

are forecast to rise by 10.2% in 2010, with amounting to € 7 billion.

Fig.14ItalianexportsofgoodstoselectedcountriesinemergingEurope*

* The numbers above the columns indicate export in value in 2010.

Source: SACE.

7 bn 1.7 bn 7.1 bn 3.1 bn 38.7 bn 2.6 bn 4.2 bn 8.2 bn30

20

10

0

-10

-20

-30

-40

% ch

ange

Turkey RussiaSlovakia Emerging Europe (average)

CzechRepublic

Hungary Romania Poland

2009 2010 2011

In 2010 the Czech Republic, Slovakia and Hungary continued to be increasingly important markets for Italian products, in terms of both

value and growth. The average value of goods exported to the three countries

was € 2.5 billion and exports increased by more than 9%. Good growth rates

are expected to continue in 2011, when the average value of exports to the

three countries is expected to be € 2.7 billion, with a growth rate of 8.2%.

Exports to Poland and Romania will recover more slowly, by 4.9% and 5.3%

respectively in 2010, representing sales for € 8.2 and € 4.2 billion, respectively.

Poland accounted for 21.1% of Italian exports in 2010 and remains the biggest

destination market in this region, having overtaken Russia in 2009; sales to

this country grew more slowly than those to other markets in the region in

2010, but should improve in 2011, increasing at a rate of 8.7%. The negative

trend continued in 2010 for exports to Bulgaria (-1.2%), Belarus (-0.6%), Croatia

(-6.2%) and Ukraine (-6.4%).

A varied picture for emerging

European markets.


3333

13 Greece, Ireland, Portugal and Spain.14 Forecasts for GDP growth are: i) eurozone: 1.7% in 2010 and 1.5% in 2011; ii) U.S.: 2.6% in 2010 and 2.3% in 2011. 15 The following fiscal restrictions were adopted in 2010: Germany, € 80 billion in 4 years; France, € 45 billion in 3 years; Italy, € 25 billion in 2 years, Spain € 15 billion (+50 billion in January) in 2 years; Greece, € 35 billion in 3 years.

3.5 Advanced countries: light and shade

Recovery continues in the advanced economies but is modest and diversified. In 2009 the drop in private demand led governments to step

up public spending to counterbalance or at least mitigate the effects. Fiscal

expansion resulted in higher budget deficits, which reached an average of 8%

of GDP in the region in 2010 (Fig. 15). This triggered an increase in sovereign

CDS spreads, especially in high-risk countries13. In 2010 the region returned

to positive growth, mainly driven by the recovery in world trade activity.

However, the forecast is for limited and differentiated growth, with the U.S.

economy proving more reactive than the eurozone14.

Fig.15Governmentbudgetarypositions

4

2

0

-2

-4

-6

-8

-10

-12

As %

of G

DP

Germany Canada Italy Spain Japan USAUKAdvancedEconomies (average)

FranceGreece

2007 2010 2014

Source: IMF.

In the eurozone, private demand and, as a consequence, growth and

imports are being held back by: i) fiscal austerity measures, introduced by

governments to contain public debt15; ii) high unemployment rates and lack

of confidence among households and companies; iii) structural rigidity of

the employment market. There are also differences within Europe, with GDP

growth ranging from -4% in Greece to 3.3% in Germany. With all the other

advanced economies recovering slowly, Germany is an exception. This country

exceeded its forecast growth potential for 2010, mainly due to its export-led

economy and ability to meet the demand for imports by emerging countries.


Advanced 7.7 7.6

Belgium 7.9 7.3

Germany 10.6 7.6

France 7.9 7.1

Sweden 10.0 7.1

USA 10.1 6.7

Advanced countries face fiscal austerity.

34


34

The positive impact of this growth on private demand in Germany and, in

turn, on imports, could act as a stimulus for recovery in the entire region.

Italian exports to advanced countries have started to pick up, but it will be a long time before they return to pre-crisis levels (Fig. 16). Exports to

the advanced economies of the region began to fall in 2008, and complete

recovery is not expected until 2012-2013. Demand by these countries was

particularly weakened by the recession. After falling by 21.8% in 2009, total

sales are expected to grow by 7.8% in 2010, 2.5 percentage points less than

total Italian exports; in 2011 this difference should be halved, with exports

to advanced countries rising by 6.7% (total exports to the world will increase

by 7.9%).

Trends will vary from country to country. In Germany, where exports of

goods are forecast to rise by 10.6% (7.6% in 2011), growth will be driven

by the recovery of German productivity and the role of Italian goods in

the production chain, partly borne out by the figures for Italian exports of

intermediate goods to Germany: +17.9% in 2010. Italian exports to the U.S.

are also expected to rise by 10% in 2010 (6.7% in 2011); the depreciation of

the euro against the dollar between the end of 2009 and early 2010 played a

positive role. Exports to Belgium (7.6%), France (7.5%), and Sweden (8.6%) will

also grow at more than the regional average over the two-year period 2010-

2011. After accelerating in 2010, sales to the UK and Switzerland will slow

more significantly in 2011, while those to the Netherlands will recover more

slowly in 2010 before picking up speed the following year. Sales to Canada,

Denmark, Finland, Norway and Spain grew at different rates in 2010, but all

fell short of the regional average. However, of these countries only Spain is a

consolidated market with average sales amounting to € 18 billion in the two-

year period 2010-2011. Sales to Greece, Ireland and Portugal were negative

in 2010 and will continue to be sluggish in 2011, given the serious problems

these countries face.

Slow recovery of imports, in

the advanced economies.

Growing importance of

the German market.


3535

Fig.16Italianexportsofgoodstoselectedadvancedcountries*

Advanced Economies (average)

15

10

5

0

-5

-10

-15

-20

-25

-30

-35

% ch

ange

Germany USA Switzerland France Canada GreeceSpainUKSweden

2009 2010 2011

40 bn 19 bn 3 bn 16 bn 15 bn 36 bn 2 bn 17 bn 6 bn

* The numbers in the graph indicate levels of goods exported in 2010 in EUR.

Source: SACE.

4. ThEpUzzlEOfSECTORS

36

4.1 Intermediate goods benefit of industrial recovery

The recovery has boosted world demand for intermediate goods (such as mineral products, chemicals, rubber and plastics and metals), wthanks to their predicting nature. After losing over a quarter of their value

in 2009, world imports of intermediate goods are expected to increase by

23% in 2010. The forecast for subsequent years shows an halved growth

rate, even continuing in double-digit figures (Fig. 17). This increase in value

reflects the rising price of raw materials, which benefitted especially from

Chinese demand. The commodity price index fell sharply in the wake of

the crisis and is not expected to return to 2007 levels before 2011. Gold is

regarded as a safe investment and its price is inversely correlated to that of

the dollar. Commodity prices are not expected to stabilize until 2012 and

at a time of abundant global liquidity, which is also a result of monetary

expansion in the United States, there is an inflationary risk. The mineral

products sector rebounded by 35% in 2010, after falling by 38% in 2009,

and will increase by an average of about 15% in the following years. This

sector represents around one third of world imports of intermediate goods.

Imports of chemicals, rubber and plastic products and metals will grow

fairly briskly and in a homogeneous pattern, especially from 2011 onwards.

Fig.17Worldimportsofintermediategoodsbysector:forecasts

2010 2011 Average 2012-2014

0 5 10 15 20 25 30 35 40

Intermediate

Mineral Products

Chemicals

Plastic & Rubber

Metals

% change, in value

Source: Global Insight.

Industrial activity picks up:

intermediate goods the first to

benefit.


37

Italian exports will grow at a faster pace for intermediate sectors than goods as a whole. Mineral products will enjoy the biggest growth, as world

demand in this sector increases. The growth rate is expected at 18.5% in 2010

and 13% in 2011, with an average increase of 8.5% over the following three-

year period (Fig. 18). However since Italy has few natural resources, this sector

represents a relatively small proportion of the country’s exports and accounted

for just 4.8% in 2009. Italian exports in this sector consist almost entirely of

fossil fuels (coal, oil and similar), the value of which will be sustained by the

increase in international prices. The energy commodity price index is expected

to rise over 30% in 2010, before falling by 8% in 2011 and by 3% in 2014. Brent

crude oil is expected to average approx. $ 80 per barrel in 2010 and 2011,

gradually increasing to $ 95 by the end of the forecast period. Stone products,

namely marble and granite, have a lesser role, but with some important niche

markets, as significant sales of top-of-range production and processing in Asia

and North Africa.

Fig.18Italianexportsofintermediategoodsbysector:forecasts

0 2 4 6 8 10 12 16 1814 20

Intermediate

Mineral Products

Chemicals

Plastic & Rubber

Metals

% change, in value

2010 2011 Average 2012-2014

Average totalgoods

Source: SACE.

The forecast is for a robust increase in the weight of the chemicals-pharmaceuticals sector. By 2014 this segment will account for one tenth

of the value of Italian sales abroad and be the country’s third-biggest export

sector. Chemicals-pharmaceuticals accounted for slightly less than 8% of

exports in 2007. In 2010 exports were well above this figure, thanks to renewed

foreign demand. The forecast is for a growth rate of 18.2% in 2010, slowing to

Mineral products: the most dynamic intermediate goods category, even with a reduced weight.

Chemicals: the third-biggest export sector in 2010.


38

16 Cf. Federchimica (2010) and Prometeia (2010).

10% for 2011 and averaging around 7% for the following three-year. Exports of

chemicals are driven by the expansion of some major emerging markets, such

as China, Russia, Turkey, Poland and Egypt, and industrialised countries like

Germany (cf. chapter 6). The results by industry will vary, depending on the

propensity to export and the orientation toward the most dynamic market.

The outlook is particularly favourable for the most innovative and specialised

products, such as certain paints and varnishes16. The pharmaceuticals sector

weathered the crisis well and will experience increased demand, especially

by the emerging countries in Asia and Pacific region. However, there is some

uncertainty as regards demand since some countries are trying to reduce

their budge deficits by cutting funding to the health services. This industry is

also undergoing some important structural changes associated with ageing

population in the advanced economies and the expiry of major patents.

Growth in exports of rubber and plastic products will show double-digit figures only in 2010 (+15%). Foreign sales in this sector will be less dynamic

than in the aggregate of intermediate goods. The rubber goods sector has

been facing strong competition by the emerging countries, especially

China, since the nineties. This has led to a shift towards more sophisticated

products with a higher technological content. These products are mainly

used in the motor vehicle sector, especially for tyres; they are also used in the

construction, pharmaceuticals and mechanical industries. In Europe, where

new car registrations have fallen, demand for tyres was sustained in 2010 by

replacements for cars and heavier vehicles. The world market is expected to

return to 2008 levels in 2010 with the annual growth rate averaging 7% from

2010 until 2015. Pressure could come from the price of rubber, which is rising

faster than that of crude oil, on which it depends. This is due to a series of

unfavourable natural events (floods, cyclones and monsoons), especially in

Thailand, the world’s top producer, and the appreciation of the exporting

countries’ currency.

Metal exports will be back on growth, even if the full recovery will be accomplished only in 2014. Foreign sales in this sector fall sharply in 2009

(-34%) after remaining almost unchanged in the previous year. They felt the

effects of the massive and widespread wave of destocking at the end of 2008

linked to the significant restriction on trade finance. Italian exports are expected

to rise by around 14.4% in 2010, slowing to 8.7% in 2011 and averaging below

Rubber and plastic are

shifting towards higher

technological content.

Demand for steel boosts metal

exports.


39

7% for the following three-year. The value of goods exported will only exceed €

40 billion at the end of the forecast period (about 10% of total exports). Italy is

the second-biggest steel manufacturer in the EU 27, after Germany. This sector

accounts for a large share of metal exports and is more generally internationally

oriented; this is particularly the case for the pipe, conduit and hollow section bar

industries, one of the most highly specialised sector in Italy17. Demand in this

sector is mainly driven by plants for the oil and gas sector, another important

industry for Italian exports. In this sector as a whole there is a need to develop

more international production networks, for more structured companies and

to enhance the distribution capabilities for smaller players.

4.2 Capital goods: slower but growing

Investments will account for one fourth of world GDP in 2014, two points

higher than in 2007. The increase will be driven by the accumulation of capital

in the emerging economies; the ratio between investments and GDP, in

these economies, will rise from 29% in 2007 to 31.8% in 2014. In industrialised

countries this ratio, which fell sharply with the crisis, will start to grow again but

without reaching pre-crisis levels (20.3%, down from 21.6%). The forecast for

world imports of capital goods, in value, after rebounding by 16% in 2010, is for

higher growth in the two-year period 2012-2013 (approx. +11%), compared to

2011 (+9%). The growth rate will peak later, when the recovery of investment

activity in the industrialised economies has reached a more advanced stage.

The electrical and electronic equipment sector will experience the biggest rise

in demand.

Italian exports of capital goods are forecast to grow at an average of just one percentage point less than in 2004-2007. The value of these exports

will increase during the five-year forecast period, at an average annual rate

of around 8%. Growth for 2010-2011 will stand in the region between 9%-

10%, falling to about 7% for the following years (Fig. 19). In line with expected

trends in demand, the electrical equipment sector will see the most dynamic

growth. Other capital goods, which mainly include optical, photographic,

measurement, precision and medical instruments, will also enjoy higher

growth rates.

Italian exporters of electrical equipment look well set to take advantage

of significant investments in installed capacity. At world level, the latter will

Investments on the upswing thanks to the build-up of capital in emerging countries.

Increase in installed energy capacity driving exports of electrical equipment.

17 Cf. Unicredit (2010).


40

be 13% higher than in 2007 (Fig. 20). There is clearly a big difference between

expectations for OECD countries (+4.3%) and non-OECD countries, especially

in Asia (+35.1%). In the former, consumption is mature, while in the latter

there is still a significant portion of demand to be met. Electricity represents

an increasing share of world energy demand, with the forecast for generation

to increase at a higher rate than for other energy sources in all sectors of use,

except transport. The biggest increase will regard electricity generated from

renewable sources, with hydroelectricity and wind power accounting for 80%.

Emerging Asia countries will offer a number of opportunities in the renewable

energy sector, within the scope of major projects, especially in China and

India, but also in smaller plants in Malaysia, Pakistan and Vietnam.

Fig.19Italianexportsofcapitalgoodsbysector:forecasts

0 2 4 6 8 10 12 1614

Investment goods

Mechanical engineering

Electrical products

Transport equipment

Other

% change, in value

2010 2011 Average 2012-2014

Average totalgoods

Source: SACE.


41

Fig.20Installedelectricitygenerationcapacitybyarea

+13%

+4.3%

+35.1%

+1.5% +17.2% +13.7% +18.8%

6,000

5,000

4,000

3,000

2,000

1,000

0

Giga

wat

t

OECD

non-OECD

World Asia Europe& CSI

LatinAmerica

MiddleEast

Africa

2007 2015

Source: US Energy Information Administration.

The prospects for exports of means of transport are good, but from 2012 growth will be slower than the average growth rate for capital goods. While

foreign sales of means of transport will increase by 10.6% in 2010 and by 9.8%

in 2011, average growth for the following three-year period will be 6.2%, the

lowest among the different industries in this sector. The motor vehicle market

is mature in the most advanced economies; sales in these markets are more

volatile as they are mainly driven by the need to replace existing stocks. Despite

the introduction of incentive schemes in several of these countries and the

positive results attained in 2010, it will be some time before sales return to

pre-crisis levels and this will take place more slowly in Europe than in the U.S.

The outlook for demand in the emerging markets, especially China, India and

Brazil, is much brighter. New car registrations look set to rise sharply in the

coming years, even when some of these countries will abolished the stimulus

packages adopted in 2009. These markets offer important opportunities

for Italian exporters, especially for bottom-of-the-range vehicles; however,

competitive pressures arise also in this segment. World production of light

vehicles will increase by some 30 million units, in 2014, from 58 million in 2009.

More new car registrations in emerging countries: opportunities for means of transport.


42

In the aviation sector, both passenger and cargo planes have returned to normal growth levels, with demand picking up after the crisis however the

figures for 2010 are not good enough to reverse the trend, as demonstrated

by the fact that companies are still cautious about expanding production

capacity. Airline companies have recorded positive financial results, but there

is much uncertainty as to whether this trend will continue in North America

and Europe. In the shipbuilding sector, the main driver of demand is passenger

ships, especially cruise liners , one of Italy’s the most specialized manufacture

production in this sector. The main geographical reference market for this

segment is North America, where the average annual transport capacity is

expected to increase by 3.8% between 2010 and 2014, at half the historical

rate.

Exports of mechanical engineering will amount to more than € 80 billion in 2012. This segment was heavily affected by the collapse of investments

caused by the crisis, but with growth standing at around 9% in 2010 and

2011, and 8% in 2012, foreign sales will exceed 2007 levels. Sales will slow in

2013-2014, though remaining above 7%. Many of the changes in the sectoral

specialisation of Italian exports that have taken place over the last decade

regard mechanical products, which account for 21.5% of total foreign sales

of goods. This figure is expected to rise, albeit slightly, until 2014 (22.1%). The

“advanced emerging” markets generate over 20% of all foreign demand for

mechanical engineering, more than five percentage points above the demand

for exports of goods, and this is set to increase over the forecast period.

4.3 Agricultural and consumer goods: more moderate growth

Foreign demand for these two categories of goods will increase, in value, in the range of 5% and 6%. In particular, for the agri-food chain,

export growth rates will come very close to 5.5% for the entire forecast period

(Fig. 21). On the basis of this forecast, exports will almost have recovered to

their pre-crisis levels by 2010, considering this group withstood the recession

better than others with a 7.4% reduction in foreign sales in 2009. For consumer

goods, growth will be less than 5% for the two-year period 2010-2011, and

then slightly higher, on average, for the following years. The forecast is in line

with average growth trends between 2000 and 2007 and confirms the more

stable pattern of expansion for the group of goods hardest hit by increased

Mechanical engineering:

key role in shifting sectoral

specialisation.

The anti-cyclic nature and

competition from Asia will

slow agricultural and consumer

goods.


43

competition from the emerging Asian economies. Demand for agricultural

and consumer goods will grow much faster in regions with the most robust

economic fundamentals and positive demographic trends. These include

emerging Asia and Latin America.

Fig.21Italianexportsofagriculturalandconsumergoodsbysector:forecasts

2010 2011 Average 2012-2014

0 1 2 3 4 5 6 7 8 9 10 11

Other consumer

Textiles and clothing

Woods and furniture

Consumer goods

Other agricultural

Food & beverages

Agricultural goods

% change, in value

Average totalgoods

Source: SACE.

Italy is the world’s seventh-biggest exporter of agri-food products, with

a 4% market share (Fig. 22). The 2015 Universal Expo in Milan is closely linked

to this sector, its theme being “Feeding the planet, Energy for life”. While the

value of Italian exports in this sector increased at less than the world average

between 2004 and 2009, it grew at a faster pace than in major exporting

countries such as the Netherlands, France, Belgium and Spain. On the basis

of these forecasts, we can anticipate a similar trend over the next five-year.

Other agricultural goods will enjoy stronger growth than food and beverages

throughout the forecast period. In the former, the pace of change will be

slower whereas in the latter it will accelerate (from 4.3% in 2010 to 5.3% on

average for 2012-2014). Trends in the value of exports of agricultural goods

are influenced by the prices of raw materials, which are forecast to increase by

around 10% in 2010-2011 before remaining relatively stable for the rest of the

period. The Italian food sector has several strengths, ranging from the wide

The strengths of the agri-food sector: quality and safety.


44

18 Cf. CSC, Prometeia and SACE (2010).19 Cf. Intesa San Paolo (2010).

assortment of high-quality products (such as those bearing the DOP mark)

to high safety standards. There are, however, some critical aspects such as

fragmented production and the absence of international distribution chains,

that undermine performance in foreign markets.

Fig.22Mainworldexporters,agri-foodsector

Italy

Brazil

Argentina

United StatesNetherlands

Germany

France

United Kindom

Spain

Thailand

Denmark

China

Belgium

Canada

Australia

World, % change (+8,4%)

16

14

12

10

8

6

4

2

0Expo

rt in

valu

e (%

year

ly av

erag

e ch

ange

) 200

4-20

09

Market share 20090 2 4 6 8 10 12 14

Source: Calculations by ISMEA using GTIS data.

In the fashion sector foreign sales will recover very slowly. Exports will

grow at a rate of 3.3% in 2010 and, though increasing over the following years,

will not exceed the 5% evel. We will not see the results achieved in 2007 until

2014. In this sector companies that had already implemented restructuring

processes prior to the crisis will recover more quickly. This applies especially to

companies that have differentiated their products, focussing on better quality

or characteristics to suit the tastes of the most demanding customers, as in

the case of so-called accessible luxury goods18. Exports by some industrial

districts19 in this sector had already recovered to above the levels of the first

half of 2008 by the first half of 2010. These include the clothing district of

Rimini and the footwear district of Lucca. However, the picture is extremely

varied and in some districts such as the textiles and clothing of Treviso and the

footwear district of Vigevano, foreign sales are lagging behind.


45

20 Cf. CSIL (2010).

Wooden products and furniture will also recover at a modest pace, with

growth rates in these sectors forecast between 5% and 5.5% for the entire

period. Foreign demand is picking up again, albeit very slowly, especially for

furniture which represents the biggest share of exports in this sector. Sales

in this category continue to be concentrated in advanced markets and are

still feeling the effects of the crisis that struck property markets in some key

importing countries such as the U.S. and Spain, as well as sluggish recovery in an

important emerging market like Russia. Demand by other emerging countries

is more dynamic but the value of furniture exported to these countries is

still not enough to counterbalance the results of other less vibrant markets.

In this scenario, with the renewed appreciation of the euro and oversupply

due to the recent expansion of production capacity in some countries, Italian

exporters are reducing their margins in an attempt to maintain competitive

prices. The prospects for world trade in the sector, at least in the short term,

are modest, although growth will be brisk in the Asia Pacific region and, to a

lesser extent, in the Middle East and Africa20.

Weakness in property markets slows sales of wood and furniture.

5. fOCUS:MEChANICAlENgINEERINg

46

5.1 A glimpse of recent events

Mechanical engineering accounts for 3.7% of export of manufactured goods. Prior to 2009 this sector had enjoyed growth at well above the average

rate for manufactured goods, but the advent of the crisis brought about

a sharp decline (almost 30% in 2009) that nullified out the previous 4 years’

growth (Fig. 5.1 and cf. Appendix 2).

Fig.5.1Worldtradegrowthofmanufacturedgoodsandmechanicalengineering

30

20

10

0

-10

-20

-30

% ch

ange

(cur

rent

pric

es)

ManufacturingTotal mechanical Engineering

95 96 97 98 99 00 01 02 03 04 05 06 07 08 09Source: Prometeia.

Asia consolidated its role as the leading player, even during the crisis. The region (especially China) remains the biggest importer of machinery

thanks to a smaller reduction in economic activity. Imports of machinery by

closer emerging countries21 and Western Europe fell much more sharply,

with imports of mechanical engineering falling by 35% and 32%, respectively,

in 2009. In Europe, demand was highest in Germany which, although it has

weakened, remains a key market.

Germany, the U.S. and Japan continue to be the world’s three biggest exporters of machinery. Key advanced markets, such as Switzerland and the

UK, fell behind, losing about 30% of their share in 2009 alone.

Italy is the world’s fourth exporter, with a market share of around 9% (Table 5.1).

The crisis followed four years of

expansion.

* This analysis is based on a different model to that used in the other chapters (cf. Appendix 2). The baseline macroeconomic variables considered in the two models are, however, similar.21 This region includes Eastern Europe, the Southern Mediterranean region and the Middle East.

By Prometeia*


47

Table5.1Theworld’stop10exportersofmechanicalengineering

Level 2009 2009 2003 - 2008 2003 - 2008 Share Country EUR million* % change % change A.a.** % change As %

Germany 43,773 -27.7 59.1 7.7 17.4

U.S. 32,820 -21.7 66.8 5.6 13.1

Japan 24,454 -43.5 47.5 8.0 9.7

Italy 21,810 -27.3 45.4 6.2 8.7

China 15,111 -16.9 207.8 22.6 6.0

Netherlands 8,741 -31.8 161.7 19.3 3.5

France 8,513 -29.9 31.1 3.9 3.4

Korea 8,235 -25.1 111.5 15.7 3.3

Great Britain 7,580 -33.3 24.8 3.1 3.0

Switzerland 6,962 -28.3 16.5 1.4 2.8

* Figures in current EUR. ** Annual average.

Source: Prometeia.

The ability to satisfy the demand of emerging economies has been crucial for Italian exporters since emerging countries represent a key markets22. Latin America has been an important source of opportunities,

specially in the automotive sector and due to partership between exporters

and Italian companies working in the region. Italian companies only have a

shadowy presence in Asia (cf. Appendix 2).

5.3 Outlook

World demand for capital goods was extremely sensitive to the economic cycle during the crisis. There are two reasons for this: i) companies’

uncertainties about the medium-term prospects for the world economy ii)

difficulty getting credit. Weak international economic activity, fears associated

with the imbalances of financial systems and industries’ production still under

potential level have all contributed to the creation of a sense of uncertainty so

that enterprises limit their demand for capital goods.

In 2011-2012, world demand for mechanical engineering should grow at an annual rate of about 7%, after increasing by around 4% in 2010 (Table

5.6). The emerging regions will drive economic recovery: countries where

investments start growing again, especially Asia, Latin America and NAFTA

countries, will see the most dynamic growth.

Italy accounts for one tenth of world sales.

Still limited weight of Italian goods in Asia.

Mechanical engineering: trade growth more than 7% in 2011.

22 In particular Poland, Russia, Turkey.


48

Table5.2Importsofmechanicalengineeringbyarea:outlook(%change)

Area 2008 2009 2010 2011 2012 2012 index*

Western Europe -2.6 -34.8 -1.3 5.4 4.8 70

Nearby emerging economies 4.9 -33.0 -0.7 6.7 7.2 78

Asia and Pacific 1.5 -26.1 7.2 8.3 8.4 94

NAFTA -0.6 -37.4 5.6 8.5 6.5 76

Latin America 29.2 -25.3 15.0 8.6 9.6 115

Total World 1.3 -31.6 3.7 7.3 7.0 82

* Average for 2007-’08=100.

Source: Prometeia.

In Europe, Mediterranean and Middle-East regions demand will grow slowly. West European countries are characterised by excess production

capacity and weak domestic demand. Growth in Eastern Europe, the Southern

Mediterranean and Gulf regions is sluggish due to the slow recovery of economic

activity and low companies’ investments by companies.

Within this context, internationalised companies continue to be an excellent source of demand. These companies will be equipped to tackle

competition by enhancing the quality of their products (product innovation

and differentiation) and productivity (process innovation and efficiency), to

better satisfy demand for machinery.

Machine tools

Machine tools will follow the same overall trend as mechanical engineering. In the first half of 2010 demand in Asia and Latin America will

recover, while remaining weak in other areas (cf. Appendix 2). Growth is also

forecast, albeit at a slower pace, for the U.S. and Germany, thanks to the ability

of their industrial systems to tackle international competition.

Challenging scenario for Italy, the world third exporter. Italian companies

will need to integrate high-level specialisation and product customisation

with strategic decisions. In the biggest markets, such as Germany and China,

they will need to maintain their competitive edge, while it will be crucial to

concentrate on more high growth markets, such as those of Asia and South

America to gain shares of markets in emerging countries.

Asia and Latin America drive

economic recovery.


49

Table5.3Outlookforimportsofmachinerybygeographicalarea(%change)

Area 2008 2009 2010 2011 2012 2012 index*

Imports of machine tools by area: outlook

Western Europe 1.3 -44.3 -1.7 5.7 4.7 61Nearby emerging economies 3.8 -39.4 1.6 5.6 5.6 70

Asia and Pacific -0.4 -32.2 14.0 7.7 7.1 89

NAFTA -0.2 -43.5 1.5 8.4 6.4 66

Latin America 49.6 -37.6 11.4 7.7 8.4 97

Total World 1.8 -38.9 6.0 7.0 6.3 74

Imports of metal working machinery by area: outlook

Western Europe 8.7 -24.0 -13.7 8.3 5.8 78Nearby emerging economies 19.2 -17.4 -8.5 11.4 11.3 102

Asia and Pacific 30.0 -0.5 -1.5 10.4 10.8 136

NAFTA 19.6 -27.3 9.0 13.3 8.5 106

Latin America 32.9 25.7 65.5 9.7 7.7 281

Total World 22.1 -10.3 0.7 10.5 9.6 120

Imports of machinery for the food. beverage and tobacco industry by area: outlook

Western Europe 5.6 -17.2 1.9 3.8 3.6 93Nearby emerging economies -2.3 -26.4 5.2 3.2 2.3 81

Asia and Pacific 6.0 -19.3 10.2 5.4 6.1 102

NAFTA 4.8 -20.9 -0.4 5.8 3.1 88

Latin America 11.7 -21.5 7.0 5.2 7.3 100

Total World 4.0 -20.7 4.6 4.5 4.1 92

Imports of paper and cardboard processing machinery by area: outlook

Western Europe -14.2 -26.3 0.5 1.9 2.1 71Nearby emerging economies 7.0 -33.2 -5.1 5.1 7.9 74

Asia and Pacific -7.5 -27.6 -4.1 4.5 5.7 74

NAFTA -8.7 -32.7 16.1 4.6 3.9 81

Latin America 16.2 -27.5 -5.2 6.7 10.4 87

Total World -7.2 -28.8 0.3 3.8 4.7 75

* Average for 2007-’08=100.Source: Prometeia.

Metal working machinery

Demand for machinery in this sector is picking up. In ttwo years expected

world trade should grow by more than the average growth rate for mechanical

engineering (approx. 10%), although we are unlikely to see a return to pre-

crisis levels.

Two factors will sustain demand for this type of machinery: dynamic

growth of the steel-making industry in the emerging economies, especially

the BRIC countries, and the demand for increasingly advanced machinery by

mature emerging markets. Russia, Turkey, China and Brazil should contribute

most to growth of sales in this sector.

Brisk recovery.

The steel-making sector will have an important role.


50

Italian manufacturers are equipped to take advantage of recovery, having

strengthened their leadership over the years and made effort to penetrate all

the markets and consolidate their position. Contingent problems in some

Middle-Easte countries could hinder the growth of exports in 2010 and, in part,

in 2011. However, once the situation eases, foreign sales should expand in line

with world demand.

Machinery for the food, beverage and tobacco industry

The food sector has taken the crisis in its stride without any significant decline. Some large markets, such as China, Brazil, the U.S., France and

Canada, where economic activity in the food sector is expanding, offer good

opportunities.

The relaunching of the Italian food sector abroad will enable Italy to hold on to good shares of machinery exports in this sector. The outlook is excellent

in markets such as South America, the Middle East and North Africa, while the

shadowy presence of Italian companies in Asia continues to be a weak point.

Paper and cardboard processing machinery

The expansion of international trade of paper and cardboard processing machinery has been penalised by the fact that the paper industry is extremely mature in advanced economies, which slows new investments, and by the secondary role of high-growth emerging countries. Demand will be

bolstered by two regions in particular, nearby emerging countries (especially

Russia, Turkey and Poland) and Latin America. Growth in Asia will be in line

with the average, as this region is not yet a primary market for this sector.

Italy is once again in a good position to exploit the opportunities offered by world demand. Italian manufacturers already have a very high and

increasing share of the market in Latin America and Western Europe on which

to leverage. Good export results bear witness to the ongoing competitiveness

of Italian companies and above all their ability to offer technological solutions

capable of optimising production processes.

Machinery for the paper

industry: Russia, Turkey, Poland

and Latin America.

5. fOCUS:MEChANICAlENgINEERINg 6. gEO-SECTORAlCOORdINATES

51

Italian furniture for Russian interiors

Italy is a leading exporter of wood and wooden products to Russia, especially in the furniture category, which accounts for 80% of total exports in

the sector. Italy is the second-biggest exporter of wood to Russia, with a market

share that grew in 2009 compared to 2007 (Fig. 24). This result was achieved

despite a 34.5% contraction in the value of exports in 2009, which however

corresponded to an overall reduction in Russian imports of furniture that

was more than proportional. After surging in 2007-2008 (+43%), the Russian

construction sector suffered a 33% drop in turnover in 2009, in line with the

severe economic recession that hit the country; the modest recovery forecast

for 2010, with sales in the construction industry rising by 9.4%, also explains why

the growth in Italian exports will not reach the double-figure rates of previous

years. Sales are expected to rise at a rate of more than 9% in 2010, for a value

of € 890 million. Growth should slow over the following years (averaging 6%

for 2011-2014), but with sales once again topping the € 1 billion mark starting

from 2012.

The success of Italian furniture in Russia is not merely linked to the economic cycle. The expansion of the middle class, which has contributed to

the increase in sales of furniture in Russia in recent years (turnover increased by

an average of 34% from 2005-2008), and the absence of Russian design brands,

foster interest in Italian products which are regarded as a byword for quality;

middle and high-range Italian furniture are used to furnish Russian cruise ships.

Tourism will also be a source of opportunity for Italian exports; in the run-up

to the Sochi 2014 Winter Olympic Games, projects will be implemented to

increase the capacity of the hotel sector.

The quality of Italian furniture drives wood exports to Russia.

52

6. gEO-SECTORAlCOORdINATES

52

Fig.24ExportsoffurnituretoRussia:marketshares(%)

0 5 10 15 20 25 30

China

Italy

Germany

Poland

Ukraine

Turkey

Finland

South Korea

France

Spain

%

2007 2009

Source: Global Trade Atlas.

Italian textiles for the Egyptian clothing industry

Italian exports have benefitted from the elimination of import restrictions in the Egyptian textiles sector. Introduced at the beginning

of 2009 to prevent imports of products below the cost of production, these

safeguard measures were removed when prices in the sector stabilised and

also in the wake of international pressure to abolish protectionist policies.

Egypt had already introduced special customs tariffs for textiles under the

bilateral EU-Egypt Association Agreement, which came into force in 2004, with

the condition that these would gradually be reduced over the years (Fig. 25).

This has been a stimulus for Italian textile exports, which account for almost

two thirds of the country’s textile and clothing exports to Egypt. Italy is the only

advanced economy among the top nine exporters in this sector to Egypt, and

together they represent a 75% share of the market. In 2010 Italian exports to

Egypt will grow by 5.4% (after contracting by 14% in 2009) and then stabilise at

an average of over 6% for 2011-2014.

The production and export of clothing is an expanding sector in Egypt. Local importers, who are often also the owners of the sales outlets, tend to

Italy is the only advanced

country among the 9 exporters of textiles and

clothing to Egypt.

6. gEO-SECTORAlCOORdINATES 6. gEO-SECTORAlCOORdINATES

5353

import large amounts of yarns and textiles which offer a more competitive

quality to price ratio than local products. This is also a consequence of the

inadequacy of the country’s industrial policies for the textile sector, 60% of

which is state owned, in contrast with the dynamism of the clothing industry,

which is mostly privately owned. Some operational aspects (especially the huge

amount of red tape) make it difficult for exporters to penetrate the market.

Fig.25CustomsdutiesbeforeandaftertheEU-EgyptAssociationAgreement(2004)* (as a % of exported value)Category** 2002 2008 2011 2014

Cotton, not carded or combed 5 0 0 0

Cotton yarn 12 5,4 0 0

Cotton fabric 22 20 10 0

Non-tufted carpets 40 36 18 0

* Which includes free trade agreements. ** The HS codes are, in order: 5201, 5202, 5208, 5702. Source: Assistance for Trade Reform.

Gearing up in South Africa

The expansion of the South African motor vehicle market has broadened the potential for exports in the means of transport sector. The increase

in new car registrations is reflected in a rise in purchases of motor vehicles

and the relative components in this country; overall imports should rise by an

average of almost 11% in 2010-2012 (Fig. 26). Moreover, the automotive sector

in the most dynamic country of Sub-Saharan Africa is a major powerhouse for

the economy, with an overall turnover in the region of € 12 billion in 2009, that

is forecast to almost double in 2010. South Africa is a production hub for the

entire sub-continent, and for the world’s main multinational car manufacturers,

which have relocated some stages of the production process to this country.

Italy is benefiting from dynamic expansion in this sector, where exports are

expected to reach double-figure growth for 2010 (+14.5%). This trend of brisk

growth should continue for the following years (9.9% in 2011 and 8.7% in

2012). While the value of exports is still low (about € 150 million on average

for 2010-2012), South Africa appears to be one of the most promising of the

emerging markets.

Components has a particular relevance. South Africa is home to companies

that assemble imported components and others that manufacture the single

parts locally. In the first eight months of 2010 Italian exports of parts and

Strong increase in components for means of transport.

54


54

accessories rose by 73.5%. Components for vehicles with a capacity of ten or

more passengers account for a significant proportion of these. One source of

expansion is the National Scholar Transport Policy promoted by the department

of transport as part of the 2014 Millennium Development Goals project, with

the aim of developing and modernising the school transport sector. However,

exporters do face competition from local operators.

Fig.26.ImportsofmotorvehiclesandtheirpartsinSouthAfrica

Components for vehicles Vehicles

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

18,000

16,000

14,000

12,000

10,000

8,000

6,000

4,000

2,000

0

USD,

mln

Source: Global Insight.

A more important role in the German production chain

Germany continues to be Italy’s biggest trading partner, with the value exported goods estimated to be in excess of € 40 billion in 2010. Exports

of intermediate goods appear particularly healthy: in 2010 foreign sales in

this sector will have grown by 17.9% (-29.7% in 2009), for a value of $ 16.7

billion. This reactivity has a double connotation. On the one hand there is the

economic climate, associated with robust economic recovery in Germany.

On the other there are structural aspects, with the increasing weight of

Italian exports of intermediate goods to Germany. In 2000 exports in this

sector accounted for 20% of total exports of goods to Germany (Fig. 27); in

just seven years this percentage rose to 29% and has remained unchanged

even after the crisis. This share is expected to rise to 31% by 2014. Such

expansion could herald the increasingly important role of Italian exports in

High value-added

intermediate goods in

the German production

chain.


5555

the German production chain, thanks to products with higher added value.

2010 was a particularly good year for the chemicals sector, with Italian

exports expected to grow by 18.9%, for a value in the region of € 4 billion.

Favourable results are also forecast for the following years, with growth

averaging around 8% for 2011-2014. Pharmaceuticals account for 40% of total

exports in this sector, but organic chemicals, which represent 20%, also play

a significant role. These products are mainly used in the food industry and to

manufacture detergents and sanitising products. Chemical extracts used in the

production of paints and mastics will also show dynamic growth, with a year on

year increase of 15% in the first eight months of 2010.

Fig.27WeightofintermediategoodsinrelationtototalexportstoGermanyandworld

35

30

25

20

15

10

5

020072000 2010 2014

Germany World

20.1

29.1 28.731.0

22.7

28.4 28.8 29.7

% o

f tot

al

Source: SACE.

Mechanical engineering in Brazil and Chile: two sides of the same sector.

Mechanical engineering remains a key sector of Italian exports to Latin America. In Brazil and Chile, following the downturn in 2009 (-15% and

-2%, respectively), 2010 began on a positive note with signs of recovery in

both countries, albeit with considerable differences. Italian exports to Brazil

in this sector amount to a value of around € 1 billion and mainly consist of

machinery for industrial processes. The brisk growth of industrial production

(which had increased by 6% in October compared to the same month in 2009)

and renewed investments by local enterprises (investments by companies to

56


56

purchase machinery rose by 30% in the first six months of 2010 compared

to 2009) constitute the main source of demand for exports of machinery

for industrial processes (handling, packaging, labelling, etc.). The household

appliances sector offers good opportunities. Tax incentives and favourable

terms for consumer credit have had positive repercussions on the household

appliances sector in Brazil, which has also benefitted indirectly from recovery

in the construction industry. This sector offers excellent opportunities for

Italian exporters, who have been present in this sector for several years.

Chile is a smaller market for Italian exports, generating a turnover of € 300 million. Exports of mechanical engineering to this country withstood

the 2009 crisis well thanks to demand in heavy duty sectors such as the

construction industry, mineral products and infrastructure, which continue to

be dynamic. State and private funding of major projects and investments in

the energy sector will continue to show a positive trend in 2010 and 2011,

sustaining the demand for machinery to construct infrastructure, mining

facilities and power stations (such as turbines, motors, pumps, industrial trucks

and cranes).

There will also be interesting opportunities for exporters in some niche sectors, such as Italian agricultural machinery. In particular, equipment

for the wine-making industry has recorded positive growth in recent years

(Chilean wine exports generate a turnover of around € 1.3 billion, making

it the world’s fifth-biggest exporter in this sector) and the prospects are

excellent, considering that in the first eight months of 2010 sales of this type

of machinery recovered to pre-crisis levels.

Machinery for Brazilian

assembly lines and Chilean

infrastructure.


5757

Fig.28ExportsofmechanicalengineeringtoBrazilandChile

EUR,

mln

Brazil Chile

2007 2008 2009 2010 2011 2012 2013 2014

2,000

1,800

1,600

1,400

1,200

1,000

800

600

400

200

0

Source: SACE.

Copper products: opportunities in Tunisia

Investments in development projects are driving Italian exports of metals to Tunisia. In 2010 these will increase in value by 30%, to around €

400 million. Although not particularly high in absolute terms, the prospects

are good. Positive growth will continue over the coming years and, although

not increasing at the same speed (average growth of 9% for 2011-2014), sales

will exceed € 0.5 billion (Fig. 29). Exports of copper products, especially cables,

are enjoying particularly dynamic growth. These increased by 134% in the first

eight months of 2010, accounting for 38% of Italian exports of metals to this

country, compared to 24% for the same period in 2009.

The rising demand for copper products is driven by projects to modernise various sectors of the economy. Over the next ten years the Tunisian

government plans to restructure the country’s 2100 km rail network to make it

more efficient. Tunisia is also involved in the High Speed Maghreb Rail Network

project, which will link the country with the rest of the Maghreb region. In the

renewable energy sector, the Tunisian Solar Plan was set up in December 2009

with the aim of increasing the use of renewable energy sources from 0.4% in

2008 to 10% in 2020. The Tunisian Solar Plan encompasses forty projects to be

implemented between 2010 and 2016. One of these, in partnership with Italy,

is called Power Interconnection with Italy and will be launched in 2016. ICT,

Demand for copper is driving metal exports to Tunisia.

58


58

which accounts for 10% of Tunisia’s GDP, will also benefit from investments to

increase added value and diversify the economy.

Fig.29ExportsofmetalstoTunisia:volumesandchanges

200720062005 2008 2009 2010 2011 2012 2013 2014

600

550

500

450

400

350

300

250

200

150

100

35

25

15

5

-5

-15

EUR,

mln

Metal export in TunisiaExport growth, %

Source: SACE.

Turkey’s motor vehicle sector will drive exports of rubber and plastic.

Italian exports of rubber and plastic to Turkey recovered in 2010, after

contracting in 2009 (-17%). In the first eight months of the year the value of

these exports rose by 40% compared to the same period for the previous year.

Exports in this sector are expected to grow by 29% in 2010 to reach € 520

million, and by 17% in 2011 (to € 616 million), but at different rates in the two

categories in this sector.

Buoyant growth in the Turkish motor vehicle sector, where turnover is forecast to increase by around 40% in 2010, will have an extremely positive

effect on Italian exports of rubber goods, such as tyres and other products. The

recovery of exports of plastic products is linked to a number of factors, as demand

for unprocessed plastic materials, the biggest item of Italian exports, comes from

various manufacturing industries (consumer goods, motor vehicles, construction).

There are particularly favourable prospects for exports of plastic materials used in

industrial processes (moulds, rollers and packaging materials), consumer goods

(flooring, earthenware, products for the cosmetics industry) and, as in the case of

rubber products, in the motor vehicles industry (gaskets, car interiors).

Automotive and manufacturing

are sources of demand for rubber and

plastic exports.


5959

Fig.30ItalianmarketshareofrubberandplasticinTurkey

200720062005 2008 2009 2010 2011 2012 2013 2014

4,000

3,500

3,000

2,500

2,000

1,500

1,000

500

0

Turkish imports plastic & rubber Turkish imports plastic & rubber from Italy

EUR,

mln

Source: SACE and Global Insight.

Electrical equipment in China and Malaysia: “high power” markets.

Exports of electrical equipment to Asia are highly dynamic, having rebounded by 17% in 2010 2010 following a similar contraction in 2009.

This growth is linked to the increased power generation capacity of emerging

Asia which is forecast to grow by 35% between 2007 and 2015, faster than

anywhere else in the world. There are differences in the value of Italian

exports to the various markets in the region. While China is a well-established

destination for Italian exports, first in size with Poland among the emerging

markets, with exports in this sector worth € 630 million in 2010 (forecast to

average more than € 800 million for 2011-2014), Malaysia is an expanding

market, where sales are lower (€ 120 million in 2010) but on the rise. Growth

in both markets was extremely dynamic in 2010 (Fig. 31), 20% in China and

24.2% in Malaysia, with forecast for more moderate but still positive growth

in the coming years (10% and 7.4%, respectively, on average, in 2011-2014).

Between 2007 and 2015, China’s electricity generation capacity will increase from 716 to 1021 gigawatts (42%). The country has different

sources of electricity, the main one being coal, which accounted for almost

70% of its total electricity generation in 2007 (61% forecast for 2015). However,

renewable energy is gathering momentum, not only hydroelectric power,

Expansion in the power sector will increase demand for electrical equipment.

60


60

which is expected to exceed 250 gigawatts in 2015 (145 in 2007), but also solar

power (the “Golden Sun” project launched by the Chinese Ministry of Finance)

and wind power which is currently only a minor industry but is expected to

grow by 550% between 2007 and 2015.

Italian exports of electrical equipment to Malaysia mainly consist of parts used to produce components (circuits and micro-assemblies) as this

country is a major manufacturer of semi-conductors and electronic compo-

nents. In the first eight months of 2010 Italian exports to Malaysia of integra-

ted circuits and electrical micro-assemblies grew by 417%.

Fig.31ItalianexportsofelectricalequipmenttoChinaandMalaysia

% ch

ange

Giga

wat

t*

30

25

20

15

10

5

0

-5

-10

-15

-20

-25

-30

-35

-40

% ch

ange

2007 2008 2009 2010 2011 2012 2013 2014

30

25

20

15

10

5

0

-5

-10

-15

-20

-25

-30

-35

-40

2007 2008 2009 2010 2011 2012 2013 2014

a) Electrical equipment: export in China b) Electrical equipment: import/export Italy Malaysia

Malaysian import (world)Italian export in MalaysiaItalian export in China

42%

2007 2015

2.000

1.000

0

* The bar chart shows the growth in China’s electricity production capacity, in gigawatts.

Source: SACE and International Energy Outlook 2010. Source: SACE and Global Insight.

6. gEO-SECTORAlCOORdINATES 7. IfThEEUROAppRECIATES

61

23 The USD-EUR exchange rate would therefore rise to 1.43 in 2011 and then fall to 1.41 the following year.24 The alternative scenario envisages a revaluation of 15% in 2011 and of 11% in 2012 (6% and 5%, respectively, in the baseline scenario).

Although far less likely than the baseline scenario, an appreciation of the euro cannot be excluded. We have already seen an appreciation of the

bilateral exchange rate against the dollar as a result of new, non-conventional

expansionary monetary policies introduced by the Federal Reserve. However,

the recent joint EU - IMF intervention in Ireland has stoked concern about

the euro. Foreign exchange rates have thus become more volatile. Following

the elections, the United States has made adjustments to its public finances.

This, combined with a gradual easing of tensions in the weakest eurozone

economies, could lead to further appreciation of the euro. An alternative

scenario (euro scenario) might be characterised by a 10% nominal appreciation

of the euro in 2011, and a relatively stable exchange rate the following year23.

This would have a significant impact on the value of Italian exports of goods

and the forecast growth for 2011-2012 would fall by more than two percentage

points (from +7.4% to +5.1%). The impact would be mitigated, dropping to

1.6 percentage points, if China were to speed up the revaluation of the yuan

against the dollar (euro yuan scenario; Fig. 32)24.

Fig.32Exportsofgoodsbygroup:alternativescenarios

Baseline Euro alternative Euro yuan alternative

Total goods Agricultural Consumer Intermediate Investment

10

9

8

7

6

5

4

3

2

1

0

% ch

ange

in v

alue

, ave

rage

201

1-12

Source: SACE.

Exports of consumer goods would be hit hardest by a stronger euro. If the euro were to appreciate, the average growth of Italian exports of these

products would fall by about 40% in 2011-2012 (from 4.9% to 3%). Exports

would decrease by about 30% in all the other groups, with intermediate goods

In 2011 a 1.43 exchange rate will cut export growth by 2.3 pp.

Appreciation would have less impact on chemicals, rubber and plastic.

7. IfThEEUROAppRECIATES

62

falling the least (from 9.2% to 6.6%). This group includes sectors that are more

closely linked to trends in commodity prices, which would therefore benefit

more from the effects of a high exchange rate on the cost of raw materials. If

the appreciation of the euro were to be accompanied by a more flexible yuan,

exports in these groups would fall by around 20% (30% for consumer goods).

The sectors within each group that would be affected the most in the “euro

scenario” are: food in agricultural goods; textiles and clothing in consumer

goods; metals and mechanical engineering in intermediate and capital goods

(Fig. 33). Exports of chemicals, rubber and plastic products and electrical

appliances would however continue to grow at a rate of at least 6%.

Fig.33Exportsofgoodsbysector:alternativescenarios

Average totalgoods

14

12

10

8

6

4

2

0

% ch

ange

in v

alue

, ave

rage

201

1-12

Baseline Euro alternative

Source: SACE.

The growth of Italian exports of goods to markets in North America and the Middle East would be hit the hardest (Fig. 34). The result is not entirely

obvious, considering the fact that in Middle Eastern countries, especially Saudi

Arabia and Qatar, the exchange rate is practically fixed against the dollar.

Italian sales to the two regions would slow, respectively, by 2.8 (from +6.5%

to +3.7%) and by 2.1 percentage points (from +5.8% to +3.7%). Growth in

exports to other European countries (which would slow from +7.6% to +6.1%),

including important markets such as Russia and Turkey, and to North Africa

(which would fall from +8.2% to +6.1%) would be less negatively impacted

and come into line, in both cases, with growth rates for sales to Asia, unlike

North Africa and other European

countries would be affected less

by a strong euro.

7. IfThEEUROAppRECIATES

63

25 According to Felettigh and Federico (2010), the sectoral and geographical composition of Italian exports does not expose them to a relatively more elastic demand compared to competitors such as France, Germany and Spain.

in the baseline scenario25. Latin America would continue to be the liveliest

growth area for the two-year forecast period, even with a stronger euro.

Fig.34Exportsofgoodsbyarea*:alternativescenarios

EU 15

Other EU

Other Europe

North America

Latin America

Asia

Sub-saharan Africa

North Africa

Middle East

World

5 6 7 8 9 10 11

8

7

6

5

4

3 % ch

ange

in va

lue,

aver

age 2

011-

12 (e

uro a

ltern

ative

)

% change in value, average 2011-12 (baseline)

* The diameter of the circles indicates the weight of Italian exports to the area (2010).

Source: SACE.

64

Barba Navaretti, Bugamelli et al (2010). The Global Operations of European

Firms, The Second EFIGE Policy Report, June.

CSC, Prometeia and SACE (2010). Esportare la dolce vita. Le nuove opportunità

per il lusso accessibile Italiano, April.

CSIL (2010). Previsioni sul settore dell’arredamento in Italia e nel mondo nel 2011,

November.

De Nardis (2010). Se la locomotive va nella direzione sbagliata, article published

in www.lavoce.info, October.

EIA (2010). International Energy Outlook, July.

Eichengreen (2010). Come evitare la guerra delle valute, article published in

www.lavoce.info, October.

Federchimica (2010). L’industria chimica italiana e nel mondo, Memo, June.

Felettigh and Federico (2010). Measuring the price elasticity of import demand

in the destination markets of Italian exports, Banca d’Italia working paper No. 776,

October.

IMF (2010a). World Economic Outlook. Recovery, Risk, and Rebalancing, October.

IMF (2010b). Global Financial Stability Report, Sovereigns, Funding, and Systemic

Liquidity, October.

ICE (2010). Annual Report 2009-2010. L’Italia nell’economia internazionale, July.

International Chamber of Commerce (2010). Rethinking Trade Finance, April.

Intesa San Paolo (2010). Monitor dei distretti, October.

Prometeia – Intesa SanPaolo (2010). Analisi settori industriali. October.

Reinhart and Reinhart (2010). After the Fall, NBER Working Paper No. 16334,

September.

Unicredit (2010). Strategie d’acciaio, Il punto sul corporate, No. 11, October.

REfERENCES

65

AppENdIX1

The Italian trade model (ITRADE)

The Italian trade model (ITRADE) is a bilateral-sectoral model used to analyse

the trends and key drivers of Italian export performance. It is based on the

Oxford Economics (OE) Global Macroeconomic Model (GMM). The GMM is a

quarterly macroeconometric model that covers 44 economies (including Italy)

together with the other regional blocks that complete the world picture. In this

model, each economy has a specific module covering variables such as prices,

labour market, income and wealth, public finances and financial markets.

The modules reflect the different ways in which economies interact with one

another within the global system.

SACE uses the GMM for the Italian economy as the basis for the ITRADE

model, replacing the single equation for goods exports with a set of equations

covering exports in four main categories (agriculture - which also includes

food, beverages and tobacco - consumer, intermediate and capital goods) to

each country. Data for Italian exports of goods to other countries are released

by Eurostat and are available for each month starting from January 1995. These

data are classified according to the Harmonised System (HS) of codes. Similarly,

the single equation for service exports has also been replaced with a bilateral

trade linkage.

These equations are based on the concept that Italian exports are

determined by increased demand of trade partners and trends in the relative

prices (competitiveness). This implies that, in the absence of changes in

competitiveness or changes in exogenous factors such as trade sanctions or

tariffs, Italy’s market shares should remain stable.

The main categories named above are divided into sectors in order to provide

a more detailed analysis of exports of goods. Mineral products, for instance, are

classified as a component of the intermediate goods category and mechanical

engineering is a component of capital goods (Diagram 1).

To summarise, in this detailed trade model:

� Italian exports are modelled by sector for each of the trade partners

specified, with the addition of 11 other countries not included in the GMM

model (54 countries);

� Sectoral trends with key trading partners determine Italy’s total exports,

which, in turn, impact GDP and other economic variables;

66

AppENdIX1

� Demand growth in the destination countries is the most important factor

that influences export performance, especially in the short term. The

determinants of this demand are thus important;

� Price competitiveness is also a determinant of export performance and

is itself influenced by developments in the domestic economy (wages,

employment, other cost factors) as well as changes in the economies of

trade partner countries;

� Competitiveness indicators, based on relative wage costs, are determined

consistently across the countries included in the model. Thus, for Italy, the

measure of competitiveness is based on relative Italian prices compared

with a weighted average of competitors’ prices.

Diagram1:Modelstructure

The codes of the HS classification system for the sector aggregates are shown in brackets.

Woods products(44-49, 94)

Textiles & clothing(50-67)

Other (41-43, 68-71, 91-92, 94-97)

Mechanical engineering (82, 84)

Electrical products (85)

Transport equipment (86-89)

Other(90, 93)

Agricolture& food

Consumer goods

Other(01-15)

Food, drink & tobacco (16-24)

Metals(72-81, 83)

Plastics & rubbers (39-40)

Investmentgoods

Intermediategoods

Chemicals(28-38)

Mineral products (25-27)

Goods

67

AppENdIX2

Methodology

The scenarios used for chapter 5 are based on the MOPICE model, developed by Prometeia in partnership with the Italian Institute for Foreign Trade. This model deflates the flows of value in the FIPICE database, in order to divide the changes at current prices into a quantity component and a price component, to generate a projected value.

The FIPICE contains trade flow data, at annual rates and current dollar prices, between about 70 countries and geographical regions (giving an overall picture of world trade) for more than 120 product categories. The data set is based on information provided by Unctad/WTO and Global Trade Atlas.

Price trends are estimated on the basis of changes in consumer prices in importer countries, costs of production in exporter countries and international prices of the various raw materials involved in the production processes of each single sector. The model calculates trends in quantities on the basis of changes in a specific indicator of demand for each importer country and group of sectors; projections of estimated performance by the various exporters are linked to their specific market power, in each single country and sector, to differences between the various exporters’ costs of production and the elasticity of the specific exchange rates relevant to each exporter, always in relation to the specific sector and market of reference.

Additional tables

Prometeia forecast

App.2TableIWorldtradeformechanicalengineering

Level 2009 2009 2003 - 2008 2003 - 2008

Sector and category EUR million* % change % change A.a.** % change

Manufacturing industry 6,847,978 -13.7 45.0 5.9

Total Mechanical 668,136 -21.5 60.0 7.8

Total Mechanical engineering 251,417 -27.7 64.1 8.3

ofwhich:

Machine tools 26,036 -34.7 53.2 6.6

Machinery for the paper and cardboard industry 14,448 -26.8 7.2 0.0

Machinery for the food and beverages industry 8,937 -19.1 47.7 6.4

Machinery for hot metallurgy 7,255 -7.1 121.5 14.3

* Figures in current EUR. ** Annual average.Source: Prometeia.

68

AppENdIX2

App.2TableIITop10importersofItalianmechanicalengineering

Level 2009 2009 2003 - 2008 Weight Share Country EUR million* % change % change As % As %

Germany 1,754 -27.5 7.2 8.0 11.7

France 1,673 -25.2 3.0 7.7 16.6

China 1,555 1.5 3.1 7.1 6.3

U.S. 1,341 -34.7 2.6 6.1 5.9

Russia 866 -44.6 25.3 4.0 11.8

Iran 853 -5.4 7.5 3.9 35.6

Spain 711 -44.4 -3.1 3.3 20.0

Poland 655 -27.7 11.2 3.0 16.2

India 614 -14.6 22.2 2.8 9.7

Turkey 548 -32.1 5.3 2.5 19.3


App.2TableIIIMachineryimportsbygeographicalarea

Level 2009 2009 2003 - 2008 2003 - 2008 Weight Area EUR million* % change % change A.a.** % change As %

Machine tools

Asia and Pacific 9,659 -20.7 34.2 6.2 37.1

Western Europe 7,507 -43.3 54.4 5.5 28.8Neighbouring emerging economies 4,572 -37.1 117.6 14.3 17.6

NAFTA 3,388 -41.5 26.2 1.4 13.0

Latin America 910 -34.1 210.8 18.5 3.5

Machinery for metallurgy

Asia and Pacific 3,319 8.5 133.5 16.7 45.7Neighbouring emerging economies 1,628 -15.8 180.7 22.3 22.4

Western Europe 1,247 -23.8 81.3 8.9 17.2

NAFTA 602 -27.2 62.9 6.1 8.3

Latin America 459 29.0 201.4 15.5 6.3

Machinery for the food, beverage and tobacco industry

Western Europe 2,698 -20.2 26.5 4.3 30.2

Asia and Pacific 2,405 -5.7 57.3 8.0 26.9Neighbouring emerging economies 2,195 -27.3 67.2 8.6 24.6

NAFTA 970 -22.6 16.6 1.1 10.9

Latin America 669 -20.7 176.0 13.8 7.5

Machinery for the paper and cardboard industry

Western Europe 5,034 -27.4 -3.3 -2.4 34.8

Asia and Pacific 4,352 -18.6 6.8 0.8 30.1Neighbouring emerging economies 2,345 -33.8 52.1 7.6 16.2

NAFTA 1,796 -33.5 -18.3 -4.7 12.4

Latin America 921 -23.4 103.9 10.1 6.3


69

AppENdIX3

Detailed tables of forecast exports by sector*

Indexoftables

Values in millions of euro and % changes

Table 1 Exports of goods and services by destination country

Table 2 Exports of goods by destination country

Table 2.1 Exports of agricultural goods by destination country

Table 2.1.a Exports of food, beverages and tobacco by destination country

Table 2.1.b Exports of other agricultural goods by destination country

Table 2.2 Exports of consumer goods by destination country

Table 2.2.a Exports of wood products by destination country

Table 2.2.b Exports of textiles and clothing by destination country

Table 2.2.c Exports of other consumer goods by destination country

Table 2.3 Exports of intermediate goods by destination country

Table 2.3.a Exports of mineral products by destination country

Table 2.3.b Exports of chemicals by destination country

Table 2.3.c Exports of rubber and plastic by destination country

Table 2.3.d Exports of metals by destination country

Table 2.4 Exports of capital goods by destination country

Table 2.4.a Exports of mechanical engineering by destination country

Table 2.4.b Exports of electrical equipment by destination country

Table 2.4.c Exports of means of transport by destination country

Table 2.4.d Exports of other capital goods by destination country

Table 3 Exports of services by destination country

* Area sub-totals are calculated as sums of exports to countries included in the ITRADE model only.

70

Table 1 Value of exports of goods and services by destination country (values in millions of euro and % changes)

2008 2009 2010 2011 2012 2013 2014

(€ mln) % (€ mln) % (€ mln) % (€ mln) % (€ mln) % (€ mln) % (€ mln) %

World 452,093.8 1.0 364,043.0 -19.5 396,167.1 8.8 425,129.9 7.3 454,334.6 6.9 484,928.2 6.7 515,516.7 6.3

EU 15 224,281.8 -3.0 177,627.0 -20.8 188,730.8 6.3 199,905.7 5.9 212,610.3 6.4 225,176.7 5.9 237,271.1 5.4

Austria 10,804.1 -2.2 8,569.7 -20.7 9,074.3 5.9 9,587.8 5.7 10,132.1 5.7 10,655.6 5.2 11,158.4 4.7

Belgium 12,157.7 -5.6 10,090.5 -17.0 10,774.5 6.8 11,478.9 6.5 12,222.0 6.5 12,912.8 5.7 13,585.6 5.2

Germany 58,778.4 1.1 46,861.9 -20.3 50,949.2 8.7 54,361.6 6.7 57,999.6 6.7 61,561.3 6.1 64,937.9 5.5

Denmark 3,193.0 -8.1 2,223.8 -30.4 2,324.3 4.5 2,472.3 6.4 2,624.9 6.2 2,771.7 5.6 2,905.7 4.8

Spain 27,432.0 -10.9 19,230.8 -29.9 20,302.1 5.6 21,256.7 4.7 22,506.1 5.9 23,756.4 5.6 25,034.3 5.4

Finland 2,005.0 -19.3 1,433.0 -28.5 1,485.3 3.6 1,590.2 7.1 1,704.8 7.2 1,817.3 6.6 1,928.8 6.1

France 48,747.7 -1.0 39,832.9 -18.3 42,694.0 7.2 45,429.9 6.4 48,428.3 6.6 51,384.1 6.1 54,325.6 5.7

United Kindom 28,703.3 -8.3 23,015.8 -19.8 24,567.7 6.7 25,777.0 4.9 27,230.8 5.6 28,745.5 5.6 30,123.6 4.8

Greece 8,511.3 2.1 6,553.7 -23.0 6,220.0 -5.1 6,398.5 2.9 6,769.3 5.8 7,157.6 5.7 7,512.6 5.0

Ireland 3,090.0 -9.2 2,277.4 -26.3 2,199.8 -3.4 2,263.5 2.9 2,422.4 7.0 2,593.0 7.0 2,753.0 6.2

Netherland 12,321.0 6.5 10,203.5 -17.2 10,800.4 5.8 11,506.3 6.5 12,304.7 6.9 13,087.6 6.4 13,814.9 5.6

Portugal 3,887.7 -0.1 4,053.3 4.3 3,762.2 -7.2 3,966.0 5.4 4,196.0 5.8 4,414.9 5.2 4,624.1 4.7

Sweden 4,650.6 -0.4 3,280.7 -29.5 3,577.0 9.0 3,817.0 6.7 4,069.3 6.6 4,318.9 6.1 4,566.6 5.7

Other EU 31,015.7 3.6 22,776.9 -26.6 24,068.0 5.7 25,919.7 7.7 27,935.1 7.8 29,930.7 7.1 31,943.8 6.7

Bulgaria 2,100.0 8.9 1,345.4 -35.9 1,334.6 -0.8 1,424.3 6.7 1,523.7 7.0 1,602.5 5.2 1,679.3 4.8

Czech Republic 4,618.9 1.7 3,385.9 -26.7 3,663.2 8.2 3,959.6 8.1 4,265.0 7.7 4,572.1 7.2 4,879.7 6.7

Hungary 4,354.7 -0.7 3,026.2 -30.5 3,233.2 6.8 3,463.3 7.1 3,727.6 7.6 3,993.5 7.1 4,259.3 6.7

Poland 10,628.8 5.2 8,604.2 -19.0 9,017.3 4.8 9,763.0 8.3 10,510.2 7.7 11,251.9 7.1 12,002.2 6.7

Slovakia 2,367.4 4.8 1,845.7 -22.0 2,021.8 9.5 2,182.1 7.9 2,351.3 7.8 2,513.5 6.9 2,670.7 6.3

Romania 6,945.9 3.2 4,569.5 -34.2 4,797.9 5.0 5,127.4 6.9 5,557.3 8.4 5,997.2 7.9 6,452.6 7.6

Other Europe 46,655.0 7.3 36,644.9 -21.5 39,909.0 8.9 42,947.2 7.6 46,311.5 7.8 49,644.3 7.2 52,953.9 6.7

Belarus 489.3 38.0 380.6 -22.2 378.7 -0.5 394.1 4.1 413.0 4.8 437.2 5.9 466.1 6.6

Croatia 3,396.6 10.5 2,507.0 -26.2 2,365.1 -5.7 2,465.4 4.2 2,652.3 7.6 2,828.0 6.6 3,006.3 6.3

Russia 11,389.2 11.7 7,251.1 -36.3 7,945.1 9.6 8,540.7 7.5 9,176.0 7.4 9,804.8 6.9 10,426.7 6.3

Ukraine 2,523.9 17.6 1,330.2 -47.3 1,254.7 -5.7 1,292.3 3.0 1,387.9 7.4 1,486.5 7.1 1,585.7 6.7

Turkey 7,840.3 2.9 5,992.1 -23.6 7,366.9 22.9 8,372.8 13.7 9,163.8 9.4 9,925.8 8.3 10,672.8 7.5

Norway 2,213.9 14.1 1,639.3 -26.0 1,665.8 1.6 1,730.3 3.9 1,837.3 6.2 1,946.8 6.0 2,050.9 5.3

Switzerland 18,801.8 3.5 17,544.6 -6.7 18,932.7 7.9 20,151.6 6.4 21,681.2 7.6 23,215.2 7.1 24,745.4 6.6

North America 32,872.0 -7.8 25,532.4 -22.3 27,591.1 8.1 29,148.8 5.6 31,121.5 6.8 33,188.4 6.6 35,222.8 6.1

Canada 3,501.4 -4.2 2,855.1 -18.5 3,031.1 6.2 3,168.2 4.5 3,356.0 5.9 3,561.0 6.1 3,761.8 5.6

United States 29,370.6 -8.2 22,677.3 -22.8 24,560.0 8.3 25,980.6 5.8 27,765.5 6.9 29,627.4 6.7 31,461.0 6.2

71

2008 2009 2010 2011 2012 2013 2014


World 452,093.8 1.0 364,043.0 -19.5 396,167.1 8.8 425,129.9 7.3 454,334.6 6.9 484,928.2 6.7 515,516.7 6.3

Latin America 8,679.4 3.6 6,516.3 -24.9 7,748.7 18.9 8,587.7 10.8 9,366.4 9.1 10,128.7 8.1 10,871.1 7.3

Argentina 1,131.7 2.6 805.6 -28.8 992.3 23.2 1,078.1 8.6 1,155.6 7.2 1,232.2 6.6 1,305.2 5.9

Brazil 3,986.6 28.6 3,266.8 -18.1 4,001.2 22.5 4,510.4 12.7 4,968.8 10.2 5,417.2 9.0 5,852.5 8.0

Chile 596.2 -0.7 559.3 -6.2 645.3 15.4 699.4 8.4 752.7 7.6 806.4 7.1 858.3 6.4

Mexico 2,964.9 -17.0 1,884.6 -36.4 2,109.9 12.0 2,299.8 9.0 2,489.3 8.2 2,672.9 7.4 2,855.1 6.8

Asia 30,794.4 0.6 27,766.1 -9.8 31,004.7 11.7 33,731.4 8.8 36,603.6 8.5 39,480.5 7.9 42,314.7 7.2

Australia 3,767.5 2.2 3,123.9 -17.1 3,411.9 9.2 3,636.1 6.6 3,873.4 6.5 4,114.1 6.2 4,351.4 5.8

China 6,866.9 2.8 7,057.4 2.8 8,201.8 16.2 9,165.1 11.7 10,182.2 11.1 11,218.2 10.2 12,236.4 9.1

Hong Kong 3,498.9 0.0 2,952.1 -15.6 3,329.2 12.8 3,562.2 7.0 3,797.4 6.6 4,020.7 5.9 4,234.0 5.3

Indonesia 640.6 7.5 516.3 -19.4 606.5 17.5 672.7 10.9 729.8 8.5 787.1 7.9 844.4 7.3

India 3,366.1 0.6 2,989.7 -11.2 3,409.4 14.0 3,768.0 10.5 4,131.3 9.6 4,500.1 8.9 4,864.7 8.1

Japon 5,055.1 -4.2 4,463.9 -11.7 4,525.0 1.4 4,675.9 3.3 4,964.7 6.2 5,249.4 5.7 5,527.8 5.3

South Korea 2,733.4 0.5 2,288.9 -16.3 2,544.8 11.2 2,740.7 7.7 2,953.4 7.8 3,170.9 7.4 3,392.1 7.0

Malaysia 731.9 -8.2 747.7 2.2 892.8 19.4 979.4 9.7 1,049.6 7.2 1,117.9 6.5 1,182.4 5.8

Philippines 290.4 12.9 241.9 -16.7 271.9 12.4 294.5 8.3 318.4 8.1 341.8 7.3 364.4 6.6

Singapore 1,834.7 -0.5 1,611.7 -12.2 1,763.6 9.4 1,973.8 11.9 2,146.1 8.7 2,311.8 7.7 2,481.0 7.3

Thailand 1,037.2 17.1 861.1 -17.0 975.9 13.3 1,061.9 8.8 1,147.4 8.1 1,231.3 7.3 1,313.0 6.6

Taiwan 971.7 -5.5 911.5 -6.2 1,071.9 17.6 1,201.1 12.1 1,309.9 9.1 1,417.2 8.2 1,523.1 7.5

North Africa 11,956.5 33.7 10,625.7 -11.1 11,400.4 7.3 12,279.7 7.7 13,326.0 8.5 14,323.7 7.5 15,352.6 7.2

Algeria 3,095.8 60.4 2,679.9 -13.4 2,738.3 2.2 2,914.7 6.4 3,150.2 8.1 3,366.5 6.9 3,587.4 6.6

Egypt 3,111.4 33.2 2,801.9 -9.9 2,941.7 5.0 3,111.8 5.8 3,402.2 9.3 3,689.2 8.4 3,983.4 8.0

Libya 2,640.1 62.9 2,448.7 -7.2 2,582.4 5.5 2,767.3 7.2 2,989.2 8.0 3,203.2 7.2 3,429.4 7.1

Tunisia 3,109.2 1.8 2,695.2 -13.3 3,138.0 16.4 3,485.9 11.1 3,784.4 8.6 4,064.8 7.4 4,352.4 7.1

Sub-saharan Africa 2,808.9 -5.5 2,793.4 -0.6 2,976.3 6.5 3,200.0 7.5 3,439.6 7.5 3,675.8 6.9 3,908.8 6.3

Angola 222.1 14.0 512.7 130.8 445.5 -13.1 459.8 3.2 494.9 7.6 529.1 6.9 564.4 6.7

Nigeria 1,024.6 -6.7 1,102.5 7.6 1,234.9 12.0 1,337.0 8.3 1,438.6 7.6 1,541.1 7.1 1,645.1 6.7

South Africa 1,562.2 -6.9 1,178.2 -24.6 1,295.9 10.0 1,403.2 8.3 1,506.1 7.3 1,605.6 6.6 1,699.3 5.8

Middle east 10,108.8 11.4 7,487.1 -25.9 7,333.9 -2.0 7,644.3 4.2 8,200.7 7.3 8,770.4 6.9 9,358.2 6.7

Qatar 1,526.2 -5.9 1,215.4 -20.4 1,221.7 0.5 1,292.4 5.8 1,401.5 8.4 1,506.8 7.5 1,614.2 7.1

Saudi Arabia 3,314.4 9.4 2,449.1 -26.1 2,502.1 2.2 2,631.9 5.2 2,799.7 6.4 2,968.2 6.0 3,147.8 6.1

UAE 5,268.2 19.2 3,822.6 -27.4 3,610.1 -5.6 3,720.0 3.0 3,999.5 7.5 4,295.4 7.4 4,596.2 7.0

72

Table 2 Value of exports of goods by destination country (values in millions of euro and % changes)

2008 2009 2010 2011 2012 2013 2014


World 369,220.2 1.2 291,898.3 -20.9 322,028.3 10.3 348,065.7 8.1 371,387.3 6.7 395,168.7 6.4 419,422.9 6.1

EU 15 179,442.8 -3.9 138,830.0 -22.6 149,178.8 7.5 159,225.2 6.7 169,217.9 6.3 178,531.4 5.5 187,688.7 5.1

Austria 8,757.1 -0.4 6,761.3 -22.8 7,212.3 6.7 7,715.6 7.0 8,184.9 6.1 8,621.9 5.3 9,051.2 5.0

Belgium 9,713.7 -7.8 7,939.7 -18.3 8,570.1 7.9 9,192.0 7.3 9,765.1 6.2 10,259.4 5.1 10,750.6 4.8

Germany 46,879.4 -0.2 36,409.4 -22.3 40,283.6 10.6 43,353.9 7.6 46,230.9 6.6 48,889.7 5.8 51,439.9 5.2

Denmark 2,701.0 -5.8 1,811.6 -32.9 1,902.6 5.0 2,036.2 7.0 2,158.9 6.0 2,271.3 5.2 2,375.1 4.6

Spain 23,937.0 -11.9 16,338.0 -31.7 17,469.8 6.9 18,414.1 5.4 19,473.7 5.8 20,485.5 5.2 21,551.8 5.2

Finland 1,703.0 -13.7 1,186.5 -30.3 1,232.3 3.9 1,327.5 7.7 1,422.5 7.2 1,512.4 6.3 1,603.5 6.0

France 41,189.7 -1.2 33,275.5 -19.2 35,909.0 7.9 38,445.8 7.1 41,011.4 6.7 43,425.5 5.9 45,863.2 5.6

United Kindom 19,196.3 -9.1 14,776.3 -23.0 16,170.4 9.4 17,121.2 5.9 18,006.3 5.2 18,825.1 4.5 19,592.4 4.1

Greece 7,812.3 0.9 5,957.2 -23.7 5,628.4 -5.5 5,798.6 3.0 6,123.2 5.6 6,458.5 5.5 6,764.2 4.7

Ireland 1,399.0 -18.5 892.8 -36.2 826.4 -7.4 859.0 3.9 918.2 6.9 973.4 6.0 1,027.9 5.6

Netherland 8,621.0 0.2 7,001.5 -18.8 7,515.2 7.3 8,094.3 7.7 8,645.0 6.8 9,144.4 5.8 9,625.2 5.3

Portugal 3,568.7 1.1 3,771.7 5.7 3,478.0 -7.8 3,673.9 5.6 3,884.7 5.7 4,080.8 5.0 4,268.0 4.6

Sweden 3,964.6 -1.2 2,708.5 -31.7 2,980.7 10.0 3,193.1 7.1 3,393.1 6.3 3,583.5 5.6 3,775.7 5.4

Other EU 27,449.7 5.2 19,770.8 -28.0 20,962.5 6.0 22,668.6 8.1 24,408.8 7.7 26,089.8 6.9 27,810.8 6.6

Bulgaria 1,917.0 7.8 1,187.9 -38.0 1,173.9 -1.2 1,260.4 7.4 1,351.6 7.2 1,420.9 5.1 1,490.1 4.9

Czech Republic 4,005.9 3.7 2,880.6 -28.1 3,137.2 8.9 3,404.7 8.5 3,660.3 7.5 3,910.0 6.8 4,164.5 6.5

Hungary 3,619.7 -2.4 2,410.2 -33.4 2,604.7 8.1 2,808.4 7.8 3,016.8 7.4 3,218.9 6.7 3,426.2 6.4

Poland 9,681.8 9.2 7,789.7 -19.5 8,169.1 4.9 8,878.7 8.7 9,555.8 7.6 10,215.9 6.9 10,890.9 6.6

Slovakia 2,029.4 5.9 1,551.9 -23.5 1,715.9 10.6 1,859.9 8.4 1,999.8 7.5 2,132.1 6.6 2,261.8 6.1

Romania 6,195.9 3.8 3,950.5 -36.2 4,161.7 5.3 4,456.5 7.1 4,824.5 8.3 5,192.0 7.6 5,577.3 7.4

Other Europe 39,919.0 9.4 30,726.7 -23.0 33,760.3 9.9 36,412.7 7.9 39,097.0 7.4 41,639.1 6.5 44,191.2 6.1

Belarus 467.3 40.9 362.0 -22.5 359.8 -0.6 374.7 4.1 392.4 4.7 415.1 5.8 442.5 6.6

Croatia 3,122.6 11.6 2,274.6 -27.2 2,132.7 -6.2 2,224.5 4.3 2,392.8 7.6 2,546.7 6.4 2,704.2 6.2

Russia 10,443.2 9.5 6,466.1 -38.1 7,123.6 10.2 7,658.0 7.5 8,194.5 7.0 8,710.7 6.3 9,226.0 5.9

Ukraine 2,353.9 19.9 1,188.1 -49.5 1,112.0 -6.4 1,145.1 3.0 1,230.1 7.4 1,317.0 7.1 1,406.2 6.8

Turkey 7,397.3 4.5 5,611.0 -24.1 6,964.6 24.1 7,943.5 14.1 8,684.8 9.3 9,386.1 8.1 10,086.6 7.5

Norway 1,738.9 13.3 1,241.9 -28.6 1,261.5 1.6 1,318.6 4.5 1,398.2 6.0 1,474.1 5.4 1,547.8 5.0

Switzerland 14,395.8 8.6 13,583.0 -5.6 14,806.1 9.0 15,748.3 6.4 16,804.2 6.7 17,789.4 5.9 18,777.9 5.6

North America 25,514.0 -5.1 19,192.9 -24.8 21,077.1 9.8 22,453.4 6.5 23,888.0 6.4 25,306.5 5.9 26,732.2 5.6

Canada 2,594.4 -5.0 2,076.6 -20.0 2,230.8 7.4 2,346.9 5.2 2,484.8 5.9 2,619.4 5.4 2,754.4 5.2

United States 22,919.6 -5.1 17,116.3 -25.3 18,846.3 10.1 20,106.5 6.7 21,403.2 6.4 22,687.1 6.0 23,977.8 5.7

73

2008 2009 2010 2011 2012 2013 2014


World 369,220.2 1.2 291,898.3 -20.9 322,028.3 10.3 348,065.7 8.1 371,387.3 6.7 395,168.7 6.4 419,422.9 6.1

Latin America 7,493.4 2.5 5,497.2 -26.6 6,690.0 21.7 7,481.5 11.8 8,168.3 9.2 8,823.0 8.0 9,464.0 7.3

Argentina 876.7 3.0 589.3 -32.8 771.0 30.8 847.8 10.0 905.9 6.9 960.7 6.0 1,013.8 5.5

Brazil 3,309.6 30.1 2,684.7 -18.9 3,389.7 26.3 3,868.3 14.1 4,271.1 10.4 4,653.7 9.0 5,026.9 8.0

Chile 528.2 2.6 497.4 -5.8 581.4 16.9 632.8 8.8 680.7 7.6 728.2 7.0 774.3 6.3

Mexico 2,778.9 -18.3 1,725.8 -37.9 1,947.9 12.9 2,132.6 9.5 2,310.6 8.3 2,480.4 7.3 2,649.0 6.8

Asia 27,465.4 1.7 24,825.7 -9.6 27,932.5 12.5 30,488.4 9.2 33,063.4 8.4 35,597.7 7.7 38,104.3 7.0

Australia 2,866.5 3.7 2,365.3 -17.5 2,626.2 11.0 2,817.1 7.3 2,989.7 6.1 3,155.2 5.5 3,322.9 5.3

China 6,409.9 2.4 6,629.0 3.4 7,733.8 16.7 8,647.9 11.8 9,592.6 10.9 10,543.6 9.9 11,475.6 8.8

Hong Kong 3,227.9 -2.1 2,707.2 -16.1 3,071.9 13.5 3,290.8 7.1 3,503.1 6.5 3,700.3 5.6 3,889.0 5.1

Indonesia 612.6 11.0 492.6 -19.6 581.6 18.1 646.5 11.2 701.6 8.5 756.6 7.8 811.8 7.3

India 3,049.1 3.3 2,707.3 -11.2 3,113.9 15.0 3,459.1 11.1 3,797.1 9.8 4,136.5 8.9 4,473.7 8.2

Japon 4,209.1 -1.9 3,704.9 -12.0 3,748.2 1.2 3,863.3 3.1 4,086.0 5.8 4,296.6 5.2 4,505.7 4.9

South Korea 2,573.4 2.7 2,154.3 -16.3 2,403.1 11.5 2,591.8 7.9 2,791.5 7.7 2,993.5 7.2 3,200.1 6.9

Malaysia 702.9 -2.5 720.7 2.5 864.2 19.9 949.3 9.8 1,016.4 7.1 1,081.2 6.4 1,142.4 5.7

Philippines 267.4 15.1 222.0 -17.0 251.2 13.2 272.7 8.6 294.7 8.1 315.9 7.2 336.4 6.5

Singapore 1,706.7 -0.2 1,498.9 -12.2 1,646.5 9.8 1,850.8 12.4 2,012.3 8.7 2,165.6 7.6 2,322.8 7.3

Thailand 971.2 20.5 804.8 -17.1 917.7 14.0 1,001.1 9.1 1,081.4 8.0 1,159.2 7.2 1,235.1 6.5

Taiwan 868.7 -5.6 818.7 -5.8 974.2 19.0 1,098.0 12.7 1,197.0 9.0 1,293.5 8.1 1,388.8 7.4

North Africa 11,477.4 35.3 10,197.2 -11.2 10,954.9 7.4 11,811.5 7.8 12,817.1 8.5 13,767.9 7.4 14,753.7 7.2

Algeria 2,998.7 63.3 2,593.4 -13.5 2,647.9 2.1 2,819.1 6.5 3,046.0 8.0 3,252.8 6.8 3,464.8 6.5

Egypt 2,893.4 35.7 2,604.4 -10.0 2,738.1 5.1 2,898.8 5.9 3,171.5 9.4 3,437.9 8.4 3,712.7 8.0

Libya 2,640.0 62.9 2,448.6 -7.3 2,582.3 5.5 2,767.2 7.2 2,989.1 8.0 3,203.1 7.2 3,429.3 7.1

Tunisia 2,945.3 1.8 2,550.8 -13.4 2,986.6 17.1 3,326.4 11.4 3,610.5 8.5 3,874.1 7.3 4,146.9 7.0

Sub-saharan Africa 2,408.8 -4.4 2,441.3 1.3 2,609.5 6.9 2,814.9 7.9 3,021.9 7.4 3,219.9 6.6 3,416.7 6.1

Angola 222.0 14.0 512.6 130.9 445.4 -13.1 459.7 3.2 494.8 7.6 529.0 6.9 564.3 6.7

Nigeria 775.6 -4.9 877.9 13.2 999.4 13.8 1,088.9 9.0 1,168.9 7.3 1,246.3 6.6 1,326.4 6.4

South Africa 1,411.2 -6.6 1,050.8 -25.5 1,164.7 10.8 1,266.3 8.7 1,358.2 7.3 1,444.6 6.4 1,526.0 5.6

Middle east 10,101.8 11.5 7,481.2 -25.9 7,328.0 -2.0 7,638.2 4.2 8,194.1 7.3 8,763.3 6.9 9,350.7 6.7

Qatar 1,525.1 -5.9 1,214.5 -20.4 1,220.8 0.5 1,291.5 5.8 1,400.5 8.4 1,505.7 7.5 1,613.1 7.1

Saudi Arabia 3,311.5 9.5 2,446.6 -26.1 2,499.6 2.2 2,629.3 5.2 2,796.9 6.4 2,965.2 6.0 3,144.6 6.1

UAE 5,265.2 19.2 3,820.1 -27.4 3,607.6 -5.6 3,717.4 3.0 3,996.7 7.5 4,292.4 7.4 4,593.0 7.0

74

Table 2.1 Value of exports of agricultural goods by destination country (values in millions of euro and % changes)

2008 2009 2010 2011 2012 2013 2014


World 26,754.6 8.9 24,785.8 -7.4 26,176.9 5.6 27,548.5 5.2 29,247.5 6.2 30,862.9 5.5 32,472.5 5.2

EU 15 16,571.1 7.0 15,522.7 -6.3 16,271.5 4.8 17,014.6 4.6 17,980.3 5.7 18,882.3 5.0 19,777.7 4.7

Austria 950.5 9.5 876.5 -7.8 916.3 4.5 956.3 4.4 1,018.6 6.5 1,081.8 6.2 1,145.2 5.9

Belgium 798.1 5.8 781.1 -2.1 819.9 5.0 857.7 4.6 904.4 5.4 941.4 4.1 975.5 3.6

Germany 5,268.4 5.7 4,911.4 -6.8 5,180.7 5.5 5,442.4 5.1 5,756.3 5.8 6,040.1 4.9 6,321.4 4.7

Denmark 418.7 9.7 377.2 -9.9 394.5 4.6 412.2 4.5 438.0 6.3 462.7 5.6 488.1 5.5

Spain 1,143.4 -0.8 1,025.0 -10.4 1,063.7 3.8 1,091.2 2.6 1,148.7 5.3 1,201.3 4.6 1,251.1 4.2

Finland 101.5 10.4 100.8 -0.7 104.8 4.0 109.3 4.3 114.9 5.1 119.9 4.4 124.8 4.0

France 3,107.6 9.3 3,025.7 -2.6 3,186.1 5.3 3,355.5 5.3 3,565.1 6.2 3,765.4 5.6 3,968.4 5.4

United Kindom 2,476.3 6.0 2,270.2 -8.3 2,398.0 5.6 2,505.1 4.5 2,620.7 4.6 2,731.6 4.2 2,842.2 4.1

Greece 722.3 10.3 682.5 -5.5 673.1 -1.4 685.4 1.8 726.8 6.0 766.7 5.5 808.0 5.4

Ireland 128.1 3.2 106.0 -17.3 103.2 -2.7 107.4 4.2 114.6 6.7 121.9 6.3 129.2 6.0

Netherland 875.4 11.0 828.1 -5.4 873.9 5.5 907.0 3.8 952.1 5.0 989.9 4.0 1,022.8 3.3

Portugal 177.6 16.6 177.2 -0.3 173.4 -2.1 180.8 4.3 191.7 6.0 204.7 6.8 219.5 7.2

Sweden 403.2 13.7 361.0 -10.5 383.9 6.3 404.3 5.3 428.4 6.0 454.9 6.2 481.5 5.8

Other EU 1,461.7 21.2 1,230.1 -15.8 1,291.3 5.0 1,361.7 5.5 1,457.7 7.1 1,554.0 6.6 1,653.6 6.4

Bulgaria 84.1 30.1 70.3 -16.5 69.3 -1.4 72.3 4.4 76.6 5.9 80.5 5.1 84.4 4.8

Czech Republic 289.0 10.8 267.0 -7.6 282.4 5.8 297.6 5.4 316.7 6.4 337.6 6.6 360.0 6.6

Hungary 270.2 23.2 206.9 -23.4 215.9 4.3 225.2 4.3 238.8 6.1 251.9 5.5 264.9 5.1

Poland 408.5 13.1 371.4 -9.1 395.1 6.4 421.7 6.7 457.3 8.4 492.5 7.7 528.8 7.4

Slovakia 86.7 7.8 73.3 -15.5 78.2 6.7 82.3 5.2 87.4 6.2 92.1 5.4 97.0 5.3

Romania 323.2 47.0 241.2 -25.4 250.4 3.8 262.6 4.9 280.9 7.0 299.4 6.6 318.5 6.4

Other Europe 2,122.4 10.7 1,891.2 -10.9 1,978.6 4.6 2,064.8 4.4 2,204.3 6.8 2,336.2 6.0 2,468.3 5.7

Belarus 12.9 27.7 8.8 -31.6 8.7 -1.3 8.9 2.7 9.6 7.4 10.2 6.8 10.9 6.5

Croatia 179.7 9.6 164.4 -8.5 154.8 -5.8 156.4 1.1 166.6 6.5 176.5 5.9 186.0 5.4

Russia 438.1 10.3 326.2 -25.5 349.3 7.1 368.6 5.5 398.7 8.2 427.9 7.3 457.3 6.9

Ukraine 56.6 -2.6 45.3 -20.1 45.3 0.1 47.0 3.8 50.3 6.9 53.4 6.3 56.6 5.9

Turkey 150.0 24.6 96.4 -35.7 105.7 9.7 113.5 7.3 121.7 7.2 129.5 6.5 137.5 6.2

Norway 162.0 10.0 159.4 -1.6 158.4 -0.6 162.6 2.6 172.2 5.9 181.3 5.3 190.3 5.0

Switzerland 1,123.1 10.1 1,090.7 -2.9 1,156.4 6.0 1,207.8 4.4 1,285.2 6.4 1,357.4 5.6 1,429.7 5.3

North America 2,714.5 0.5 2,479.8 -8.6 2,645.2 6.7 2,785.1 5.3 2,950.7 5.9 3,105.7 5.3 3,260.9 5.0

Canada 476.5 5.8 456.2 -4.3 486.2 6.6 514.2 5.8 541.3 5.3 565.8 4.5 589.7 4.2

United States 2,238.0 -0.6 2,023.6 -9.6 2,159.0 6.7 2,270.9 5.2 2,409.4 6.1 2,539.9 5.4 2,671.2 5.2

75

2008 2009 2010 2011 2012 2013 2014


World 26,754.6 8.9 24,785.8 -7.4 26,176.9 5.6 27,548.5 5.2 29,247.5 6.2 30,862.9 5.5 32,472.5 5.2

Latin America 185.8 23.7 164.8 -11.3 186.0 12.9 201.5 8.3 214.6 6.5 226.8 5.7 239.1 5.4

Argentina 16.7 3.4 15.2 -8.9 17.0 11.3 18.5 9.1 19.4 5.0 20.8 7.2 22.6 8.2

Brazil 91.5 35.3 84.3 -7.8 97.1 15.1 105.8 9.0 112.7 6.5 118.4 5.0 123.9 4.7

Chile 18.0 54.3 11.8 -34.0 14.3 20.3 16.1 13.1 17.2 6.7 18.5 7.7 19.8 7.1

Mexico 59.6 8.9 53.5 -10.3 57.6 7.7 61.1 6.0 65.3 6.9 69.1 5.8 72.8 5.4

Asia 1,189.9 9.1 1,214.9 2.1 1,267.1 4.3 1,330.3 5.0 1,414.7 6.3 1,497.0 5.8 1,579.7 5.5

Australia 272.4 3.7 262.3 -3.7 277.1 5.6 291.5 5.2 309.6 6.2 327.3 5.7 345.9 5.7

China 70.2 13.5 93.3 33.0 100.2 7.3 106.7 6.5 113.7 6.6 120.7 6.2 127.7 5.8

Hong Kong 93.2 33.1 91.4 -1.9 98.2 7.5 104.7 6.6 112.4 7.4 120.1 6.8 127.8 6.4

Indonesia 9.1 4.5 11.6 27.1 12.5 7.7 13.2 5.9 14.2 7.0 15.0 6.3 16.0 6.0

India 21.6 29.1 23.0 6.3 24.9 8.0 26.7 7.5 28.7 7.2 30.5 6.6 32.4 6.2

Japon 513.5 7.9 514.4 0.2 519.3 0.9 537.2 3.5 568.6 5.9 599.2 5.4 629.1 5.0

South Korea 76.2 -3.9 82.0 7.5 88.0 7.4 93.5 6.3 99.6 6.5 105.5 5.9 111.4 5.6

Malaysia 14.3 12.6 14.5 1.9 16.2 11.2 17.5 8.1 18.6 6.6 19.7 6.0 20.8 5.6

Philippines 19.4 105.9 18.1 -6.4 19.1 5.4 20.3 6.2 21.8 7.7 23.3 6.6 24.7 6.0

Singapore 32.3 5.2 33.1 2.4 35.3 6.7 37.7 6.9 40.6 7.4 43.3 6.7 45.9 6.0

Thailand 25.4 12.9 28.1 11.0 30.2 7.3 32.2 6.5 34.3 6.7 36.3 5.8 38.3 5.4

Taiwan 42.3 5.0 43.1 1.8 46.1 7.1 49.1 6.5 52.6 7.1 56.1 6.6 59.7 6.5

North Africa 310.0 57.4 248.4 -19.9 265.7 7.0 282.0 6.1 302.9 7.4 322.0 6.3 341.6 6.1

Algeria 35.4 24.1 38.4 8.6 40.4 5.2 43.0 6.5 46.2 7.4 49.0 6.0 52.0 6.1

Egypt 44.6 29.8 45.5 2.1 48.3 6.1 51.5 6.6 55.7 8.1 59.4 6.8 63.3 6.5

Libya 105.8 51.5 102.0 -3.6 109.4 7.3 115.7 5.7 124.0 7.2 131.5 6.0 139.0 5.7

Tunisia 124.2 92.8 62.5 -49.7 67.6 8.2 71.8 6.2 77.0 7.2 82.1 6.6 87.3 6.4

Sub-saharan Africa 150.6 -2.3 155.8 3.5 162.1 4.0 169.0 4.3 178.7 5.7 189.0 5.8 199.1 5.3

Angola 54.5 14.7 40.9 -24.9 37.9 -7.4 38.5 1.5 40.0 3.9 41.5 3.8 43.2 4.1

Nigeria 34.6 0.6 53.6 55.1 58.0 8.3 60.0 3.4 63.3 5.5 67.6 6.8 71.6 5.9

South Africa 61.5 -15.0 61.3 -0.4 66.2 8.1 70.5 6.5 75.4 6.9 79.9 5.9 84.3 5.5

Middle east 195.6 21.3 185.9 -5.0 190.1 2.3 200.2 5.3 215.6 7.7 229.8 6.6 243.6 6.0

Qatar 9.6 31.7 9.9 3.0 10.5 6.0 11.2 6.5 12.0 7.5 12.9 6.8 13.6 5.9

Saudi Arabia 96.3 20.6 85.4 -11.3 90.2 5.6 96.3 6.8 103.0 6.9 109.0 5.8 115.0 5.5

UAE 89.7 21.2 90.6 1.0 89.4 -1.4 92.7 3.7 100.6 8.5 107.9 7.3 115.0 6.6

76

Table 2.1.a Value of exports of food, beverages and tobacco by destination country (values in millions of euro and % changes)

2008 2009 2010 2011 2012 2013 2014


World 14,746.0 9.3 14,111.8 -4.3 14,716.7 4.3 15,435.4 4.9 16,397.5 6.2 17,309.5 5.6 18,219.3 5.3

EU 15 8,848.4 8.6 8,525.2 -3.7 8,828.6 3.6 9,205.7 4.3 9,737.2 5.8 10,228.7 5.0 10,717.9 4.8

Austria 412.8 9.8 391.5 -5.1 401.6 2.6 416.4 3.7 443.0 6.4 469.6 6.0 497.1 5.9

Belgium 440.5 3.5 460.3 4.5 477.3 3.7 497.9 4.3 525.8 5.6 547.6 4.1 567.7 3.7

Germany 2,688.6 8.2 2,627.7 -2.3 2,745.2 4.5 2,878.9 4.9 3,050.8 6.0 3,201.3 4.9 3,350.3 4.7

Denmark 219.9 7.4 215.5 -2.0 223.1 3.5 233.0 4.4 248.4 6.6 262.8 5.8 277.2 5.5

Spain 522.8 0.5 466.8 -10.7 478.3 2.5 489.1 2.3 515.5 5.4 539.0 4.6 561.4 4.2

Finland 59.4 8.0 59.2 -0.4 60.9 2.9 63.5 4.3 67.1 5.6 70.4 4.9 73.6 4.6

France 1,579.1 9.9 1,559.5 -1.2 1,624.5 4.2 1,711.6 5.4 1,828.3 6.8 1,941.4 6.2 2,056.9 6.0

United Kindom 1,700.6 11.0 1,577.1 -7.3 1,635.6 3.7 1,693.2 3.5 1,764.1 4.2 1,831.2 3.8 1,897.6 3.6

Greece 334.5 8.3 319.1 -4.6 311.7 -2.3 317.7 1.9 338.8 6.7 359.5 6.1 381.1 6.0

Ireland 79.5 6.8 67.9 -14.5 64.8 -4.6 67.0 3.3 71.3 6.5 75.8 6.3 80.4 6.0

Netherland 452.6 8.7 440.8 -2.6 460.4 4.4 478.3 3.9 505.0 5.6 528.2 4.6 548.9 3.9

Portugal 113.8 15.8 114.6 0.7 110.2 -3.9 114.1 3.6 120.8 5.9 129.0 6.8 138.3 7.2

Sweden 244.3 14.7 225.2 -7.8 235.0 4.3 245.0 4.3 258.3 5.4 272.9 5.7 287.4 5.3

Other EU 551.5 13.5 498.9 -9.5 517.9 3.8 544.9 5.2 584.6 7.3 624.7 6.9 666.3 6.7

Bulgaria 27.0 27.3 22.9 -15.2 22.2 -3.0 22.9 3.2 24.0 5.0 25.1 4.3 26.1 4.0

Czech Republic 127.0 9.9 117.0 -7.8 122.5 4.7 129.3 5.6 138.6 7.2 149.2 7.7 160.7 7.7

Hungary 116.2 10.5 94.4 -18.8 97.7 3.5 101.8 4.2 108.3 6.3 114.2 5.5 120.1 5.1

Poland 168.1 16.2 156.3 -7.0 164.5 5.2 175.5 6.7 191.3 9.0 207.1 8.3 223.4 7.9

Slovakia 26.3 -7.7 23.4 -10.8 24.7 5.6 26.0 5.1 27.7 6.5 29.2 5.4 30.7 5.3

Romania 86.9 22.6 84.9 -2.4 86.3 1.7 89.4 3.6 94.7 6.0 99.9 5.5 105.3 5.4

Other Europe 1,144.4 7.8 1,068.9 -6.6 1,106.4 3.5 1,155.7 4.5 1,242.6 7.5 1,326.5 6.8 1,411.7 6.4

Belarus 4.2 21.3 2.8 -33.7 2.7 -3.3 2.7 1.9 2.9 7.2 3.1 6.8 3.3 6.5

Croatia 92.5 10.0 86.8 -6.1 80.8 -6.9 81.9 1.3 87.8 7.2 93.7 6.7 99.5 6.2

Russia 247.0 2.6 191.1 -22.6 200.9 5.1 210.3 4.7 227.0 8.0 243.6 7.3 260.4 6.9

Ukraine 31.9 -9.4 24.6 -22.8 24.2 -1.7 24.9 3.0 26.6 6.6 28.2 6.3 29.9 5.9

Turkey 76.4 9.9 56.8 -25.7 61.8 8.9 66.3 7.3 71.5 7.7 76.1 6.5 80.8 6.2

Norway 91.9 16.4 100.0 8.8 98.2 -1.8 101.0 2.8 108.1 7.0 115.0 6.4 122.0 6.1

Switzerland 600.5 9.2 606.8 1.0 637.8 5.1 668.6 4.8 718.7 7.5 766.8 6.7 815.8 6.4

North America 1,786.9 -0.6 1,688.0 -5.5 1,771.0 4.9 1,852.9 4.6 1,961.8 5.9 2,066.1 5.3 2,170.7 5.1

Canada 336.9 4.4 326.9 -3.0 344.5 5.4 363.8 5.6 383.4 5.4 402.2 4.9 420.7 4.6

United States 1,450.0 -1.6 1,361.1 -6.1 1,426.5 4.8 1,489.1 4.4 1,578.4 6.0 1,663.9 5.4 1,750.0 5.2

77

2008 2009 2010 2011 2012 2013 2014


World 14,746.0 9.3 14,111.8 -4.3 14,716.7 4.3 15,435.4 4.9 16,397.5 6.2 17,309.5 5.6 18,219.3 5.3

Latin America 130.5 27.3 114.7 -12.1 126.2 10.0 135.0 7.0 142.4 5.5 149.0 4.6 155.5 4.4

Argentina 9.1 1.9 6.9 -24.1 7.5 9.0 8.1 8.0 8.4 4.4 9.1 7.2 9.8 8.2

Brazil 62.8 38.4 54.5 -13.1 61.4 12.6 66.0 7.4 69.5 5.3 72.1 3.8 74.6 3.4

Chile 11.5 64.3 8.5 -25.6 10.1 18.8 11.5 12.9 12.3 7.1 13.2 7.8 14.2 7.1

Mexico 47.1 14.1 44.8 -5.0 47.2 5.4 49.4 4.5 52.2 5.7 54.6 4.6 56.9 4.2

Asia 766.5 13.4 797.8 4.1 814.4 2.1 844.2 3.7 889.9 5.4 933.3 4.9 975.9 4.6

Australia 189.1 11.7 181.8 -3.9 188.3 3.6 196.0 4.1 206.9 5.6 217.5 5.1 228.5 5.1

China 45.8 11.2 63.9 39.5 67.0 4.9 70.1 4.7 73.7 5.1 77.1 4.6 80.3 4.2

Hong Kong 51.4 13.9 49.5 -3.6 52.6 6.3 55.9 6.3 60.1 7.4 64.2 6.8 68.3 6.4

Indonesia 5.0 -3.7 7.5 50.9 8.0 5.8 8.4 5.1 8.9 6.8 9.5 6.3 10.1 6.0

India 8.1 15.9 9.4 15.9 10.1 7.2 10.9 8.3 11.9 8.8 12.8 8.1 13.8 7.8

Japon 331.3 17.2 345.8 4.4 341.1 -1.4 347.6 1.9 363.5 4.6 378.5 4.1 392.6 3.7

South Korea 47.4 0.3 46.6 -1.7 48.9 5.1 51.2 4.6 53.6 4.8 55.9 4.2 58.0 3.8

Malaysia 9.8 7.1 9.8 1.0 10.9 10.2 11.7 8.2 12.6 6.9 13.3 6.0 14.1 5.6

Philippines 15.5 132.4 14.6 -6.1 15.0 3.4 15.8 5.3 17.0 7.5 18.1 6.6 19.2 6.0

Singapore 24.2 4.4 25.3 4.6 26.4 4.3 27.8 5.5 29.6 6.4 31.3 5.6 32.8 5.0

Thailand 18.4 10.3 22.1 20.2 23.3 5.2 24.5 5.3 26.0 6.0 27.3 5.2 28.6 4.8

Taiwan 20.5 -8.0 21.5 5.1 22.8 6.0 24.3 6.3 26.1 7.5 27.8 6.6 29.6 6.5

North Africa 138.2 46.9 125.2 -9.4 132.3 5.7 139.7 5.6 150.3 7.6 159.6 6.2 169.2 6.0

Algeria 21.3 39.7 18.0 -15.7 18.6 3.3 19.6 5.6 21.0 7.2 22.3 6.0 23.6 6.1

Egypt 29.5 34.5 22.8 -22.6 24.0 5.1 25.5 6.5 27.7 8.3 29.5 6.8 31.5 6.5

Libya 79.5 58.2 73.7 -7.2 78.2 6.1 82.4 5.4 88.5 7.3 93.8 6.0 99.2 5.7

Tunisia 7.9 16.8 10.7 35.3 11.5 6.9 12.2 6.0 13.1 7.5 14.0 6.6 14.9 6.4

Sub-saharan Africa 124.3 5.0 131.1 5.5 134.0 2.2 138.7 3.5 146.4 5.6 154.5 5.5 162.7 5.3

Angola 49.5 30.3 37.8 -23.7 34.6 -8.4 35.0 1.2 36.4 4.1 37.8 3.8 39.4 4.1

Nigeria 31.3 5.9 49.4 57.6 52.9 7.2 54.6 3.1 57.7 5.7 61.6 6.8 65.3 5.9

South Africa 43.5 -14.3 43.9 0.8 46.5 6.1 49.1 5.5 52.3 6.5 55.1 5.4 58.0 5.1

Middle east 139.3 20.0 131.4 -5.7 132.5 0.8 138.8 4.8 149.4 7.6 159.2 6.6 168.8 6.0

Qatar 8.9 30.9 8.7 -3.0 9.0 4.0 9.5 5.6 10.2 7.2 10.9 6.8 11.5 5.9

Saudi Arabia 64.2 11.5 62.5 -2.7 65.4 4.7 69.7 6.6 74.7 7.1 79.1 5.8 83.5 5.5

UAE 66.2 28.0 60.2 -9.1 58.1 -3.5 59.6 2.7 64.5 8.2 69.2 7.3 73.8 6.6

78

Table 2.1.b Value of exports of other agricultural goods by destination country (values in millions of euro and % changes)

2008 2009 2010 2011 2012 2013 2014


World 12,008.6 8.4 10,674.0 -11.1 11,460.2 7.4 12,113.1 5.7 12,850.0 6.1 13,553.4 5.5 14,253.2 5.2

EU 15 7,722.6 5.2 6,997.3 -9.4 7,442.8 6.4 7,809.2 4.9 8,243.0 5.6 8,653.5 5.0 9,059.7 4.7

Austria 537.7 9.3 485.0 -9.8 514.6 6.1 539.9 4.9 575.7 6.6 612.2 6.3 648.1 5.9

Belgium 357.5 8.8 320.8 -10.3 342.6 6.8 359.8 5.0 378.6 5.2 393.8 4.0 407.8 3.5

Germany 2,579.8 3.2 2,283.7 -11.5 2,435.6 6.7 2,563.5 5.3 2,705.4 5.5 2,838.9 4.9 2,971.0 4.7

Denmark 198.8 12.2 161.7 -18.6 171.4 6.0 179.2 4.6 189.5 5.8 199.9 5.5 210.9 5.5

Spain 620.6 -1.9 558.2 -10.1 585.4 4.9 602.1 2.9 633.2 5.2 662.2 4.6 689.7 4.2

Finland 42.1 14.0 41.6 -1.0 43.9 5.5 45.8 4.3 47.8 4.3 49.6 3.7 51.2 3.3

France 1,528.5 8.7 1,466.2 -4.1 1,561.6 6.5 1,643.9 5.3 1,736.8 5.6 1,824.0 5.0 1,911.5 4.8

United Kindom 775.7 -3.5 693.2 -10.6 762.3 10.0 811.9 6.5 856.6 5.5 900.3 5.1 944.6 4.9

Greece 387.8 12.1 363.4 -6.3 361.4 -0.6 367.8 1.8 388.0 5.5 407.2 5.0 426.9 4.8

Ireland 48.6 -2.2 38.0 -21.8 38.3 0.7 40.5 5.6 43.3 7.0 46.0 6.3 48.8 6.0

Netherland 422.8 13.6 387.3 -8.4 413.6 6.8 428.8 3.7 447.1 4.3 461.7 3.3 473.9 2.6

Portugal 63.8 18.2 62.5 -2.0 63.2 1.1 66.7 5.5 70.9 6.3 75.7 6.8 81.2 7.2

Sweden 158.9 12.2 135.7 -14.6 148.9 9.7 159.3 7.0 170.1 6.8 182.0 7.0 194.1 6.6

Other EU 910.4 26.4 731.1 -19.7 773.5 5.8 816.8 5.6 873.2 6.9 929.5 6.4 987.5 6.2

Bulgaria 57.2 31.5 47.4 -17.1 47.1 -0.6 49.5 4.9 52.6 6.3 55.5 5.5 58.4 5.2

Czech Republic 162.0 11.4 149.9 -7.5 159.9 6.7 168.3 5.2 178.1 5.9 188.4 5.8 199.3 5.8

Hungary 154.0 35.0 112.5 -26.9 118.2 5.0 123.4 4.4 130.5 5.8 137.7 5.5 144.8 5.1

Poland 240.4 11.0 215.1 -10.5 230.7 7.2 246.1 6.7 266.0 8.1 285.5 7.3 305.4 7.0

Slovakia 60.5 16.3 49.9 -17.6 53.5 7.2 56.3 5.3 59.7 6.1 62.9 5.4 66.3 5.3

Romania 236.3 58.5 156.3 -33.8 164.1 5.0 173.2 5.5 186.3 7.5 199.5 7.1 213.3 6.9

Other Europe 978.0 14.3 822.2 -15.9 872.2 6.1 909.3 4.3 961.7 5.8 1,009.5 5.0 1,056.7 4.7

Belarus 8.7 31.0 6.0 -30.6 6.0 -0.4 6.2 3.1 6.7 7.5 7.1 6.8 7.6 6.5

Croatia 87.2 9.2 77.6 -11.1 74.0 -4.6 74.6 0.8 78.8 5.6 82.8 5.1 86.6 4.6

Russia 191.1 22.0 135.1 -29.3 148.4 9.8 158.3 6.7 171.7 8.4 184.2 7.3 196.9 6.9

Ukraine 24.7 7.9 20.6 -16.6 21.1 2.3 22.1 4.7 23.7 7.2 25.2 6.3 26.7 5.9

Turkey 73.6 44.6 39.6 -46.2 43.9 10.9 47.2 7.4 50.2 6.4 53.4 6.5 56.7 6.2

Norway 70.1 2.7 59.4 -15.3 60.2 1.4 61.6 2.3 64.1 4.1 66.2 3.4 68.3 3.1

Switzerland 522.6 11.2 483.9 -7.4 518.6 7.2 539.3 4.0 566.5 5.0 590.6 4.3 613.9 3.9

North America 927.5 2.5 791.8 -14.6 874.3 10.4 932.1 6.6 988.9 6.1 1,039.6 5.1 1,090.3 4.9

Canada 139.6 9.4 129.3 -7.4 141.7 9.6 150.4 6.1 157.9 5.0 163.6 3.6 169.0 3.3

United States 787.9 1.4 662.5 -15.9 732.6 10.6 781.7 6.7 831.0 6.3 876.0 5.4 921.3 5.2

79

2008 2009 2010 2011 2012 2013 2014


World 12,008.6 8.4 10,674.0 -11.1 11,460.2 7.4 12,113.1 5.7 12,850.0 6.1 13,553.4 5.5 14,253.2 5.2

Latin America 55.4 15.9 50.2 -9.4 59.7 18.9 66.7 11.7 72.3 8.4 77.9 7.7 83.8 7.6

Argentina 7.7 5.1 8.4 9.1 9.5 13.1 10.4 10.0 11.0 5.4 11.8 7.2 12.8 8.2

Brazil 28.7 28.9 29.8 3.7 35.7 19.7 39.9 11.8 43.3 8.6 46.3 7.0 49.3 6.6

Chile 6.5 39.1 3.3 -49.0 4.1 24.2 4.7 13.5 4.9 5.8 5.3 7.3 5.7 7.1

Mexico 12.5 -7.1 8.7 -30.3 10.4 19.0 11.7 12.9 13.1 12.0 14.5 10.7 16.0 10.0

Asia 423.2 1.9 417.2 -1.4 452.7 8.5 486.1 7.4 524.9 8.0 563.7 7.4 603.7 7.1

Australia 83.2 -10.7 80.6 -3.2 88.8 10.2 95.5 7.6 102.7 7.4 109.8 7.0 117.4 6.9

China 24.4 18.0 29.4 20.8 33.2 12.7 36.6 10.2 40.0 9.4 43.6 9.1 47.4 8.6

Hong Kong 41.8 67.8 41.9 0.2 45.6 8.9 48.8 6.9 52.4 7.4 55.9 6.8 59.5 6.4

Indonesia 4.1 16.5 4.1 -1.6 4.5 11.3 4.9 7.2 5.2 7.2 5.6 6.3 5.9 6.0

India 13.5 38.6 13.6 0.7 14.8 8.5 15.8 7.0 16.8 6.1 17.7 5.5 18.6 5.1

Japon 182.2 -5.7 168.6 -7.5 178.2 5.7 189.6 6.4 205.1 8.2 220.7 7.6 236.5 7.2

South Korea 28.8 -10.0 35.4 22.7 39.1 10.5 42.4 8.4 46.0 8.5 49.6 7.9 53.4 7.5

Malaysia 4.5 26.5 4.7 4.0 5.3 13.2 5.7 8.0 6.1 5.8 6.4 6.0 6.8 5.6

Philippines 3.9 41.4 3.6 -7.7 4.1 13.6 4.4 9.5 4.8 8.4 5.1 6.6 5.4 6.0

Singapore 8.1 7.4 7.8 -4.2 8.9 14.5 9.9 11.3 11.0 10.5 12.0 9.6 13.1 8.8

Thailand 6.9 20.5 6.0 -13.5 6.9 15.3 7.6 10.5 8.3 8.8 9.0 7.9 9.6 7.4

Taiwan 21.8 20.9 21.5 -1.4 23.3 8.2 24.9 6.7 26.5 6.8 28.3 6.6 30.1 6.5

North Africa 171.7 66.9 123.2 -28.2 133.5 8.4 142.2 6.5 152.6 7.3 162.5 6.5 172.4 6.1

Algeria 14.1 6.2 20.5 45.4 21.9 6.9 23.4 7.2 25.2 7.6 26.8 6.0 28.4 6.1

Egypt 15.1 21.5 22.7 50.6 24.3 7.2 26.0 6.7 28.0 7.8 29.9 6.8 31.8 6.5

Libya 26.3 34.3 28.3 7.4 31.2 10.4 33.2 6.5 35.5 6.9 37.7 6.0 39.8 5.7

Tunisia 116.2 101.8 51.7 -55.5 56.1 8.4 59.6 6.2 63.9 7.2 68.1 6.6 72.4 6.4

Sub-saharan Africa 26.2 -26.8 24.8 -5.3 28.2 13.7 30.3 7.4 32.3 6.6 34.4 6.5 36.5 6.1

Angola 5.0 -47.6 3.2 -36.0 3.4 4.8 3.5 3.6 3.6 2.6 3.7 3.8 3.9 4.1

Nigeria 3.2 -32.3 4.2 30.9 5.1 20.9 5.4 6.1 5.6 3.3 6.0 6.8 6.3 5.9

South Africa 18.0 -16.4 17.4 -3.2 19.7 13.2 21.4 8.8 23.1 7.9 24.7 6.9 26.3 6.5

Middle east 56.3 24.8 54.6 -3.0 57.6 5.5 61.3 6.4 66.1 7.8 70.6 6.8 74.8 5.9

Qatar 0.7 42.9 1.2 80.4 1.5 20.4 1.7 11.7 1.8 9.3 2.0 6.8 2.1 5.9

Saudi Arabia 32.1 44.0 22.9 -28.6 24.8 8.1 26.6 7.3 28.2 6.3 29.9 5.8 31.5 5.5

UAE 23.5 5.6 30.5 29.7 31.3 2.8 33.0 5.5 36.1 9.1 38.7 7.3 41.2 6.6

80

Table 2.2 Value of exports of consumer goods by destination country (values in millions of euro and % changes)

2008 2009 2010 2011 2012 2013 2014


World 83,908.4 -3.1 68,727.8 -18.1 72,028.9 4.8 75,388.3 4.7 79,250.8 5.1 83,483.9 5.3 87,599.4 4.9

EU 15 38,872.2 -6.5 32,199.3 -17.2 33,225.9 3.2 34,281.1 3.2 35,820.1 4.5 37,509.3 4.7 39,114.5 4.3

Austria 1,763.5 -3.5 1,467.7 -16.8 1,507.1 2.7 1,554.1 3.1 1,612.8 3.8 1,673.2 3.7 1,729.1 3.3

Belgium 1,906.3 -8.1 1,682.6 -11.7 1,748.4 3.9 1,808.8 3.5 1,866.2 3.2 1,924.1 3.1 1,976.6 2.7

Germany 8,315.1 -7.6 7,096.0 -14.7 7,441.0 4.9 7,781.4 4.6 8,153.1 4.8 8,542.9 4.8 8,898.1 4.2

Denmark 603.6 -10.9 433.9 -28.1 450.8 3.9 466.7 3.5 489.2 4.8 513.2 4.9 535.3 4.3

Spain 4,645.1 -12.3 3,467.2 -25.4 3,472.9 0.2 3,522.5 1.4 3,677.1 4.4 3,863.3 5.1 4,060.4 5.1

Finland 273.3 -3.9 221.9 -18.8 226.9 2.3 233.0 2.7 243.1 4.3 254.1 4.5 264.6 4.1

France 10,448.7 -1.2 9,176.0 -12.2 9,526.0 3.8 9,864.8 3.6 10,370.9 5.1 10,924.8 5.3 11,463.5 4.9

United Kindom 4,844.3 -13.5 3,864.3 -20.2 4,075.4 5.5 4,181.4 2.6 4,352.4 4.1 4,538.6 4.3 4,712.2 3.8

Greece 2,222.4 0.5 1,675.2 -24.6 1,615.7 -3.6 1,620.5 0.3 1,665.6 2.8 1,740.8 4.5 1,804.0 3.6

Ireland 313.1 -18.5 187.9 -40.0 176.1 -6.3 178.4 1.3 185.2 3.8 192.2 3.8 198.8 3.4

Netherland 1,918.7 -0.2 1,571.2 -18.1 1,621.3 3.2 1,674.9 3.3 1,748.5 4.4 1,826.5 4.5 1,899.7 4.0

Portugal 1,018.9 -5.2 882.7 -13.4 858.7 -2.7 871.9 1.5 911.7 4.6 948.6 4.0 982.8 3.6

Sweden 599.2 -6.4 472.7 -21.1 505.6 7.0 522.7 3.4 544.3 4.1 567.0 4.2 589.4 4.0

Other EU 5,950.9 -2.7 4,597.3 -22.7 4,685.4 1.9 4,829.5 3.1 5,078.5 5.2 5,345.0 5.2 5,621.5 5.2

Bulgaria 589.7 0.2 470.8 -20.2 464.4 -1.4 484.2 4.3 504.5 4.2 510.8 1.2 515.0 0.8

Czech Republic 735.9 -1.4 557.0 -24.3 582.3 4.5 601.5 3.3 628.5 4.5 657.6 4.6 685.4 4.2

Hungary 685.1 -14.7 511.1 -25.4 515.9 0.9 526.5 2.1 546.9 3.9 569.1 4.1 589.5 3.6

Poland 1,523.7 3.4 1,212.0 -20.5 1,257.4 3.7 1,316.7 4.7 1,390.6 5.6 1,472.3 5.9 1,552.4 5.4

Slovakia 376.2 4.8 318.9 -15.2 328.3 2.9 340.0 3.6 357.4 5.1 376.5 5.3 395.0 4.9

Romania 2,040.3 -4.9 1,527.5 -25.1 1,537.1 0.6 1,560.6 1.5 1,650.6 5.8 1,758.7 6.5 1,884.2 7.1

Other Europe 12,885.4 7.2 10,599.0 -17.7 11,051.5 4.3 11,508.6 4.1 12,120.3 5.3 12,795.6 5.6 13,451.7 5.1

Belarus 100.9 12.0 73.5 -27.2 72.0 -2.0 74.7 3.8 78.9 5.6 83.4 5.7 87.8 5.3

Croatia 741.2 -7.8 599.3 -19.1 562.0 -6.2 571.9 1.8 603.0 5.4 636.4 5.5 668.7 5.1

Russia 4,174.0 11.8 2,697.6 -35.4 2,906.9 7.8 3,093.3 6.4 3,259.1 5.4 3,442.3 5.6 3,618.6 5.1

Ukraine 915.0 12.2 540.7 -40.9 502.1 -7.1 514.3 2.4 548.8 6.7 587.2 7.0 626.3 6.7

Turkey 1,276.9 -7.7 943.9 -26.1 1,064.7 12.8 1,150.0 8.0 1,226.9 6.7 1,311.2 6.9 1,395.7 6.4

Norway 317.5 -2.1 249.9 -21.3 250.0 0.0 254.7 1.9 267.6 5.1 282.3 5.5 296.6 5.1

Switzerland 5,359.9 10.1 5,494.1 2.5 5,693.8 3.6 5,849.7 2.7 6,136.0 4.9 6,452.8 5.2 6,758.0 4.7

North America 6,236.2 -17.0 4,319.6 -30.7 4,487.1 3.9 4,644.8 3.5 4,855.1 4.5 5,109.1 5.2 5,354.1 4.8

Canada 667.9 -5.6 511.9 -23.4 533.9 4.3 550.1 3.0 572.5 4.1 597.2 4.3 620.5 3.9

United States 5,568.3 -18.2 3,807.7 -31.6 3,953.2 3.8 4,094.7 3.6 4,282.6 4.6 4,511.9 5.4 4,733.6 4.9

81

2008 2009 2010 2011 2012 2013 2014


World 83,908.4 -3.1 68,727.8 -18.1 72,028.9 4.8 75,388.3 4.7 79,250.8 5.1 83,483.9 5.3 87,599.4 4.9

Latin America 793.9 1.2 595.2 -25.0 647.9 8.9 687.5 6.1 726.4 5.7 768.2 5.8 808.5 5.2

Argentina 87.4 11.3 67.3 -23.0 73.9 9.8 79.1 7.0 82.8 4.7 86.6 4.6 90.3 4.3

Brazil 221.1 1.9 175.9 -20.4 194.0 10.3 208.5 7.5 222.9 6.9 237.7 6.6 252.1 6.1

Chile 68.2 12.9 51.0 -25.2 55.3 8.4 57.4 3.8 60.7 5.7 64.6 6.4 68.2 5.6

Mexico 417.2 -2.6 301.0 -27.9 324.7 7.9 342.5 5.5 360.0 5.1 379.3 5.4 397.9 4.9

Asia 7,243.5 -4.0 6,185.6 -14.6 6,653.2 7.6 7,000.4 5.2 7,456.6 6.5 7,951.5 6.6 8,438.5 6.1

Australia 545.3 3.8 412.9 -24.3 431.1 4.4 449.1 4.2 467.9 4.2 488.6 4.4 508.2 4.0

China 1,122.3 4.5 1,109.2 -1.2 1,196.3 7.9 1,295.3 8.3 1,432.5 10.6 1,592.8 11.2 1,759.0 10.4

Hong Kong 2,109.2 -2.8 1,748.3 -17.1 1,999.5 14.4 2,123.2 6.2 2,244.6 5.7 2,361.0 5.2 2,467.7 4.5

Indonesia 102.6 17.7 97.1 -5.4 103.1 6.2 109.8 6.5 117.3 6.8 126.2 7.6 135.8 7.6

India 330.2 9.8 275.5 -16.6 295.3 7.2 315.5 6.8 338.1 7.2 363.3 7.5 388.8 7.0

Japon 1,626.1 -12.6 1,369.0 -15.8 1,387.7 1.4 1,404.0 1.2 1,471.1 4.8 1,540.7 4.7 1,607.4 4.3

South Korea 714.9 -9.2 574.2 -19.7 598.8 4.3 627.4 4.8 668.6 6.6 719.7 7.6 771.1 7.1

Malaysia 73.5 -6.1 55.9 -23.9 59.7 6.8 63.4 6.2 67.3 6.2 71.4 6.1 75.1 5.2

Philippines 52.1 -20.5 43.8 -15.9 47.0 7.3 49.3 4.9 52.4 6.3 55.7 6.3 59.0 5.9

Singapore 201.6 1.4 188.2 -6.6 198.1 5.3 208.8 5.4 219.8 5.3 231.3 5.2 242.4 4.8

Thailand 148.4 -8.5 134.1 -9.6 139.6 4.1 146.6 5.0 156.3 6.6 166.8 6.7 177.1 6.2

Taiwan 217.3 -7.1 177.4 -18.4 197.0 11.0 208.0 5.6 220.7 6.1 234.0 6.0 246.9 5.5

North Africa 1,620.7 6.4 1,543.7 -4.8 1,637.3 6.1 1,717.2 4.9 1,813.3 5.6 1,918.7 5.8 2,022.4 5.4

Algeria 149.5 1.6 127.5 -14.7 130.3 2.2 134.0 2.8 140.9 5.1 148.4 5.3 155.8 5.0

Egypt 236.6 22.2 205.7 -13.1 218.2 6.1 230.2 5.5 244.6 6.3 260.4 6.5 276.1 6.0

Libya 210.0 35.0 258.5 23.1 279.1 8.0 291.0 4.3 305.9 5.1 322.2 5.3 338.1 4.9

Tunisia 1,024.6 -0.2 952.0 -7.1 1,009.7 6.1 1,062.0 5.2 1,121.9 5.6 1,187.7 5.9 1,252.4 5.4


Angola 19.7 6.5 24.1 22.3 20.9 -13.3 21.5 2.9 23.1 7.4 24.7 6.9 26.3 6.5

Nigeria 89.1 1.3 91.2 2.4 98.1 7.6 103.7 5.7 110.3 6.4 116.9 6.0 123.3 5.5

South Africa 174.9 -10.4 134.4 -23.2 138.8 3.3 144.1 3.8 150.9 4.7 158.4 5.0 165.6 4.5

Middle east 2,260.0 26.4 1,807.4 -20.0 1,772.1 -2.0 1,827.4 3.1 1,941.9 6.3 2,065.7 6.4 2,184.5 5.8

Qatar 149.8 63.9 147.7 -1.4 144.9 -1.9 148.5 2.5 158.4 6.7 169.2 6.8 180.1 6.4

Saudi Arabia 488.0 13.4 451.1 -7.6 450.6 -0.1 468.5 4.0 496.2 5.9 526.8 6.2 557.3 5.8

UAE 1,622.2 28.1 1,208.6 -25.5 1,176.6 -2.6 1,210.4 2.9 1,287.3 6.4 1,369.7 6.4 1,447.1 5.7

82

Table 2.2.a Value of exports of wood products by destination country (values in millions of euro and % changes)

2008 2009 2010 2011 2012 2013 2014


World 20,464.0 -1.7 16,486.1 -19.4 17,331.7 5.1 18,244.8 5.3 19,261.9 5.6 20,339.9 5.6 21,389.3 5.2

EU 15 11,544.2 -6.9 9,449.4 -18.1 9,828.0 4.0 10,215.7 3.9 10,730.4 5.0 11,277.0 5.1 11,799.6 4.6

Austria 544.4 -8.5 418.0 -23.2 433.8 3.8 453.1 4.5 478.2 5.5 504.6 5.5 529.2 4.9

Belgium 521.9 -6.9 462.2 -11.4 481.1 4.1 497.7 3.5 513.1 3.1 528.5 3.0 542.4 2.6

Germany 2,452.3 -5.8 2,130.1 -13.1 2,269.0 6.5 2,417.3 6.5 2,570.7 6.3 2,732.2 6.3 2,886.0 5.6

Denmark 149.5 -11.4 114.4 -23.5 120.5 5.3 126.5 4.9 134.1 6.1 142.0 5.9 149.5 5.3

Spain 1,168.4 -14.5 879.1 -24.8 877.8 -0.2 889.6 1.3 926.8 4.2 969.0 4.6 1,013.5 4.6

Finland 71.3 -1.4 52.6 -26.2 53.7 2.1 56.1 4.3 59.3 5.8 62.7 5.8 66.1 5.3

France 3,417.5 0.8 3,001.3 -12.2 3,138.3 4.6 3,262.9 4.0 3,437.2 5.3 3,620.7 5.3 3,799.3 4.9

United Kindom 1,641.0 -15.9 1,168.2 -28.8 1,221.7 4.6 1,242.5 1.7 1,280.4 3.0 1,317.8 2.9 1,350.1 2.5

Greece 664.7 -4.7 507.6 -23.6 494.1 -2.7 498.7 0.9 514.1 3.1 537.3 4.5 556.8 3.6

Ireland 115.8 -21.9 59.3 -48.8 55.1 -7.1 55.8 1.2 57.9 3.8 60.1 3.8 62.2 3.4

Netherland 449.9 -4.0 373.5 -17.0 391.5 4.8 409.5 4.6 431.8 5.4 454.9 5.3 477.1 4.9

Portugal 171.0 -7.7 152.5 -10.8 150.5 -1.3 155.7 3.5 165.6 6.3 174.8 5.6 183.7 5.1

Sweden 176.5 -5.8 130.6 -26.0 140.9 7.9 150.3 6.7 161.2 7.3 172.4 6.9 183.7 6.6

Other EU 1,087.3 5.0 823.1 -24.3 852.1 3.5 887.4 4.1 938.4 5.7 989.8 5.5 1,042.5 5.3

Bulgaria 91.9 5.3 60.0 -34.7 58.4 -2.7 60.9 4.3 63.5 4.2 64.0 0.9 64.4 0.5

Czech Republic 173.4 0.5 131.7 -24.1 139.8 6.2 146.5 4.7 154.9 5.7 163.7 5.7 172.3 5.3

Hungary 167.6 -0.6 132.3 -21.1 136.5 3.2 140.2 2.7 146.2 4.3 152.1 4.1 157.6 3.6

Poland 296.2 5.2 238.5 -19.5 251.5 5.5 265.8 5.7 282.1 6.1 298.7 5.9 315.0 5.4

Slovakia 72.1 7.4 57.5 -20.3 59.7 4.0 62.7 5.0 67.1 7.0 72.0 7.3 76.9 6.8

Romania 286.1 10.8 203.1 -29.0 206.2 1.5 211.3 2.4 224.6 6.3 239.3 6.6 256.3 7.1

Other Europe 2,909.0 8.1 2,200.1 -24.4 2,303.9 4.7 2,420.4 5.1 2,559.5 5.7 2,705.8 5.7 2,847.7 5.2

Belarus 41.0 13.0 28.6 -30.2 28.0 -2.2 29.0 3.5 30.6 5.6 32.4 5.8 34.1 5.2

Croatia 204.0 -0.1 152.4 -25.3 141.3 -7.2 143.3 1.4 151.1 5.4 159.5 5.5 167.6 5.1

Russia 1,244.4 16.2 814.6 -34.5 890.4 9.3 955.5 7.3 1,011.1 5.8 1,068.0 5.6 1,122.7 5.1

Ukraine 268.3 15.8 176.4 -34.3 166.2 -5.7 172.9 4.0 185.9 7.6 199.5 7.3 212.8 6.7

Turkey 226.5 -6.0 200.4 -11.5 229.7 14.6 250.7 9.1 269.1 7.3 287.6 6.9 306.1 6.4

Norway 80.0 -6.2 60.3 -24.6 59.6 -1.3 60.5 1.5 63.6 5.1 67.0 5.5 70.4 5.1

Switzerland 844.8 3.0 767.4 -9.2 788.7 2.8 808.5 2.5 848.1 4.9 891.8 5.2 934.0 4.7

North America 1,117.8 -16.3 779.1 -30.3 819.1 5.1 861.0 5.1 911.8 5.9 969.4 6.3 1,026.2 5.9

Canada 122.8 -9.0 103.0 -16.2 109.1 6.0 113.7 4.2 119.2 4.8 124.4 4.3 129.2 3.9

United States 995.0 -17.1 676.1 -32.0 710.0 5.0 747.3 5.3 792.6 6.1 845.0 6.6 897.0 6.2

83

2008 2009 2010 2011 2012 2013 2014


World 20,464.0 -1.7 16,486.1 -19.4 17,331.7 5.1 18,244.8 5.3 19,261.9 5.6 20,339.9 5.6 21,389.3 5.2

Latin America 214.1 12.2 146.2 -31.7 160.6 9.8 171.4 6.7 182.2 6.3 193.5 6.2 204.7 5.8

Argentina 27.9 12.7 16.8 -39.8 18.4 9.2 20.3 10.5 21.9 7.7 23.5 7.6 25.2 7.3

Brazil 56.6 18.9 49.2 -13.2 55.0 11.9 59.3 7.9 63.6 7.1 67.8 6.6 71.9 6.0

Chile 26.2 13.6 18.9 -27.8 21.3 12.2 22.3 4.8 23.7 6.4 25.3 6.8 26.9 6.2

Mexico 103.4 8.5 61.3 -40.7 65.9 7.6 69.5 5.4 73.0 5.1 76.9 5.3 80.7 4.9

Asia 1,009.9 6.0 860.9 -14.8 921.0 7.0 983.2 6.8 1,062.3 8.0 1,148.6 8.1 1,237.4 7.7

Australia 189.1 12.3 132.9 -29.7 136.9 3.0 141.8 3.6 148.1 4.4 154.6 4.4 160.8 4.0

China 205.5 27.4 206.1 0.3 224.8 9.1 248.6 10.6 280.4 12.8 316.9 13.0 355.7 12.2

Hong Kong 84.4 5.3 73.8 -12.6 85.1 15.3 90.9 6.9 96.3 5.9 101.3 5.2 105.9 4.5

Indonesia 38.9 82.3 42.3 8.8 45.9 8.6 49.5 7.7 53.4 7.8 57.8 8.4 62.7 8.4

India 102.8 26.6 93.6 -8.9 102.2 9.2 110.8 8.3 120.0 8.4 130.2 8.5 140.7 8.1

Japon 125.0 -27.8 100.5 -19.5 100.9 0.4 101.9 1.0 106.8 4.8 111.8 4.7 116.7 4.3

South Korea 108.5 -7.0 81.9 -24.5 84.3 2.9 88.9 5.5 95.7 7.6 103.7 8.4 111.9 7.9

Malaysia 28.5 -0.2 17.5 -38.6 18.9 8.1 20.2 7.2 21.6 6.6 22.9 6.1 24.1 5.3

Philippines 8.1 8.6 7.9 -2.7 8.7 9.1 9.1 5.5 9.7 5.9 10.2 5.8 10.8 5.4

Singapore 51.7 -1.5 50.9 -1.7 54.4 7.0 58.6 7.6 62.8 7.1 67.1 7.0 71.5 6.5

Thailand 23.3 24.0 20.2 -13.5 21.5 6.4 22.8 6.5 24.5 7.1 26.1 6.7 27.7 6.2

Taiwan 44.1 1.1 33.3 -24.5 37.4 12.4 40.1 7.1 43.0 7.3 46.0 6.9 48.9 6.4

North Africa 322.0 16.9 320.3 -0.5 338.9 5.8 356.0 5.0 376.7 5.8 398.2 5.7 419.3 5.3

Algeria 79.8 14.5 75.6 -5.4 78.1 3.4 80.9 3.6 85.3 5.4 89.8 5.3 94.3 4.9

Egypt 75.4 28.9 61.6 -18.3 64.8 5.3 69.5 7.1 74.4 7.1 79.2 6.5 84.0 6.0

Libya 93.4 14.9 103.3 10.6 110.6 7.1 115.0 4.0 120.9 5.1 127.4 5.3 133.7 4.9

Tunisia 73.4 11.0 79.8 8.7 85.4 7.0 90.6 6.1 96.1 6.1 101.8 5.9 107.3 5.4


Angola 11.1 -11.0 15.5 39.7 13.7 -11.7 14.1 2.7 15.1 7.4 16.2 6.9 17.2 6.5

Nigeria 26.6 -9.9 32.5 22.2 35.5 9.4 37.8 6.5 40.3 6.5 42.7 6.0 45.1 5.6

South Africa 48.4 2.0 36.1 -25.5 36.9 2.4 38.3 3.6 40.1 4.7 42.1 5.0 44.0 4.5

Middle east 499.3 32.6 425.1 -14.9 423.2 -0.4 440.9 4.2 470.6 6.7 502.2 6.7 531.4 5.8

Qatar 62.1 124.8 51.9 -16.5 50.1 -3.4 51.0 1.7 54.1 6.2 57.9 6.9 61.6 6.4

Saudi Arabia 137.7 4.0 163.8 18.9 167.3 2.1 176.7 5.7 189.1 7.0 201.7 6.7 213.4 5.8

UAE 299.5 38.4 209.4 -30.1 205.8 -1.7 213.2 3.6 227.4 6.6 242.6 6.7 256.4 5.7

84

Table 2.2.b Value of exports of textiles and clothing by destination country (values in millions of euro and % changes)

2008 2009 2010 2011 2012 2013 2014


World 35,706.6 -3.5 28,867.3 -19.2 29,811.6 3.3 30,997.0 4.0 32,418.8 4.6 33,987.9 4.8 35,498.1 4.4

EU 15 16,804.5 -5.8 14,031.0 -16.5 14,194.6 1.2 14,500.5 2.2 14,996.2 3.4 15,550.3 3.7 16,057.9 3.3

Austria 767.9 2.6 647.6 -15.7 650.4 0.4 666.0 2.4 689.8 3.6 714.2 3.5 736.9 3.2

Belgium 893.6 -6.9 801.0 -10.4 809.9 1.1 831.5 2.7 854.5 2.8 878.3 2.8 899.6 2.4

Germany 3,712.4 -9.2 3,175.7 -14.5 3,290.8 3.6 3,406.9 3.5 3,541.1 3.9 3,683.0 4.0 3,807.6 3.4

Denmark 296.4 -11.5 217.4 -26.7 219.8 1.1 223.9 1.9 230.5 2.9 237.8 3.2 244.0 2.6

Spain 2,304.1 -7.6 1,792.7 -22.2 1,756.2 -2.0 1,775.2 1.1 1,853.1 4.4 1,946.9 5.1 2,046.2 5.1

Finland 109.3 -5.4 88.0 -19.4 88.1 0.0 89.3 1.4 92.2 3.3 95.3 3.4 98.2 3.0

France 3,923.1 -1.7 3,466.9 -11.6 3,534.3 1.9 3,615.0 2.3 3,753.1 3.8 3,903.6 4.0 4,043.7 3.6

United Kindom 1,848.1 -14.2 1,477.7 -20.0 1,529.3 3.5 1,544.0 1.0 1,563.7 1.3 1,590.4 1.7 1,609.5 1.2

Greece 959.5 1.5 762.2 -20.6 720.6 -5.5 722.7 0.3 735.4 1.8 760.9 3.5 780.6 2.6

Ireland 124.3 -6.1 87.2 -29.8 80.5 -7.7 80.8 0.3 83.0 2.7 85.3 2.8 87.3 2.4

Netherland 1,060.6 2.4 855.1 -19.4 863.9 1.0 888.3 2.8 923.1 3.9 959.8 4.0 993.6 3.5

Portugal 552.6 -4.5 458.1 -17.1 438.3 -4.3 440.5 0.5 455.9 3.5 469.5 3.0 481.4 2.5

Sweden 252.6 -5.2 201.4 -20.2 212.5 5.5 216.4 1.8 220.8 2.0 225.3 2.1 229.3 1.8

Other EU 3,005.8 -4.4 2,425.8 -19.3 2,453.7 1.2 2,525.0 2.9 2,653.7 5.1 2,790.4 5.2 2,933.4 5.1

Bulgaria 349.4 0.6 298.7 -14.5 288.9 -3.3 300.2 3.9 312.1 4.0 315.3 1.0 317.1 0.6

Czech Republic 341.7 -6.3 266.9 -21.9 279.4 4.6 290.0 3.8 306.1 5.5 323.9 5.8 341.5 5.4

Hungary 290.7 -22.0 228.9 -21.3 233.1 1.8 239.6 2.8 249.4 4.1 259.5 4.1 268.9 3.6

Poland 666.8 6.1 580.6 -12.9 593.8 2.3 617.2 3.9 647.0 4.8 679.9 5.1 711.5 4.6

Slovakia 173.0 3.1 146.7 -15.2 150.0 2.2 155.6 3.7 163.6 5.1 172.3 5.3 180.8 4.9

Romania 1,184.2 -6.2 904.0 -23.7 908.5 0.5 922.4 1.5 975.5 5.8 1,039.5 6.6 1,113.6 7.1

Other Europe 5,730.7 6.1 4,294.6 -25.1 4,502.6 4.8 4,721.8 4.9 4,979.1 5.4 5,262.9 5.7 5,537.2 5.2

Belarus 41.4 4.7 32.7 -21.0 32.1 -1.7 33.5 4.2 35.6 6.2 37.8 6.3 39.9 5.6

Croatia 335.9 -1.9 292.6 -12.9 275.7 -5.8 281.5 2.1 296.8 5.4 313.2 5.5 329.2 5.1

Russia 2,130.4 10.2 1,440.7 -32.4 1,549.6 7.6 1,652.2 6.6 1,740.7 5.4 1,838.5 5.6 1,932.7 5.1

Ukraine 468.7 10.7 265.0 -43.5 240.4 -9.3 244.6 1.8 261.0 6.7 279.3 7.0 297.9 6.7

Turkey 610.2 -10.1 465.6 -23.7 528.1 13.4 572.8 8.5 611.1 6.7 653.2 6.9 695.2 6.4

Norway 146.0 10.3 118.3 -18.9 116.8 -1.3 116.8 0.1 120.6 3.2 124.8 3.6 128.7 3.1

Switzerland 1,998.1 7.8 1,679.7 -15.9 1,759.9 4.8 1,820.4 3.4 1,913.3 5.1 2,016.1 5.4 2,113.6 4.8

North America 2,430.2 -12.4 1,711.2 -29.6 1,770.5 3.5 1,822.7 2.9 1,894.7 4.0 1,982.9 4.7 2,066.6 4.2

Canada 255.8 -5.2 185.4 -27.5 190.2 2.6 193.1 1.5 197.9 2.5 203.3 2.7 208.0 2.3

United States 2,174.4 -13.2 1,525.8 -29.8 1,580.3 3.6 1,629.6 3.1 1,696.8 4.1 1,779.6 4.9 1,858.6 4.4

85

2008 2009 2010 2011 2012 2013 2014


World 35,706.6 -3.5 28,867.3 -19.2 29,811.6 3.3 30,997.0 4.0 32,418.8 4.6 33,987.9 4.8 35,498.1 4.4

Latin America 296.6 1.0 222.0 -25.2 240.4 8.3 253.7 5.5 265.2 4.5 277.3 4.6 288.7 4.1

Argentina 23.3 9.6 18.5 -20.4 19.9 7.4 21.2 6.5 22.1 4.4 23.1 4.4 24.0 4.1

Brazil 75.6 -5.1 54.9 -27.4 60.4 10.0 65.6 8.6 70.9 8.1 76.4 7.8 81.9 7.2

Chile 21.5 3.5 17.4 -19.1 18.9 8.6 19.7 4.5 21.0 6.4 22.3 6.3 23.6 5.7

Mexico 176.2 2.3 131.2 -25.5 141.2 7.7 147.2 4.2 151.2 2.8 155.5 2.8 159.2 2.4

Asia 3,257.7 -6.2 2,657.4 -18.4 2,837.4 6.8 2,985.6 5.2 3,189.0 6.8 3,409.0 6.9 3,626.9 6.4

Australia 141.1 -1.5 112.2 -20.5 117.0 4.3 122.3 4.5 127.8 4.5 133.7 4.6 139.2 4.1

China 427.1 12.5 410.1 -4.0 445.0 8.5 489.7 10.0 550.2 12.4 621.5 12.9 696.9 12.1

Hong Kong 1,029.9 -4.3 811.0 -21.3 924.0 13.9 991.1 7.3 1,058.3 6.8 1,124.2 6.2 1,186.6 5.5

Indonesia 17.8 -0.4 11.9 -32.9 12.5 4.5 13.3 6.6 14.2 7.0 15.3 7.7 16.5 7.8

India 85.5 -3.4 66.3 -22.4 69.9 5.3 75.4 7.9 81.6 8.2 88.6 8.5 95.7 8.1

Japon 980.2 -11.2 842.3 -14.1 853.4 1.3 861.4 0.9 897.8 4.2 935.3 4.2 970.6 3.8

South Korea 348.2 -12.1 228.1 -34.5 231.4 1.4 239.7 3.6 256.4 7.0 277.0 8.1 298.0 7.5

Malaysia 13.5 0.0 12.0 -11.1 12.9 7.4 13.3 3.0 13.7 2.9 14.1 2.7 14.3 1.8

Philippines 16.6 -52.4 12.6 -24.4 13.4 6.9 14.4 7.2 15.6 8.4 17.0 8.7 18.4 8.1

Singapore 51.4 -3.5 42.2 -17.8 42.8 1.3 44.3 3.5 46.0 3.9 47.8 3.9 49.5 3.4

Thailand 50.1 -12.2 35.0 -30.2 35.7 2.1 37.7 5.5 40.3 6.9 43.1 6.8 45.8 6.3

Taiwan 96.3 -12.2 73.7 -23.5 79.4 7.8 83.0 4.5 87.1 5.0 91.4 4.9 95.4 4.4

North Africa 873.3 1.4 771.8 -11.6 795.8 3.1 832.9 4.7 878.0 5.4 929.8 5.9 980.7 5.5

Algeria 23.6 -3.7 22.6 -4.3 23.1 2.1 23.8 3.3 25.0 5.1 26.4 5.3 27.7 4.9

Egypt 107.0 26.1 92.0 -14.0 97.0 5.4 102.8 6.0 109.2 6.3 116.2 6.5 123.2 6.0

Libya 25.8 50.9 32.9 27.5 36.0 9.6 37.9 5.2 39.8 5.1 42.0 5.3 44.0 4.9

Tunisia 716.9 -2.5 624.3 -12.9 639.7 2.5 668.4 4.5 704.0 5.3 745.2 5.9 785.8 5.4


Angola 2.6 -11.9 3.7 43.6 3.2 -12.8 3.3 2.8 3.6 8.1 3.9 7.3 4.1 6.8

Nigeria 23.9 13.2 27.1 13.6 29.2 7.7 30.7 4.9 32.6 6.4 34.6 6.0 36.5 5.6

South Africa 53.4 -10.6 45.6 -14.7 47.5 4.1 50.0 5.4 53.2 6.3 56.7 6.6 60.1 6.1

Middle east 474.0 20.8 394.3 -16.8 385.6 -2.2 399.9 3.7 425.6 6.4 453.3 6.5 480.4 6.0

Qatar 37.1 36.4 35.6 -4.3 34.1 -4.1 34.9 2.3 37.2 6.6 39.7 6.9 42.3 6.4

Saudi Arabia 163.9 20.2 136.3 -16.8 131.3 -3.7 136.0 3.6 144.1 5.9 152.9 6.2 161.8 5.8

UAE 273.0 19.3 222.4 -18.5 220.2 -1.0 229.0 4.0 244.3 6.7 260.7 6.7 276.3 6.0

86

Table 2.2.c Value of exports of other consumer goods by destination country (values in millions of euro and % changes)

2008 2009 2010 2011 2012 2013 2014


World 27,737.8 -3.6 23,374.4 -15.7 24,885.6 6.5 26,146.5 5.1 27,570.1 5.4 29,156.1 5.8 30,712.0 5.3

EU 15 10,523.7 -7.2 8,718.6 -17.2 9,203.5 5.6 9,565.1 3.9 10,093.7 5.5 10,682.1 5.8 11,257.0 5.4

Austria 451.3 -6.7 402.1 -10.9 422.9 5.2 435.0 2.9 444.8 2.3 454.5 2.2 462.9 1.9

Belgium 490.9 -11.5 419.3 -14.6 457.5 9.1 479.6 4.8 498.6 4.0 517.2 3.7 534.6 3.4

Germany 2,150.4 -6.9 1,790.3 -16.7 1,881.2 5.1 1,957.2 4.0 2,041.3 4.3 2,127.7 4.2 2,204.5 3.6

Denmark 157.6 -9.2 102.1 -35.2 110.5 8.2 116.4 5.3 124.6 7.1 133.4 7.0 141.9 6.4

Spain 1,172.5 -18.5 795.4 -32.2 839.0 5.5 857.8 2.2 897.3 4.6 947.4 5.6 1,000.6 5.6

Finland 92.7 -4.0 81.2 -12.4 85.1 4.7 87.7 3.0 91.6 4.5 96.1 4.8 100.3 4.4

France 3,108.1 -2.7 2,707.8 -12.9 2,853.4 5.4 2,986.9 4.7 3,180.7 6.5 3,400.5 6.9 3,620.5 6.5

United Kindom 1,355.3 -9.3 1,218.4 -10.1 1,324.4 8.7 1,394.9 5.3 1,508.3 8.1 1,630.4 8.1 1,752.6 7.5

Greece 598.2 5.1 405.4 -32.2 401.0 -1.1 399.1 -0.5 416.1 4.3 442.6 6.4 466.6 5.4

Ireland 73.0 -29.6 41.3 -43.4 40.4 -2.2 41.8 3.5 44.3 5.8 46.8 5.7 49.3 5.3

Netherland 408.2 -2.2 342.7 -16.1 365.9 6.8 377.0 3.0 393.6 4.4 411.9 4.6 429.1 4.2

Portugal 295.3 -5.1 272.0 -7.9 270.0 -0.8 275.7 2.1 290.2 5.3 304.3 4.9 317.8 4.4

Sweden 170.2 -8.9 140.6 -17.4 152.2 8.3 156.0 2.5 162.3 4.0 169.3 4.4 176.3 4.1

Other EU 1,857.5 -4.1 1,348.4 -27.4 1,379.6 2.3 1,417.0 2.7 1,486.5 4.9 1,564.7 5.3 1,645.8 5.2

Bulgaria 148.5 -3.8 112.2 -24.5 117.2 4.5 123.0 5.0 129.0 4.8 131.5 2.0 133.6 1.6

Czech Republic 220.7 5.9 158.3 -28.3 163.1 3.0 165.0 1.2 167.6 1.5 170.0 1.4 171.6 0.9

Hungary 226.8 -13.5 149.9 -33.9 146.3 -2.4 146.7 0.3 151.3 3.1 157.4 4.1 163.1 3.6

Poland 560.6 -0.5 392.9 -29.9 412.1 4.9 433.7 5.2 461.4 6.4 493.7 7.0 526.0 6.5

Slovakia 131.0 5.7 114.7 -12.4 118.5 3.3 121.6 2.6 126.7 4.1 132.1 4.3 137.3 3.9

Romania 569.9 -8.8 420.4 -26.2 422.4 0.5 427.0 1.1 450.5 5.5 480.0 6.6 514.2 7.1

Other Europe 4,245.7 8.2 4,104.3 -3.3 4,245.1 3.4 4,366.4 2.9 4,581.5 4.9 4,826.8 5.4 5,067.0 5.0

Belarus 18.5 29.2 12.2 -34.3 11.9 -2.3 12.2 2.8 12.7 4.2 13.3 4.3 13.9 4.3

Croatia 201.3 -21.9 154.4 -23.3 144.9 -6.1 147.1 1.5 155.1 5.4 163.7 5.5 172.0 5.1

Russia 799.2 9.5 442.3 -44.7 466.9 5.6 485.7 4.0 507.2 4.4 535.8 5.6 563.2 5.1

Ukraine 178.0 10.9 99.3 -44.2 95.5 -3.8 96.8 1.4 101.8 5.2 108.3 6.4 115.6 6.7

Turkey 440.1 -5.2 277.9 -36.9 306.9 10.4 326.4 6.4 346.6 6.2 370.5 6.9 394.4 6.4

Norway 91.6 -14.2 71.2 -22.2 73.7 3.5 77.4 5.0 83.5 7.9 90.4 8.3 97.5 7.8

Switzerland 2,517.0 14.8 3,047.0 21.1 3,145.3 3.2 3,220.8 2.4 3,374.6 4.8 3,544.8 5.0 3,710.4 4.7

North America 2,688.2 -21.1 1,829.3 -32.0 1,897.4 3.7 1,961.0 3.4 2,048.6 4.5 2,156.9 5.3 2,261.3 4.8

Canada 289.2 -4.5 223.5 -22.7 234.5 4.9 243.3 3.7 255.4 5.0 269.6 5.6 283.3 5.1

United States 2,399.0 -22.7 1,605.8 -33.1 1,662.9 3.6 1,717.7 3.3 1,793.2 4.4 1,887.3 5.2 1,978.0 4.8

87

2008 2009 2010 2011 2012 2013 2014


World 27,737.8 -3.6 23,374.4 -15.7 24,885.6 6.5 26,146.5 5.1 27,570.1 5.4 29,156.1 5.8 30,712.0 5.3

Latin America 283.2 -5.5 227.0 -19.8 247.1 8.9 262.6 6.3 279.2 6.3 297.2 6.4 315.1 6.0

Argentina 36.2 11.5 31.9 -11.8 35.7 11.7 37.7 5.5 38.8 3.0 39.9 3.0 41.0 2.6

Brazil 88.8 -1.0 71.8 -19.1 78.7 9.5 83.6 6.2 88.5 5.9 93.5 5.7 98.3 5.1

Chile 20.5 23.7 14.7 -28.6 15.1 3.3 15.4 1.5 16.1 4.4 16.9 5.5 17.8 4.9

Mexico 137.7 -14.4 108.6 -21.1 117.6 8.3 125.9 7.1 135.8 7.8 146.9 8.2 158.0 7.6

Asia 2,975.7 -4.5 2,667.3 -10.4 2,894.6 8.5 3,031.4 4.7 3,205.3 5.7 3,393.8 5.9 3,574.2 5.3

Australia 215.1 0.6 167.8 -22.0 177.2 5.6 184.9 4.3 192.0 3.9 200.3 4.3 208.2 3.9

China 489.7 -8.0 493.0 0.7 526.5 6.8 557.0 5.8 601.9 8.1 654.5 8.7 706.4 7.9

Hong Kong 994.9 -1.9 863.6 -13.2 990.4 14.7 1,041.1 5.1 1,090.0 4.7 1,135.5 4.2 1,175.2 3.5

Indonesia 45.9 -4.4 42.9 -6.6 44.7 4.2 47.0 5.2 49.7 5.8 53.0 6.6 56.6 6.7

India 141.9 8.2 115.5 -18.6 123.1 6.6 129.3 5.0 136.5 5.5 144.5 5.9 152.4 5.4

Japon 520.9 -10.5 426.1 -18.2 433.4 1.7 440.7 1.7 466.5 5.9 493.6 5.8 520.1 5.4

South Korea 258.2 -5.8 264.2 2.3 283.2 7.2 298.8 5.5 316.5 5.9 338.9 7.1 361.2 6.6

Malaysia 31.5 -13.1 26.4 -16.2 27.8 5.3 29.8 7.0 32.0 7.4 34.4 7.5 36.7 6.7

Philippines 27.4 18.8 23.4 -14.7 24.9 6.5 25.8 3.7 27.1 5.0 28.5 5.2 29.8 4.7

Singapore 98.4 5.8 95.1 -3.4 100.9 6.0 106.0 5.0 111.0 4.8 116.4 4.8 121.4 4.4

Thailand 74.9 -13.2 78.9 5.3 82.4 4.5 86.1 4.4 91.5 6.3 97.6 6.7 103.6 6.2

Taiwan 76.9 -4.4 70.4 -8.5 80.1 13.8 84.9 5.9 90.6 6.7 96.6 6.7 102.6 6.2

North Africa 425.5 10.2 451.7 6.2 502.6 11.3 528.4 5.1 558.6 5.7 590.8 5.8 622.4 5.3

Algeria 46.1 -12.8 29.3 -36.4 29.1 -0.7 29.3 0.8 30.6 4.3 32.2 5.3 33.8 4.9

Egypt 54.2 7.8 52.1 -3.9 56.4 8.1 58.0 3.0 61.1 5.2 65.0 6.5 68.9 6.0

Libya 90.9 59.0 122.4 34.6 132.5 8.3 138.1 4.2 145.1 5.1 152.9 5.3 160.4 4.9

Tunisia 234.3 3.7 247.9 5.8 284.6 14.8 303.0 6.5 321.8 6.2 340.7 5.9 359.3 5.4


Angola 6.0 93.0 4.9 -18.4 4.0 -17.8 4.1 1.9 4.4 7.1 4.7 6.6 4.9 6.2

Nigeria 38.7 3.3 31.6 -18.4 33.4 5.7 35.2 5.4 37.4 6.3 39.6 6.0 41.8 5.6

South Africa 73.1 -16.9 52.7 -27.8 54.4 3.1 55.8 2.6 57.7 3.3 59.7 3.5 61.5 3.0

Middle east 1,286.7 26.2 988.0 -23.2 963.2 -2.5 986.7 2.4 1,045.8 6.0 1,110.0 6.1 1,172.8 5.7

Qatar 50.6 38.4 60.3 19.2 60.6 0.6 62.7 3.3 67.0 7.0 71.6 6.9 76.2 6.4

Saudi Arabia 186.4 15.3 151.0 -19.0 152.0 0.7 155.8 2.4 163.1 4.7 172.1 5.5 182.1 5.8

UAE 1,049.7 27.8 776.7 -26.0 750.6 -3.4 768.2 2.3 815.7 6.2 866.3 6.2 914.5 5.6

88

Table 2.3 Value of exports of intermediate goods by destination country (values in millions of euro and % changes)

2008 2009 2010 2011 2012 2013 2014


World 107,919.2 4.0 79,654.9 -26.2 92,707.9 16.4 101,980.3 10.0 110,472.2 8.3 117,742.0 6.6 125,230.7 6.4

EU 15 55,121.8 -3.0 40,191.3 -27.1 45,009.8 12.0 49,154.3 9.2 52,958.0 7.7 56,097.9 5.9 59,318.3 5.7

Austria 3,019.1 0.2 2,065.4 -31.6 2,298.7 11.3 2,523.2 9.8 2,699.3 7.0 2,843.6 5.3 2,983.4 4.9

Belgium 3,703.1 -15.0 3,036.7 -18.0 3,402.7 12.1 3,726.0 9.5 4,008.3 7.6 4,223.1 5.4 4,439.1 5.1

Germany 14,669.2 3.0 10,307.0 -29.7 12,156.9 17.9 13,410.4 10.3 14,547.6 8.5 15,547.6 6.9 16,579.7 6.6

Denmark 577.1 -7.3 393.1 -31.9 427.7 8.8 470.4 10.0 507.5 7.9 536.4 5.7 562.2 4.8

Spain 9,247.5 -5.2 6,177.1 -33.2 6,824.7 10.5 7,322.0 7.3 7,827.4 6.9 8,238.6 5.3 8,661.3 5.1

Finland 453.2 3.7 294.4 -35.0 311.2 5.7 344.1 10.6 375.5 9.1 401.3 6.9 427.9 6.6

France 11,632.4 -2.9 8,690.5 -25.3 9,865.1 13.5 10,797.7 9.5 11,639.0 7.8 12,306.5 5.7 13,000.0 5.6

United Kindom 4,122.6 -10.3 3,142.7 -23.8 3,608.2 14.8 3,917.2 8.6 4,153.7 6.0 4,336.7 4.4 4,520.8 4.2

Greece 2,564.6 0.4 1,970.4 -23.2 1,813.5 -8.0 1,920.7 5.9 2,081.3 8.4 2,217.7 6.6 2,358.0 6.3

Ireland 456.7 -4.7 341.5 -25.2 302.7 -11.4 320.3 5.8 350.0 9.3 376.1 7.5 403.2 7.2

Netherland 2,795.0 -1.4 2,334.9 -16.5 2,551.2 9.3 2,826.6 10.8 3,068.7 8.6 3,268.6 6.5 3,475.4 6.3

Portugal 938.6 -1.1 813.5 -13.3 740.5 -9.0 800.0 8.0 865.3 8.2 919.7 6.3 976.2 6.1

Sweden 942.7 -8.4 624.1 -33.8 706.7 13.2 775.7 9.8 834.4 7.6 882.0 5.7 931.1 5.6

Other EU 7,302.5 6.6 5,313.7 -27.2 5,811.2 9.4 6,432.8 10.7 7,001.4 8.8 7,489.6 7.0 7,993.7 6.7

Bulgaria 346.5 1.6 222.8 -35.7 219.6 -1.4 237.8 8.3 260.7 9.6 280.3 7.5 300.7 7.3

Czech Republic 1,192.2 2.2 835.5 -29.9 922.6 10.4 1,020.6 10.6 1,108.1 8.6 1,184.1 6.9 1,263.3 6.7

Hungary 1,181.2 6.6 818.4 -30.7 928.0 13.4 1,028.1 10.8 1,124.6 9.4 1,211.8 7.8 1,303.1 7.5

Poland 2,467.8 7.8 1,988.1 -19.4 2,085.7 4.9 2,288.7 9.7 2,463.8 7.6 2,610.6 6.0 2,760.3 5.7

Slovakia 605.9 10.0 459.7 -24.1 533.1 15.9 588.9 10.5 641.1 8.9 684.2 6.7 727.6 6.3

Romania 1,508.9 8.2 989.2 -34.4 1,122.2 13.4 1,268.7 13.1 1,403.1 10.6 1,518.6 8.2 1,638.7 7.9

Other Europe 11,052.7 15.6 8,334.2 -24.6 9,598.1 15.2 10,730.8 11.8 11,717.8 9.2 12,535.9 7.0 13,377.1 6.7

Belarus 62.1 13.7 48.8 -21.4 48.7 -0.3 52.2 7.2 55.7 6.8 59.2 6.2 63.1 6.6

Croatia 1,299.7 26.7 781.5 -39.9 746.2 -4.5 797.1 6.8 866.2 8.7 927.0 7.0 987.2 6.5

Russia 1,430.5 7.8 943.3 -34.1 1,075.5 14.0 1,193.8 11.0 1,293.9 8.4 1,384.9 7.0 1,479.5 6.8

Ukraine 468.1 55.0 194.9 -58.4 182.1 -6.6 188.8 3.7 206.0 9.1 221.1 7.3 236.7 7.1

Turkey 2,698.4 29.2 2,045.3 -24.2 2,615.5 27.9 3,052.8 16.7 3,383.0 10.8 3,661.6 8.2 3,947.8 7.8

Norway 359.0 3.9 240.5 -33.0 239.7 -0.3 254.8 6.3 276.2 8.4 294.4 6.6 313.1 6.3

Switzerland 4,734.9 7.3 4,079.9 -13.8 4,690.4 15.0 5,191.3 10.7 5,636.8 8.6 5,987.7 6.2 6,349.7 6.0

North America 5,794.7 1.8 4,016.7 -30.7 4,598.4 14.5 5,091.9 10.7 5,499.4 8.0 5,854.4 6.5 6,222.0 6.3

Canada 536.6 -13.0 379.7 -29.2 423.9 11.6 464.1 9.5 497.4 7.2 527.6 6.1 558.5 5.9

United States 5,258.1 3.6 3,637.0 -30.8 4,174.5 14.8 4,627.8 10.9 5,002.0 8.1 5,326.8 6.5 5,663.5 6.3

89

2008 2009 2010 2011 2012 2013 2014


World 107,919.2 4.0 79,654.9 -26.2 92,707.9 16.4 101,980.3 10.0 110,472.2 8.3 117,742.0 6.6 125,230.7 6.4

Latin America 2,128.1 -15.2 1,312.5 -38.3 1,689.6 28.7 1,973.4 16.8 2,199.6 11.5 2,392.5 8.8 2,595.2 8.5

Argentina 185.8 3.0 130.7 -29.7 202.5 55.0 221.8 9.5 240.7 8.6 256.6 6.6 272.9 6.3

Brazil 748.3 32.0 558.8 -25.3 760.4 36.1 918.2 20.8 1,042.6 13.6 1,149.7 10.3 1,263.0 9.9

Chile 95.7 12.3 100.9 5.4 108.1 7.1 122.5 13.3 136.2 11.2 147.6 8.4 159.5 8.0

Mexico 1,098.3 -34.5 522.1 -52.5 618.6 18.5 710.9 14.9 780.1 9.7 838.6 7.5 899.8 7.3

Asia 5,893.9 5.2 5,288.7 -10.3 6,200.4 17.2 6,992.9 12.8 7,732.5 10.6 8,389.0 8.5 9,082.2 8.3

Australia 565.2 10.3 451.6 -20.1 526.5 16.6 584.9 11.1 633.8 8.4 675.3 6.6 718.1 6.3

China 1,416.6 3.4 1,371.7 -3.2 1,717.4 25.2 1,994.7 16.1 2,254.2 13.0 2,493.2 10.6 2,752.7 10.4

Hong Kong 306.1 -3.4 271.7 -11.2 312.5 15.0 342.6 9.6 369.3 7.8 391.5 6.0 414.2 5.8

Indonesia 127.8 18.1 97.2 -24.0 117.2 20.6 131.0 11.8 142.5 8.8 151.9 6.6 161.5 6.3

India 714.9 -4.7 717.3 0.3 847.7 18.2 961.3 13.4 1,070.3 11.3 1,172.6 9.6 1,280.6 9.2

Japon 918.1 4.1 922.3 0.5 939.4 1.9 995.8 6.0 1,073.9 7.8 1,138.9 6.1 1,205.2 5.8

South Korea 620.8 7.7 487.7 -21.4 569.7 16.8 639.7 12.3 703.2 9.9 759.4 8.0 818.4 7.8

Malaysia 155.7 14.1 119.1 -23.5 146.5 23.1 165.3 12.8 179.4 8.5 191.2 6.6 203.4 6.4

Philippines 54.9 5.1 52.4 -4.5 62.4 19.0 72.0 15.4 80.0 11.1 87.2 9.0 94.8 8.7

Singapore 561.3 24.3 328.9 -41.4 372.8 13.3 414.8 11.3 461.4 11.2 497.2 7.8 533.9 7.4

Thailand 232.9 13.4 215.7 -7.4 256.9 19.1 285.7 11.2 313.2 9.6 337.1 7.6 362.1 7.4

Taiwan 219.6 -8.4 253.1 15.2 331.4 30.9 405.1 22.2 451.3 11.4 493.5 9.3 537.3 8.9

North Africa 5,148.5 46.8 3,863.4 -25.0 4,191.3 8.5 4,608.2 9.9 5,042.5 9.4 5,414.3 7.4 5,807.4 7.3

Algeria 1,515.9 76.4 989.8 -34.7 991.3 0.2 1,044.1 5.3 1,131.3 8.4 1,205.5 6.6 1,281.8 6.3

Egypt 1,155.7 49.6 906.2 -21.6 897.7 -0.9 951.1 5.9 1,036.7 9.0 1,111.2 7.2 1,188.5 7.0

Libya 1,504.8 66.4 1,117.7 -25.7 1,173.5 5.0 1,264.7 7.8 1,379.2 9.1 1,484.5 7.6 1,600.4 7.8

Tunisia 972.1 0.1 849.7 -12.6 1,128.8 32.9 1,348.3 19.4 1,495.3 10.9 1,613.1 7.9 1,736.7 7.7


Angola 43.7 -5.0 104.9 140.1 94.1 -10.3 100.7 7.0 110.4 9.7 119.1 7.8 128.2 7.6

Nigeria 237.1 -18.4 260.2 9.7 305.8 17.5 345.6 13.0 372.3 7.7 394.7 6.0 417.9 5.9

South Africa 343.6 3.5 275.8 -19.7 310.8 12.7 347.9 11.9 378.7 8.9 404.2 6.7 428.7 6.1

Middle east 2,347.5 23.1 1,577.1 -32.8 1,565.2 -0.8 1,649.0 5.4 1,784.0 8.2 1,915.1 7.3 2,062.3 7.7

Qatar 396.8 23.9 234.6 -40.9 232.9 -0.7 249.5 7.1 273.0 9.4 290.9 6.6 309.3 6.3

Saudi Arabia 799.7 5.9 563.6 -29.5 585.2 3.8 627.0 7.2 669.5 6.8 711.5 6.3 763.8 7.3

UAE 1,151.0 38.4 778.9 -32.3 747.1 -4.1 772.5 3.4 841.5 8.9 912.7 8.5 989.2 8.4

90

Table 2.3.a Value of exports of mineral products by destination country (values in millions of euro and % changes)

2008 2009 2010 2011 2012 2013 2014


World 19,357.8 25.5 11,859.8 -38.7 14,056.1 18.5 15,866.3 12.9 17,518.5 10.4 18,886.1 7.8 20,251.3 7.2

EU 15 6,488.8 7.8 4,094.1 -36.9 4,556.7 11.3 5,093.5 11.8 5,604.5 10.0 6,008.4 7.2 6,413.7 6.7

Austria 539.2 31.4 318.4 -40.9 356.9 12.1 400.1 12.1 434.4 8.6 462.2 6.4 487.4 5.4

Belgium 113.3 -23.4 77.0 -32.0 86.8 12.6 97.3 12.1 106.5 9.4 113.6 6.7 120.0 5.6

Germany 253.6 15.8 201.1 -20.7 244.0 21.3 279.2 14.4 310.5 11.2 335.1 7.9 360.9 7.7

Denmark 21.7 180.9 19.9 -8.1 22.3 11.9 25.4 14.2 28.1 10.7 30.0 6.7 31.6 5.3

Spain 3,347.6 7.3 1,825.7 -45.5 2,066.4 13.2 2,303.2 11.5 2,536.1 10.1 2,727.1 7.5 2,924.4 7.2

Finland 3.2 7.8 3.2 -0.3 3.5 8.9 4.0 15.0 4.5 11.9 4.9 7.9 5.2 7.1

France 1,028.3 -0.3 595.9 -42.0 682.5 14.5 762.2 11.7 835.0 9.5 891.7 6.8 949.5 6.5

United Kindom 303.2 52.6 264.4 -12.8 312.1 18.1 350.7 12.4 381.2 8.7 401.9 5.4 421.1 4.8

Greece 610.5 14.4 545.2 -10.7 515.2 -5.5 564.9 9.6 627.5 11.1 675.3 7.6 721.6 6.9

Ireland 19.9 251.9 0.7 -96.6 0.6 -8.9 0.7 9.7 0.7 12.0 0.8 8.5 0.9 7.8

Netherland 224.7 -30.3 194.7 -13.3 219.1 12.5 252.5 15.2 280.9 11.3 302.2 7.6 323.0 6.9

Portugal 9.0 27.2 37.1 311.2 34.7 -6.5 38.9 12.1 43.0 10.8 46.2 7.4 49.3 6.7

Sweden 14.6 30.9 10.8 -26.1 12.6 17.0 14.4 14.7 16.1 11.3 17.4 8.3 18.8 7.7

Other EU 201.2 7.0 185.6 -7.8 211.3 13.8 243.1 15.0 272.4 12.1 295.8 8.6 318.8 7.8

Bulgaria 15.0 -57.6 11.8 -21.8 11.7 -0.1 13.0 10.9 14.5 11.4 15.7 8.6 17.0 7.8

Czech Republic 33.9 248.9 12.0 -64.5 13.4 11.4 15.2 13.5 16.9 10.7 18.2 7.9 19.5 7.2

Hungary 14.5 25.4 19.2 32.1 22.4 17.1 25.7 14.6 28.7 11.6 31.2 8.8 33.7 8.1

Poland 38.9 20.9 28.6 -26.4 30.3 5.7 33.9 12.0 37.1 9.4 39.7 7.0 42.2 6.3

Slovakia 9.9 151.9 26.3 165.1 31.3 19.1 35.8 14.2 39.8 11.3 42.9 7.8 45.8 6.9

Romania 89.0 -6.5 87.7 -1.5 102.2 16.6 119.5 16.9 135.4 13.3 148.1 9.3 160.6 8.4

Other Europe 2,422.7 101.7 1,333.7 -44.9 1,580.4 18.5 1,824.4 15.4 2,026.4 11.1 2,192.6 8.2 2,354.2 7.4

Belarus 1.6 131.5 1.0 -37.9 1.0 2.6 1.2 11.4 1.3 9.2 1.4 7.3 1.4 7.1

Croatia 484.4 95.2 154.1 -68.2 151.9 -1.5 167.9 10.6 187.0 11.4 202.1 8.1 216.4 7.0

Russia 30.1 239.5 9.3 -69.0 10.7 14.6 12.1 12.7 13.3 10.0 14.3 8.1 15.4 7.4

Ukraine 160.1 819.9 1.7 -98.9 1.6 -4.0 1.8 7.3 2.0 11.8 2.1 8.4 2.3 7.6

Turkey 909.7 140.9 487.2 -46.4 625.3 28.4 747.4 19.5 839.9 12.4 918.2 9.3 994.9 8.4

Norway 3.0 111.1 1.2 -61.2 1.2 -0.1 1.3 8.5 1.4 10.6 1.5 7.6 1.6 6.9

Switzerland 833.8 52.5 679.2 -18.5 788.7 16.1 892.7 13.2 981.5 9.9 1,053.0 7.3 1,122.2 6.6

North America 1,717.0 12.0 805.6 -53.1 946.9 17.5 1,086.3 14.7 1,199.8 10.4 1,290.3 7.5 1,383.8 7.2

Canada 94.0 -42.0 36.2 -61.5 40.7 12.5 45.4 11.4 49.2 8.4 52.7 7.1 56.1 6.4

United States 1,623.0 18.3 769.4 -52.6 906.2 17.8 1,040.9 14.9 1,150.6 10.5 1,237.6 7.6 1,327.7 7.3

91

2008 2009 2010 2011 2012 2013 2014


World 19,357.8 25.5 11,859.8 -38.7 14,056.1 18.5 15,866.3 12.9 17,518.5 10.4 18,886.1 7.8 20,251.3 7.2

Latin America 515.6 -47.1 112.5 -78.2 123.1 9.4 148.7 20.8 169.7 14.1 187.6 10.5 205.8 9.7

Argentina 22.5 39.2 1.6 -93.0 2.5 56.8 2.8 12.3 3.1 10.7 3.3 7.7 3.6 6.9

Brazil 114.8 108.8 28.1 -75.5 38.7 37.8 47.8 23.5 55.2 15.5 61.5 11.4 67.9 10.4

Chile 0.8 -27.7 17.4 2,092.0 2.1 -87.8 2.5 15.8 2.8 14.0 3.1 9.5 3.3 8.6

Mexico 377.5 -58.2 65.4 -82.7 79.8 21.9 95.6 19.9 108.6 13.6 119.7 10.2 131.0 9.4

Asia 419.4 13.7 269.2 -35.8 328.1 21.9 386.1 17.7 438.8 13.6 483.4 10.2 528.3 9.3

Australia 2.8 33.0 2.4 -15.8 2.9 20.6 3.3 15.0 3.6 11.1 3.9 7.6 4.2 6.9

China 52.9 6.4 85.0 60.6 110.0 29.5 132.7 20.6 153.4 15.6 171.3 11.7 190.1 11.0

Hong Kong 5.8 23.8 6.9 19.6 8.0 16.2 9.0 12.1 9.8 9.4 10.5 7.1 11.2 6.3

Indonesia 8.4 30.8 5.3 -37.5 6.5 23.7 7.5 15.7 8.4 11.5 9.1 7.6 9.7 6.9

India 54.2 9.5 44.0 -18.8 52.6 19.5 61.0 16.0 69.0 13.2 76.4 10.7 83.8 9.8

Japon 24.7 -51.0 22.2 -10.0 22.9 3.2 25.0 9.0 27.4 9.8 29.4 7.1 31.3 6.4

South Korea 33.6 772.7 14.6 -56.7 17.2 18.0 19.7 14.8 22.0 11.6 24.0 9.1 26.0 8.3

Malaysia 2.0 -17.2 2.2 11.9 2.8 24.4 3.2 15.2 3.5 10.1 3.8 7.6 4.0 6.9

Philippines 0.1 55.3 0.1 28.9 0.2 20.4 0.2 18.3 0.2 13.0 0.3 10.1 0.3 9.3

Singapore 220.7 29.4 61.6 -72.1 72.0 17.0 83.2 15.5 94.5 13.6 102.8 8.8 111.0 7.9

Thailand 3.8 32.9 3.5 -9.0 4.2 20.6 4.8 13.7 5.3 11.5 5.8 8.7 6.3 8.0

Taiwan 10.4 -60.7 21.4 106.4 28.8 34.7 36.5 26.8 41.7 14.3 46.1 10.4 50.4 9.4

North Africa 2,248.9 46.7 1,625.7 -27.7 1,794.9 10.4 2,011.4 12.1 2,228.9 10.8 2,412.9 8.3 2,604.1 7.9

Algeria 159.5 4.7 192.8 20.9 195.5 1.4 211.6 8.3 233.5 10.3 251.3 7.6 268.5 6.9

Egypt 397.2 117.5 264.8 -33.3 269.7 1.8 295.7 9.7 330.0 11.6 357.3 8.3 384.1 7.5

Libya 1,299.0 79.0 830.8 -36.0 876.7 5.5 949.5 8.3 1,038.6 9.4 1,121.3 8.0 1,212.5 8.1

Tunisia 393.2 -16.7 337.3 -14.2 453.0 34.3 554.6 22.4 626.8 13.0 683.0 9.0 739.0 8.2


Angola 4.0 674.2 29.8 648.2 27.5 -7.9 30.4 10.6 34.1 12.2 37.1 8.9 40.2 8.1

Nigeria 44.7 -30.2 98.7 121.0 120.5 22.0 141.9 17.8 156.9 10.6 168.0 7.1 178.8 6.4

South Africa 37.4 -18.1 22.5 -39.9 25.7 14.2 29.5 15.1 32.7 10.8 35.3 7.8 37.6 6.6

Middle east 487.3 127.5 304.5 -37.5 304.8 0.1 323.3 6.1 355.4 9.9 388.3 9.3 422.6 8.8

Qatar 1.5 100.1 1.2 -17.0 1.3 1.8 1.4 10.9 1.6 12.1 1.7 7.6 1.8 6.9

Saudi Arabia 120.9 129.0 32.3 -73.3 34.5 6.6 38.2 10.8 41.7 9.1 44.7 7.3 48.3 7.9

UAE 364.9 127.1 271.0 -25.7 269.0 -0.7 283.7 5.5 312.1 10.0 341.9 9.5 372.5 8.9

92

Table 2.3.b Value of exports of chemicals by destination country (values in millions of euro and % changes)

2008 2009 2010 2011 2012 2013 2014


World 28,560.1 0.5 25,722.1 -9.9 30,408.2 18.2 33,540.3 10.3 36,357.7 8.4 38,720.9 6.5 41,160.3 6.3

EU 15 14,821.0 -3.4 13,231.9 -10.7 14,991.7 13.3 16,427.7 9.6 17,749.1 8.0 18,835.7 6.1 19,950.9 5.9

Austria 498.0 -8.7 450.7 -9.5 509.6 13.1 561.0 10.1 601.9 7.3 634.2 5.4 665.4 4.9

Belgium 2,204.8 -21.7 1,927.5 -12.6 2,194.8 13.9 2,419.4 10.2 2,628.6 8.6 2,797.4 6.4 2,969.2 6.1

Germany 3,613.2 6.6 3,178.1 -12.0 3,777.6 18.9 4,151.7 9.9 4,493.8 8.2 4,800.3 6.8 5,113.8 6.5

Denmark 142.8 7.3 117.2 -17.9 129.5 10.5 144.0 11.2 158.3 9.9 170.5 7.7 182.0 6.7

Spain 1,646.5 -4.3 1,542.2 -6.3 1,712.6 11.0 1,828.3 6.8 1,935.6 5.9 2,017.9 4.3 2,100.6 4.1

Finland 115.9 10.4 94.8 -18.2 101.8 7.3 113.8 11.8 126.4 11.1 137.5 8.8 149.1 8.4

France 2,566.2 0.7 2,336.4 -9.0 2,708.2 15.9 2,986.1 10.3 3,234.7 8.3 3,420.9 5.8 3,613.7 5.6

United Kindom 1,369.2 -10.3 1,188.7 -13.2 1,386.0 16.6 1,516.8 9.4 1,624.4 7.1 1,713.3 5.5 1,803.9 5.3

Greece 750.1 2.8 627.5 -16.4 587.4 -6.4 625.7 6.5 680.5 8.8 725.2 6.6 771.1 6.3

Ireland 271.6 4.4 208.7 -23.2 188.5 -9.7 200.5 6.3 219.6 9.5 236.0 7.5 253.1 7.2

Netherland 1,136.5 8.3 1,100.8 -3.1 1,228.2 11.6 1,367.5 11.3 1,488.2 8.8 1,589.2 6.8 1,698.1 6.9

Portugal 288.7 -0.6 273.2 -5.4 252.7 -7.5 275.2 8.9 300.1 9.0 321.6 7.2 344.0 7.0

Sweden 217.5 -2.1 186.1 -14.4 214.8 15.5 237.7 10.7 257.0 8.1 271.7 5.7 286.9 5.6

Other EU 1,451.7 12.3 1,211.1 -16.6 1,330.0 9.8 1,463.6 10.0 1,579.7 7.9 1,673.8 6.0 1,769.9 5.7

Bulgaria 71.1 7.6 56.4 -20.7 55.6 -1.4 59.5 6.9 63.8 7.3 67.1 5.2 70.5 5.0

Czech Republic 190.4 15.4 159.3 -16.3 174.4 9.5 187.5 7.5 195.8 4.4 200.9 2.6 205.9 2.5

Hungary 309.1 6.2 244.4 -20.9 282.1 15.4 314.5 11.5 345.3 9.8 372.1 7.8 400.2 7.5

Poland 524.5 12.2 486.9 -7.2 512.1 5.2 558.3 9.0 597.0 6.9 628.6 5.3 660.2 5.0

Slovakia 76.4 4.8 78.4 2.6 91.2 16.4 99.5 9.0 106.1 6.7 111.0 4.6 115.7 4.2

Romania 280.2 21.6 185.7 -33.7 214.6 15.5 244.3 13.8 271.7 11.2 294.1 8.3 317.4 7.9

Other Europe 3,540.9 2.2 3,388.6 -4.3 3,960.0 16.9 4,439.4 12.1 4,881.5 10.0 5,253.4 7.6 5,639.7 7.4

Belarus 20.7 13.8 17.1 -17.5 17.3 1.3 18.6 7.7 20.0 7.2 21.2 6.3 22.6 6.6

Croatia 222.0 -17.3 174.5 -21.4 167.2 -4.2 176.6 5.7 189.3 7.1 199.7 5.5 209.6 5.0

Russia 460.0 12.7 374.1 -18.7 434.3 16.1 486.0 11.9 529.5 9.0 566.8 7.0 605.5 6.8

Ukraine 98.1 3.0 69.8 -28.9 66.2 -5.0 69.1 4.3 75.9 9.8 81.4 7.3 87.2 7.1

Turkey 541.7 1.9 585.4 8.1 746.8 27.6 869.5 16.4 963.6 10.8 1,043.1 8.3 1,124.7 7.8

Norway 43.8 -0.6 31.1 -29.0 31.6 1.7 33.8 7.0 36.8 8.8 39.2 6.6 41.7 6.3

Switzerland 2,154.6 2.7 2,136.6 -0.8 2,496.6 16.9 2,785.8 11.6 3,066.4 10.1 3,302.0 7.7 3,548.4 7.5

North America 1,885.7 2.1 1,713.5 -9.1 1,968.9 14.9 2,145.9 9.0 2,263.7 5.5 2,339.1 3.3 2,410.1 3.0

Canada 198.4 -14.6 207.1 4.4 234.6 13.3 259.4 10.6 283.0 9.1 305.6 8.0 329.1 7.7

United States 1,687.3 4.5 1,506.4 -10.7 1,734.3 15.1 1,886.5 8.8 1,980.7 5.0 2,033.5 2.7 2,081.0 2.3

93

2008 2009 2010 2011 2012 2013 2014


World 28,560.1 0.5 25,722.1 -9.9 30,408.2 18.2 33,540.3 10.3 36,357.7 8.4 38,720.9 6.5 41,160.3 6.3

Latin America 491.4 11.7 484.4 -1.4 650.5 34.3 766.8 17.9 861.8 12.4 942.7 9.4 1,027.8 9.0

Argentina 65.5 -7.1 59.6 -8.9 94.2 57.9 104.8 11.3 116.0 10.7 126.2 8.8 136.8 8.5

Brazil 258.3 20.2 257.8 -0.2 357.1 38.5 434.5 21.7 496.3 14.2 547.4 10.3 601.3 9.9

Chile 28.8 -5.5 25.1 -12.6 30.4 20.8 34.7 14.4 39.2 12.7 43.0 9.9 47.1 9.5

Mexico 138.8 11.7 141.9 2.2 168.8 18.9 192.8 14.2 210.3 9.1 226.1 7.5 242.6 7.3

Asia 2,525.3 7.1 2,431.8 -3.7 2,805.2 15.4 3,126.6 11.5 3,434.7 9.9 3,706.3 7.9 3,990.5 7.7

Australia 236.6 8.1 217.9 -7.9 254.7 16.9 281.9 10.7 305.1 8.2 325.1 6.6 345.7 6.3

China 489.7 13.2 412.7 -15.7 519.4 25.9 601.4 15.8 679.6 13.0 751.8 10.6 830.1 10.4

Hong Kong 127.6 0.7 122.4 -4.1 140.9 15.1 152.5 8.2 161.9 6.2 169.0 4.4 176.0 4.1

Indonesia 48.5 11.3 42.4 -12.6 52.0 22.6 58.6 12.8 64.3 9.7 69.1 7.5 74.1 7.2

India 215.8 6.5 204.4 -5.3 242.2 18.5 273.9 13.1 304.6 11.2 333.8 9.6 364.5 9.2

Japon 677.6 6.2 753.4 11.2 777.9 3.3 826.9 6.3 894.3 8.2 951.4 6.4 1,009.7 6.1

South Korea 329.9 7.4 293.8 -10.9 345.2 17.5 385.7 11.7 421.9 9.4 453.4 7.5 486.2 7.2

Malaysia 60.8 -7.4 52.6 -13.4 66.3 26.1 75.7 14.1 82.4 8.9 87.9 6.6 93.5 6.4

Philippines 32.5 17.1 30.9 -4.8 36.9 19.5 42.4 14.8 47.0 10.9 51.2 9.0 55.7 8.7

Singapore 112.7 8.0 97.1 -13.9 110.3 13.6 121.9 10.5 135.2 11.0 145.7 7.8 156.5 7.4

Thailand 78.4 8.3 86.9 10.9 105.1 20.9 118.0 12.3 129.8 10.0 139.7 7.7 150.1 7.4

Taiwan 115.2 -1.6 117.3 1.8 154.3 31.6 187.7 21.6 208.6 11.1 228.2 9.4 248.4 8.9

North Africa 502.3 11.4 481.9 -4.1 516.9 7.3 565.3 9.4 619.6 9.6 665.0 7.3 712.4 7.1

Algeria 108.7 43.9 98.7 -9.2 99.1 0.4 103.8 4.7 112.2 8.1 119.6 6.6 127.2 6.3

Egypt 252.2 0.2 237.5 -5.9 239.9 1.0 255.9 6.7 280.1 9.5 300.2 7.2 321.1 7.0

Libya 52.0 10.1 65.4 25.9 69.2 5.8 74.8 8.1 81.9 9.4 88.3 7.9 95.2 7.8

Tunisia 89.4 17.3 80.3 -10.2 108.7 35.5 130.8 20.3 145.4 11.1 156.9 7.9 168.9 7.7

Sub-saharan Africa 185.3 5.5 181.3 -2.2 208.6 15.1 234.7 12.5 254.9 8.6 271.8 6.6 288.1 6.0

Angola 4.1 65.2 2.2 -46.4 2.0 -8.8 2.2 7.5 2.4 10.1 2.6 7.9 2.8 7.6

Nigeria 55.9 25.5 44.9 -19.7 52.8 17.6 59.3 12.2 63.5 7.2 67.4 6.0 71.3 5.9

South Africa 125.3 -2.6 134.2 7.1 153.8 14.7 173.2 12.6 189.0 9.1 201.8 6.7 214.0 6.1

Middle east 346.8 20.3 286.9 -17.3 288.3 0.5 303.7 5.3 326.9 7.6 350.6 7.2 377.6 7.7

Qatar 26.9 54.0 22.2 -17.5 22.4 1.0 24.2 7.9 26.6 10.1 28.4 6.6 30.2 6.3

Saudi Arabia 158.9 24.0 141.3 -11.1 147.0 4.1 157.0 6.8 167.1 6.5 177.7 6.3 190.7 7.3

UAE 161.0 12.9 123.4 -23.3 118.9 -3.6 122.5 3.0 133.2 8.7 144.5 8.5 156.7 8.4

94

Table 2.3.c Value of exports of rubber and plastic by destination country (values in millions of euro and % changes)

2008 2009 2010 2011 2012 2013 2014


World 18,252.2 -3.6 14,557.4 -20.2 16,762.8 15.1 18,354.2 9.5 19,844.2 8.1 21,104.6 6.4 22,407.3 6.2

EU 15 10,639.8 -7.6 8,456.0 -20.5 9,485.4 12.2 10,323.9 8.8 11,075.4 7.3 11,679.8 5.5 12,295.7 5.3

Austria 478.0 -5.3 362.3 -24.2 400.1 10.4 436.7 9.2 464.6 6.4 486.7 4.8 507.9 4.3

Belgium 524.1 -6.5 443.1 -15.4 502.1 13.3 553.7 10.3 598.7 8.1 630.8 5.4 663.1 5.1

Germany 3,110.7 -3.7 2,456.6 -21.0 2,890.4 17.7 3,179.1 10.0 3,438.6 8.2 3,664.3 6.6 3,896.1 6.3

Denmark 115.6 -6.2 87.6 -24.3 94.6 8.0 103.0 8.9 110.0 6.8 115.1 4.6 119.4 3.8

Spain 1,419.0 -14.4 1,129.0 -20.4 1,230.6 9.0 1,301.4 5.8 1,367.1 5.1 1,413.6 3.4 1,459.4 3.2

Finland 111.7 2.2 75.5 -32.4 80.4 6.5 89.1 10.8 97.3 9.2 103.9 6.9 110.8 6.6

France 2,532.4 -7.8 2,077.8 -18.0 2,358.1 13.5 2,574.5 9.2 2,768.1 7.5 2,919.5 5.5 3,076.3 5.4

United Kindom 861.8 -16.2 669.6 -22.3 766.5 14.5 829.7 8.3 877.3 5.7 913.3 4.1 949.4 3.9

Greece 487.1 -1.8 354.4 -27.3 321.1 -9.4 334.0 4.0 355.3 6.4 371.5 4.6 387.5 4.3

Ireland 66.8 -13.4 42.8 -35.8 37.5 -12.4 39.5 5.2 43.0 8.9 46.2 7.5 49.5 7.2

Netherland 483.6 -5.6 408.7 -15.5 445.8 9.1 491.5 10.3 532.1 8.3 565.2 6.2 599.2 6.0

Portugal 200.0 -5.3 165.5 -17.2 149.5 -9.6 161.0 7.7 173.5 7.8 183.8 5.9 194.4 5.8

Sweden 249.0 -1.1 183.1 -26.5 208.7 14.0 230.7 10.5 249.8 8.3 265.9 6.4 282.7 6.3

Other EU 1,832.7 2.9 1,453.1 -20.7 1,594.2 9.7 1,776.7 11.4 1,944.6 9.5 2,089.7 7.5 2,241.1 7.2

Bulgaria 99.1 10.0 69.7 -29.7 69.0 -0.9 75.2 8.9 82.6 9.9 88.7 7.5 95.2 7.3

Czech Republic 306.4 -0.4 258.3 -15.7 286.2 10.8 317.3 10.9 345.2 8.8 369.6 7.1 395.2 6.9

Hungary 237.3 -4.8 188.8 -20.4 212.8 12.7 234.8 10.3 255.8 8.9 274.5 7.3 293.9 7.1

Poland 691.3 4.9 578.9 -16.3 612.8 5.8 677.8 10.6 731.6 7.9 775.2 6.0 819.7 5.7

Slovakia 158.2 3.1 123.8 -21.7 144.3 16.5 161.1 11.6 177.3 10.0 191.1 7.8 205.3 7.4

Romania 340.4 6.1 233.6 -31.4 269.1 15.2 310.5 15.4 352.1 13.4 390.6 10.9 431.8 10.5

Other Europe 1,640.1 4.1 1,263.4 -23.0 1,460.1 15.6 1,636.8 12.1 1,788.1 9.2 1,917.4 7.2 2,050.5 6.9

Belarus 12.3 24.2 9.0 -26.7 9.0 -1.0 9.6 7.0 10.2 6.7 10.9 6.2 11.6 6.6

Croatia 142.5 6.0 113.9 -20.1 107.4 -5.6 113.7 5.9 122.9 8.0 131.5 7.0 140.0 6.5

Russia 300.0 6.6 176.9 -41.0 199.8 13.0 220.0 10.1 237.3 7.9 254.0 7.0 271.3 6.8

Ukraine 73.9 2.6 50.7 -31.4 47.7 -5.9 49.7 4.2 54.3 9.1 58.2 7.3 62.3 7.1

Turkey 487.4 4.6 404.4 -17.0 524.5 29.7 616.1 17.5 684.4 11.1 741.5 8.3 800.2 7.9

Norway 66.5 8.5 51.6 -22.3 51.0 -1.1 54.2 6.1 58.6 8.2 62.3 6.4 66.2 6.1

Switzerland 557.5 1.3 456.9 -18.0 520.7 14.0 573.5 10.1 620.4 8.2 659.0 6.2 698.9 6.0

North America 593.6 -5.6 433.9 -26.9 494.0 13.9 543.9 10.1 583.9 7.4 619.0 6.0 656.6 6.1

Canada 70.3 -2.6 50.2 -28.5 55.5 10.5 59.9 8.0 63.1 5.3 65.7 4.2 68.3 3.9

United States 523.3 -6.0 383.7 -26.7 438.5 14.3 484.0 10.4 520.8 7.6 553.3 6.2 588.3 6.3

95

2008 2009 2010 2011 2012 2013 2014


World 18,252.2 -3.6 14,557.4 -20.2 16,762.8 15.1 18,354.2 9.5 19,844.2 8.1 21,104.6 6.4 22,407.3 6.2

Latin America 271.0 3.9 196.7 -27.4 256.4 30.4 298.1 16.3 331.5 11.2 360.6 8.8 390.9 8.4

Argentina 40.7 17.2 25.0 -38.6 38.5 53.8 41.8 8.8 45.2 8.1 48.2 6.6 51.3 6.3

Brazil 124.9 3.6 92.3 -26.1 124.8 35.2 150.4 20.5 170.3 13.3 187.4 10.0 205.3 9.6

Chile 22.6 4.5 20.8 -8.0 24.6 18.5 28.0 13.7 31.2 11.4 33.8 8.4 36.5 8.0

Mexico 82.8 -1.2 58.6 -29.3 68.5 16.9 77.9 13.7 84.8 8.9 91.2 7.5 97.8 7.3

Asia 889.9 -5.0 767.0 -13.8 917.6 19.6 1,047.3 14.1 1,171.0 11.8 1,286.0 9.8 1,409.7 9.6

Australia 127.5 21.4 89.0 -30.2 102.7 15.4 113.4 10.4 122.3 7.9 130.3 6.6 138.6 6.3

China 228.0 -14.0 254.9 11.8 322.3 26.4 378.9 17.6 435.2 14.9 489.1 12.4 548.6 12.2

Hong Kong 91.2 -11.0 84.8 -7.0 98.5 16.1 109.5 11.1 119.6 9.3 128.5 7.4 137.7 7.2

Indonesia 23.3 10.7 17.0 -27.2 20.4 19.9 22.6 11.2 24.5 8.4 26.1 6.6 27.8 6.3

India 84.1 -0.1 92.1 9.5 110.2 19.6 127.4 15.6 145.0 13.9 162.4 12.0 181.3 11.6

Japon 93.8 -8.1 66.1 -29.5 66.8 1.1 69.6 4.2 73.1 5.1 75.5 3.2 77.7 2.9

South Korea 74.6 -18.2 42.7 -42.7 50.3 17.7 57.1 13.6 63.7 11.6 69.9 9.6 76.4 9.4

Malaysia 29.1 0.1 22.1 -24.1 27.4 24.0 31.2 14.0 34.2 9.6 36.8 7.6 39.5 7.4

Philippines 6.5 11.8 5.9 -9.3 6.9 17.3 7.8 13.3 8.5 9.0 9.1 6.8 9.7 6.5

Singapore 47.3 1.5 31.6 -33.2 35.6 12.6 39.5 10.8 43.8 11.0 47.2 7.8 50.7 7.4

Thailand 42.7 16.8 32.4 -24.1 39.0 20.3 44.0 12.9 49.0 11.3 53.5 9.2 58.4 9.0

Taiwan 41.8 -12.7 28.4 -32.1 37.5 32.0 46.3 23.5 52.1 12.6 57.6 10.5 63.3 10.0

North Africa 370.5 13.8 329.2 -11.1 376.7 14.4 425.3 12.9 468.2 10.1 503.6 7.6 540.3 7.3

Algeria 73.7 39.1 65.4 -11.3 66.0 1.0 69.9 5.9 76.0 8.8 81.0 6.6 86.1 6.3

Egypt 107.0 13.5 90.9 -15.0 90.4 -0.5 96.3 6.5 105.5 9.5 113.5 7.6 121.4 7.0

Libya 45.4 23.4 39.6 -12.9 41.6 5.1 44.8 7.9 49.0 9.2 52.7 7.6 56.8 7.8

Tunisia 144.4 2.0 133.3 -7.7 178.7 34.1 214.3 19.9 237.7 10.9 256.4 7.9 276.0 7.7


Angola 3.0 -37.3 9.8 225.5 8.8 -9.9 9.5 7.6 10.4 10.1 11.2 7.8 12.1 7.6

Nigeria 35.8 -11.9 25.9 -27.7 30.7 18.5 34.8 13.5 37.6 7.9 39.8 6.0 42.2 5.9

South Africa 64.6 -4.8 53.9 -16.6 60.1 11.6 66.8 11.1 72.4 8.5 77.3 6.7 82.0 6.1

Middle east 232.8 18.7 205.3 -11.8 203.3 -1.0 212.9 4.7 229.2 7.7 245.8 7.2 264.8 7.7

Qatar 20.1 45.4 16.9 -15.8 16.7 -1.4 17.8 6.6 19.4 8.9 20.7 6.6 22.0 6.3

Saudi Arabia 102.3 12.7 92.9 -9.2 95.6 2.9 101.7 6.4 108.5 6.7 115.3 6.3 123.8 7.3

UAE 110.4 20.8 95.5 -13.5 91.0 -4.8 93.4 2.7 101.3 8.4 109.8 8.5 119.0 8.4

96

Table 2.3.d Value of exports of metals by destination country (values in millions of euro and % changes)

2008 2009 2010 2011 2012 2013 2014


World 41,749.1 1.9 27,515.6 -34.1 31,480.7 14.4 34,219.5 8.7 36,751.8 7.4 39,030.4 6.2 41,411.8 6.1

EU 15 23,172.3 -3.4 14,409.2 -37.8 15,976.2 10.9 17,309.5 8.3 18,528.9 7.0 19,573.8 5.6 20,658.0 5.5

Austria 1,504.0 -3.2 934.0 -37.9 1,032.1 10.5 1,125.4 9.0 1,198.3 6.5 1,260.4 5.2 1,322.7 4.9

Belgium 860.9 3.6 589.0 -31.6 619.1 5.1 655.7 5.9 674.5 2.9 681.3 1.0 686.7 0.8

Germany 7,691.7 3.9 4,471.2 -41.9 5,244.9 17.3 5,800.4 10.6 6,304.7 8.7 6,747.9 7.0 7,208.8 6.8

Denmark 297.0 -17.2 168.4 -43.3 181.4 7.7 198.1 9.2 211.1 6.6 220.8 4.6 229.2 3.8

Spain 2,834.4 -12.8 1,680.1 -40.7 1,815.1 8.0 1,889.1 4.1 1,988.6 5.3 2,080.0 4.6 2,176.9 4.7

Finland 222.3 1.2 120.9 -45.6 125.5 3.9 137.2 9.3 147.4 7.4 155.0 5.2 162.8 5.0

France 5,505.5 -2.7 3,680.4 -33.2 4,116.4 11.8 4,474.8 8.7 4,801.2 7.3 5,074.4 5.7 5,360.6 5.6

United Kindom 1,588.3 -13.7 1,020.1 -35.8 1,143.6 12.1 1,220.0 6.7 1,270.8 4.2 1,308.2 2.9 1,346.5 2.9

Greece 716.8 -9.9 443.3 -38.2 389.8 -12.1 396.2 1.6 418.0 5.5 445.6 6.6 477.7 7.2

Ireland 98.5 -27.9 89.3 -9.3 76.0 -14.9 79.7 4.8 86.7 8.8 93.0 7.3 99.7 7.2

Netherland 950.2 0.0 630.7 -33.6 658.1 4.3 715.1 8.7 767.4 7.3 812.1 5.8 855.1 5.3

Portugal 441.0 0.2 337.7 -23.4 303.6 -10.1 324.9 7.0 348.7 7.3 368.2 5.6 388.5 5.5

Sweden 461.7 -15.2 244.1 -47.1 270.6 10.8 292.9 8.2 311.5 6.3 326.9 5.0 342.8 4.9

Other EU 3,817.0 6.3 2,463.9 -35.4 2,675.3 8.6 2,949.6 10.3 3,204.7 8.6 3,430.1 7.0 3,664.0 6.8

Bulgaria 161.3 7.9 85.0 -47.3 83.2 -2.1 90.2 8.4 99.8 10.7 108.6 8.8 118.0 8.7

Czech Republic 661.5 -3.4 405.9 -38.6 448.5 10.5 500.6 11.6 550.3 9.9 595.3 8.2 642.7 8.0

Hungary 620.2 11.6 366.0 -41.0 410.6 12.2 453.1 10.4 494.8 9.2 534.0 7.9 575.3 7.7

Poland 1,213.1 7.3 893.6 -26.3 930.6 4.1 1,018.8 9.5 1,098.0 7.8 1,167.2 6.3 1,238.3 6.1

Slovakia 361.5 12.8 231.2 -36.0 266.2 15.1 292.5 9.9 318.0 8.7 339.2 6.7 360.7 6.4

Romania 799.4 6.9 482.2 -39.7 536.2 11.2 594.4 10.8 643.8 8.3 685.8 6.5 729.0 6.3

Other Europe 3,449.4 3.9 2,348.8 -31.9 2,597.6 10.6 2,830.3 9.0 3,022.4 6.8 3,172.4 5.0 3,332.7 5.1

Belarus 27.5 6.3 21.7 -21.0 21.4 -1.4 22.8 6.7 24.3 6.4 25.8 6.2 27.5 6.5

Croatia 450.9 20.1 338.9 -24.8 319.7 -5.7 338.8 6.0 367.1 8.3 393.7 7.2 421.2 7.0

Russia 640.5 1.8 383.0 -40.2 430.8 12.5 475.8 10.4 513.9 8.0 549.8 7.0 587.2 6.8

Ukraine 136.1 15.9 72.8 -46.5 66.5 -8.5 68.2 2.6 74.0 8.4 79.3 7.2 84.9 7.1

Turkey 759.6 6.5 568.4 -25.2 718.9 26.5 819.8 14.0 895.1 9.2 958.8 7.1 1,028.1 7.2

Norway 245.7 3.0 156.7 -36.2 155.9 -0.5 165.5 6.2 179.4 8.4 191.3 6.6 203.6 6.4

Switzerland 1,189.1 -2.5 807.3 -32.1 884.4 9.6 939.4 6.2 968.6 3.1 973.7 0.5 980.2 0.7

North America 1,598.4 -4.9 1,063.8 -33.4 1,188.6 11.7 1,315.8 10.7 1,451.9 10.3 1,606.0 10.6 1,771.5 10.3

Canada 174.0 15.4 86.2 -50.4 93.0 7.9 99.4 6.9 102.1 2.7 103.6 1.5 105.0 1.4

United States 1,424.4 -6.9 977.6 -31.4 1,095.6 12.1 1,216.4 11.0 1,349.8 11.0 1,502.4 11.3 1,666.5 10.9

97

2008 2009 2010 2011 2012 2013 2014


World 41,749.1 1.9 27,515.6 -34.1 31,480.7 14.4 34,219.5 8.7 36,751.8 7.4 39,030.4 6.2 41,411.8 6.1

Latin America 850.3 1.8 518.7 -39.0 659.7 27.2 759.8 15.2 836.7 10.1 901.7 7.8 970.6 7.6

Argentina 57.2 -3.2 44.4 -22.2 67.4 51.7 72.4 7.4 76.4 5.6 78.9 3.3 81.2 2.9

Brazil 250.3 41.9 180.5 -27.9 239.8 32.8 285.5 19.1 320.8 12.3 353.4 10.2 388.4 9.9

Chile 43.6 36.0 37.6 -13.7 51.0 35.6 57.3 12.3 63.1 10.1 67.7 7.4 72.6 7.1

Mexico 499.2 -12.0 256.2 -48.7 301.5 17.7 344.6 14.3 376.4 9.2 401.7 6.7 428.4 6.6

Asia 2,059.3 6.2 1,820.7 -11.6 2,149.9 18.1 2,433.0 13.2 2,687.6 10.5 2,913.1 8.4 3,153.7 8.3

Australia 198.3 6.2 142.4 -28.2 166.3 16.8 186.4 12.1 202.8 8.8 216.0 6.5 229.6 6.3

China 646.0 3.8 619.1 -4.2 765.7 23.7 881.7 15.1 986.0 11.8 1,080.9 9.6 1,183.9 9.5

Hong Kong 81.4 -1.6 57.6 -29.3 65.2 13.2 71.7 10.0 78.0 8.8 83.5 7.0 89.2 6.9

Indonesia 47.5 28.2 32.5 -31.6 38.4 18.0 42.2 10.1 45.3 7.2 47.5 5.0 49.9 4.9

India 360.8 -12.8 376.8 4.4 442.8 17.5 499.0 12.7 551.6 10.5 600.0 8.8 651.0 8.5

Japon 122.0 33.4 80.6 -33.9 71.8 -10.9 74.3 3.4 79.0 6.4 82.6 4.6 86.6 4.8

South Korea 182.7 4.8 136.6 -25.2 157.0 14.9 177.2 12.8 195.6 10.4 212.1 8.5 229.8 8.3

Malaysia 63.9 62.2 42.1 -34.0 50.1 18.8 55.3 10.5 59.3 7.2 62.8 5.9 66.3 5.7

Philippines 15.8 -15.0 15.5 -2.1 18.4 18.6 21.5 17.3 24.2 12.5 26.6 9.7 29.1 9.5

Singapore 180.6 38.8 138.6 -23.2 154.8 11.7 170.3 10.0 187.9 10.4 201.5 7.2 215.8 7.1

Thailand 108.0 15.4 92.9 -14.0 108.6 16.9 118.9 9.5 129.1 8.5 138.0 7.0 147.4 6.8

Taiwan 52.3 8.2 86.0 64.6 110.8 28.7 134.5 21.5 148.8 10.6 161.6 8.6 175.1 8.3

North Africa 2,026.7 69.1 1,426.6 -29.6 1,502.8 5.3 1,606.0 6.9 1,725.9 7.5 1,833.0 6.2 1,950.7 6.4

Algeria 1,173.9 103.0 632.8 -46.1 630.7 -0.3 658.7 4.5 709.6 7.7 753.6 6.2 800.0 6.2

Egypt 399.3 63.6 313.1 -21.6 297.8 -4.9 303.3 1.9 321.1 5.9 340.2 5.9 361.9 6.4

Libya 108.4 14.2 181.9 67.8 186.0 2.3 195.5 5.1 209.8 7.3 222.3 6.0 236.0 6.2

Tunisia 345.1 22.8 298.8 -13.4 388.3 30.0 448.5 15.5 485.4 8.2 516.9 6.5 552.8 6.9


Angola 32.6 -14.6 63.1 93.7 55.8 -11.6 58.7 5.2 63.6 8.3 68.2 7.3 73.2 7.3

Nigeria 100.7 -28.7 90.7 -10.0 101.8 12.3 109.6 7.7 114.3 4.3 119.5 4.5 125.6 5.1

South Africa 116.3 29.3 65.3 -43.9 71.2 9.0 78.4 10.1 84.5 7.9 89.8 6.3 95.1 5.8

Middle east 1,280.5 5.9 780.3 -39.1 768.8 -1.5 809.0 5.2 872.5 7.8 930.4 6.6 997.5 7.2

Qatar 348.3 20.9 194.2 -44.2 192.5 -0.9 206.1 7.0 225.4 9.4 240.2 6.5 255.4 6.3

Saudi Arabia 417.5 -13.7 297.1 -28.9 308.1 3.7 330.1 7.2 352.2 6.7 373.8 6.1 401.0 7.3

UAE 514.7 17.7 289.0 -43.9 268.2 -7.2 272.8 1.7 294.9 8.1 316.4 7.3 341.1 7.8

98

Table 2.4 Value of exports of capital goods by destination country (values in millions of euro and % changes)

2008 2009 2010 2011 2012 2013 2014


World 150,638.0 0.4 118,729.8 -21.2 131,114.6 10.4 143,148.6 9.2 152,416.9 6.5 163,079.9 7.0 174,120.3 6.8

EU 15 68,877.7 -5.5 50,916.7 -26.1 54,671.6 7.4 58,775.2 7.5 62,459.5 6.3 66,041.9 5.7 69,478.2 5.2

Austria 3,024.0 -2.0 2,351.7 -22.2 2,490.2 5.9 2,682.0 7.7 2,854.2 6.4 3,023.3 5.9 3,193.5 5.6

Belgium 3,306.2 -1.4 2,439.3 -26.2 2,599.1 6.6 2,799.5 7.7 2,986.2 6.7 3,170.8 6.2 3,359.4 5.9

Germany 18,626.7 -0.7 14,095.0 -24.3 15,505.0 10.0 16,719.7 7.8 17,773.9 6.3 18,759.1 5.5 19,640.7 4.7

Denmark 1,101.6 -7.1 607.4 -44.9 629.6 3.7 686.9 9.1 724.2 5.4 759.0 4.8 789.5 4.0

Spain 8,901.0 -18.7 5,668.7 -36.3 6,108.5 7.8 6,478.4 6.1 6,820.5 5.3 7,182.3 5.3 7,579.0 5.5

Finland 875.0 -24.6 569.4 -34.9 589.4 3.5 641.1 8.8 689.0 7.5 737.1 7.0 786.2 6.7

France 16,001.0 -1.9 12,383.3 -22.6 13,331.8 7.7 14,427.8 8.2 15,436.4 7.0 16,428.8 6.4 17,431.3 6.1

United Kindom 7,753.1 -9.8 5,499.1 -29.1 6,088.8 10.7 6,517.5 7.0 6,879.5 5.6 7,218.2 4.9 7,517.2 4.1

Greece 2,303.0 -0.6 1,629.1 -29.3 1,526.1 -6.3 1,572.0 3.0 1,649.5 4.9 1,733.3 5.1 1,794.2 3.5

Ireland 501.1 -31.2 257.4 -48.6 244.4 -5.0 252.9 3.5 268.4 6.1 283.2 5.5 296.7 4.8

Netherland 3,031.9 -0.9 2,267.3 -25.2 2,468.8 8.9 2,685.8 8.8 2,875.7 7.1 3,059.4 6.4 3,227.3 5.5

Portugal 1,433.6 5.8 1,898.3 32.4 1,705.4 -10.2 1,821.2 6.8 1,916.0 5.2 2,007.8 4.8 2,089.5 4.1

Sweden 2,019.5 1.7 1,250.7 -38.1 1,384.5 10.7 1,490.4 7.6 1,586.0 6.4 1,679.6 5.9 1,773.7 5.6

Other EU 12,734.6 6.8 8,629.7 -32.2 9,174.6 6.3 10,044.6 9.5 10,871.2 8.2 11,701.2 7.6 12,542.0 7.2

Bulgaria 896.7 14.3 424.0 -52.7 420.6 -0.8 466.1 10.8 509.8 9.4 549.3 7.7 590.0 7.4

Czech Republic 1,788.8 5.8 1,221.1 -31.7 1,349.9 10.5 1,485.0 10.0 1,607.0 8.2 1,730.7 7.7 1,855.8 7.2

Hungary 1,483.2 -6.0 873.8 -41.1 944.9 8.1 1,028.6 8.9 1,106.5 7.6 1,186.1 7.2 1,268.7 7.0

Poland 5,281.8 11.5 4,218.2 -20.1 4,430.9 5.0 4,851.6 9.5 5,244.1 8.1 5,640.5 7.6 6,049.4 7.2

Slovakia 960.6 3.7 700.0 -27.1 776.3 10.9 848.7 9.3 913.9 7.7 979.3 7.1 1,042.2 6.4

Romania 2,323.5 5.2 1,192.6 -48.7 1,252.0 5.0 1,364.6 9.0 1,489.9 9.2 1,615.3 8.4 1,735.9 7.5

Other Europe 13,858.5 6.6 9,902.3 -28.5 11,132.1 12.4 12,108.5 8.8 13,054.6 7.8 13,971.4 7.0 14,894.1 6.6

Belarus 291.4 64.9 230.9 -20.7 230.4 -0.2 238.9 3.7 248.2 3.9 262.3 5.7 280.7 7.0

Croatia 902.0 12.3 729.4 -19.1 669.7 -8.2 699.1 4.4 757.0 8.3 806.8 6.6 862.3 6.9

Russia 4,400.6 7.9 2,499.0 -43.2 2,791.9 11.7 3,002.3 7.5 3,242.8 8.0 3,455.6 6.6 3,670.6 6.2

Ukraine 914.2 16.0 407.2 -55.5 382.5 -6.1 395.0 3.3 425.0 7.6 455.3 7.1 486.6 6.9

Turkey 3,272.0 -6.2 2,525.4 -22.8 3,178.7 25.9 3,627.2 14.1 3,953.2 9.0 4,283.8 8.4 4,605.6 7.5

Norway 900.4 25.4 592.1 -34.2 613.4 3.6 646.5 5.4 682.2 5.5 716.1 5.0 747.8 4.4

Switzerland 3,177.9 7.7 2,918.3 -8.2 3,265.5 11.9 3,499.5 7.2 3,746.2 7.0 3,991.5 6.5 4,240.5 6.2

North America 10,768.6 -1.8 8,376.8 -22.2 9,346.4 11.6 9,931.6 6.3 10,582.8 6.6 11,237.3 6.2 11,895.2 5.9

Canada 913.4 -4.6 728.8 -20.2 786.8 8.0 818.5 4.0 873.6 6.7 928.8 6.3 985.7 6.1

United States 9,855.2 -1.6 7,648.0 -22.4 8,559.6 11.9 9,113.1 6.5 9,709.2 6.5 10,308.5 6.2 10,909.5 5.8

99

2008 2009 2010 2011 2012 2013 2014


World 150,638.0 0.4 118,729.8 -21.2 131,114.6 10.4 143,148.6 9.2 152,416.9 6.5 163,079.9 7.0 174,120.3 6.8

Latin America 4,385.6 13.5 3,424.7 -21.9 4,166.5 21.7 4,619.1 10.9 5,027.7 8.8 5,435.5 8.1 5,821.2 7.1

Argentina 586.8 1.9 376.1 -35.9 477.6 27.0 528.4 10.6 563.0 6.5 596.7 6.0 628.0 5.2

Brazil 2,248.7 32.9 1,865.7 -17.0 2,338.2 25.3 2,635.8 12.7 2,892.9 9.8 3,147.9 8.8 3,387.9 7.6

Chile 346.3 -3.1 333.7 -3.7 403.7 21.0 436.8 8.2 466.6 6.8 497.5 6.6 526.8 5.9

Mexico 1,203.8 -3.0 849.2 -29.5 947.0 11.5 1,018.1 7.5 1,105.2 8.6 1,193.4 8.0 1,278.5 7.1

Asia 13,138.1 2.8 12,136.5 -7.6 13,811.8 13.8 15,164.8 9.8 16,459.6 8.5 17,760.2 7.9 19,003.9 7.0

Australia 1,483.6 1.4 1,238.5 -16.5 1,391.5 12.3 1,491.6 7.2 1,578.4 5.8 1,664.0 5.4 1,750.7 5.2

China 3,800.8 1.2 4,054.8 6.7 4,719.9 16.4 5,251.2 11.3 5,792.2 10.3 6,336.9 9.4 6,836.2 7.9

Hong Kong 719.4 -2.9 595.8 -17.2 661.7 11.1 720.3 8.9 776.8 7.8 827.7 6.6 879.3 6.2

Indonesia 373.1 7.3 286.7 -23.2 348.8 21.7 392.5 12.5 427.6 8.9 463.5 8.4 498.5 7.5

India 1,982.4 5.3 1,691.5 -14.7 1,946.0 15.1 2,155.6 10.8 2,360.0 9.5 2,570.1 8.9 2,771.9 7.9

Japon 1,151.4 7.1 899.2 -21.9 901.8 0.3 926.3 2.7 972.4 5.0 1,017.8 4.7 1,064.0 4.5

South Korea 1,161.5 9.3 1,010.4 -13.0 1,146.6 13.5 1,231.2 7.4 1,320.1 7.2 1,408.9 6.7 1,499.2 6.4

Malaysia 459.4 -7.0 531.2 15.6 641.8 20.8 703.1 9.6 751.1 6.8 798.9 6.4 843.1 5.5

Philippines 141.0 34.0 107.7 -23.6 122.7 13.9 131.1 6.8 140.5 7.2 149.7 6.6 157.9 5.4

Singapore 911.5 -11.5 948.7 4.1 1,040.3 9.7 1,189.5 14.3 1,290.5 8.5 1,393.8 8.0 1,500.6 7.7

Thailand 564.5 35.7 426.9 -24.4 491.0 15.0 536.6 9.3 577.6 7.6 619.0 7.2 657.6 6.2

Taiwan 389.5 -4.2 345.1 -11.4 399.7 15.8 435.8 9.0 472.4 8.4 509.9 7.9 544.9 6.9

North Africa 4,398.2 35.1 4,541.7 3.3 4,860.6 7.0 5,204.1 7.1 5,658.4 8.7 6,112.9 8.0 6,582.3 7.7

Algeria 1,297.9 61.9 1,437.7 10.8 1,485.9 3.3 1,598.0 7.5 1,727.6 8.1 1,849.9 7.1 1,975.2 6.8

Egypt 1,456.5 28.7 1,447.0 -0.7 1,573.9 8.8 1,666.0 5.9 1,834.5 10.1 2,006.9 9.4 2,184.8 8.9

Libya 819.4 66.8 970.4 18.4 1,020.3 5.1 1,095.8 7.4 1,180.0 7.7 1,264.9 7.2 1,351.8 6.9

Tunisia 824.4 -0.7 686.6 -16.7 780.5 13.7 844.3 8.2 916.3 8.5 991.2 8.2 1,070.5 8.0

Sub-saharan Africa 1,350.1 -3.3 1,394.9 3.3 1,478.9 6.0 1,582.4 7.0 1,697.5 7.3 1,812.9 6.8 1,927.6 6.3

Angola 104.1 25.7 342.7 229.1 292.5 -14.6 299.0 2.2 321.3 7.5 343.7 7.0 366.6 6.7

Nigeria 414.8 3.1 472.9 14.0 537.5 13.7 579.6 7.8 623.0 7.5 667.1 7.1 713.6 7.0

South Africa 831.2 -8.8 579.3 -30.3 648.9 12.0 703.8 8.5 753.2 7.0 802.1 6.5 847.4 5.7

Middle east 5,298.7 1.8 3,910.8 -26.2 3,800.6 -2.8 3,961.6 4.2 4,252.6 7.3 4,552.7 7.1 4,860.3 6.8

Qatar 968.9 -19.4 822.3 -15.1 832.5 1.2 882.3 6.0 957.1 8.5 1,032.7 7.9 1,110.1 7.5

Saudi Arabia 1,927.5 9.6 1,346.5 -30.1 1,373.6 2.0 1,437.5 4.7 1,528.2 6.3 1,617.9 5.9 1,708.5 5.6

UAE 2,402.3 7.1 1,742.0 -27.5 1,594.5 -8.5 1,641.8 3.0 1,767.3 7.6 1,902.1 7.6 2,041.7 7.3

100

Table 2.4.a Value of exports of mechanical engineering by destination country (values in millions of euro and % changes)

2008 2009 2010 2011 2012 2013 2014


World 79,752.1 1.2 62,694.7 -21.4 68,399.9 9.1 74,419.1 8.8 80,372.6 8.0 86,320.2 7.4 92,535.3 7.2

EU 15 32,213.6 -6.1 23,267.2 -27.8 24,403.4 4.9 26,249.6 7.6 27,841.5 6.1 29,394.0 5.6 30,878.6 5.1

Austria 1,488.5 -3.9 1,188.7 -20.1 1,242.1 4.5 1,349.4 8.6 1,445.5 7.1 1,541.2 6.6 1,638.6 6.3

Belgium 1,634.9 -5.9 1,208.2 -26.1 1,255.3 3.9 1,347.2 7.3 1,428.2 6.0 1,508.1 5.6 1,588.9 5.4

Germany 8,173.3 -1.0 6,173.5 -24.5 6,604.6 7.0 7,117.6 7.8 7,527.0 5.8 7,905.5 5.0 8,236.6 4.2

Denmark 625.0 -7.2 343.5 -45.0 352.9 2.7 385.8 9.3 406.5 5.4 425.9 4.8 442.9 4.0

Spain 4,083.5 -21.9 2,580.6 -36.8 2,697.4 4.5 2,842.8 5.4 2,968.7 4.4 3,100.5 4.4 3,244.7 4.7

Finland 552.3 5.5 374.5 -32.2 382.9 2.3 414.4 8.2 443.3 7.0 472.2 6.5 501.4 6.2

France 6,962.5 -2.2 5,261.5 -24.4 5,546.1 5.4 6,061.9 9.3 6,530.1 7.7 7,001.0 7.2 7,482.6 6.9

United Kindom 3,692.7 -11.1 2,477.8 -32.9 2,649.2 6.9 2,814.0 6.2 2,938.7 4.4 3,052.0 3.9 3,146.4 3.1

Greece 1,167.5 1.1 842.6 -27.8 774.1 -8.1 792.8 2.4 824.8 4.0 859.2 4.2 881.6 2.6

Ireland 286.8 -30.9 140.8 -50.9 130.9 -7.1 136.1 3.9 145.0 6.6 153.7 6.0 161.8 5.3

Netherland 1,663.5 5.0 1,296.1 -22.1 1,392.3 7.4 1,513.6 8.7 1,617.0 6.8 1,717.3 6.2 1,808.6 5.3

Portugal 787.9 5.7 617.4 -21.6 548.8 -11.1 592.3 7.9 638.3 7.8 684.4 7.2 727.9 6.4

Sweden 1,095.2 -4.6 762.0 -30.4 826.8 8.5 881.7 6.6 928.4 5.3 973.0 4.8 1,016.6 4.5

Other EU 6,754.5 4.7 4,607.7 -31.8 4,809.1 4.4 5,296.2 10.1 5,754.2 8.6 6,216.6 8.0 6,688.5 7.6

Bulgaria 469.9 5.8 247.1 -47.4 240.3 -2.7 266.8 11.0 291.4 9.2 313.4 7.5 336.0 7.2

Czech Republic 898.0 4.3 567.6 -36.8 616.1 8.5 682.5 10.8 740.6 8.5 799.3 7.9 858.8 7.5

Hungary 742.2 -9.5 459.2 -38.1 483.1 5.2 521.0 7.8 554.9 6.5 589.7 6.3 625.4 6.0

Poland 3,003.8 12.1 2,367.9 -21.2 2,458.1 3.8 2,714.0 10.4 2,952.4 8.8 3,196.0 8.2 3,449.0 7.9

Slovakia 443.4 -1.3 351.4 -20.7 380.5 8.3 416.0 9.3 447.7 7.6 479.7 7.2 510.7 6.5

Romania 1,197.2 0.3 614.5 -48.7 631.0 2.7 695.9 10.3 767.2 10.2 838.5 9.3 908.6 8.4

Other Europe 8,508.7 5.1 5,760.5 -32.3 6,311.9 9.6 6,806.2 7.8 7,281.7 7.0 7,736.8 6.2 8,189.4 5.8

Belarus 248.6 71.0 189.1 -23.9 187.4 -0.9 194.0 3.5 201.3 3.8 212.4 5.5 227.0 6.9

Croatia 393.0 2.2 350.3 -10.9 316.6 -9.6 332.8 5.1 361.9 8.8 387.3 7.0 415.6 7.3

Russia 3,188.9 7.9 1,894.1 -40.6 2,095.8 10.6 2,247.7 7.2 2,420.4 7.7 2,571.9 6.3 2,724.1 5.9

Ukraine 732.9 15.3 318.8 -56.5 296.6 -6.9 305.6 3.0 328.2 7.4 351.1 7.0 374.7 6.7

Turkey 1,850.8 -11.8 1,349.1 -27.1 1,655.1 22.7 1,869.1 12.9 2,016.3 7.9 2,167.6 7.5 2,311.9 6.7

Norway 531.3 27.8 386.8 -27.2 395.3 2.2 415.8 5.2 437.5 5.2 458.0 4.7 476.9 4.1

Switzerland 1,563.2 7.1 1,272.3 -18.6 1,365.1 7.3 1,441.2 5.6 1,516.1 5.2 1,588.5 4.8 1,659.2 4.4

North America 5,561.6 -1.5 4,229.0 -24.0 4,610.3 9.0 4,897.1 6.2 5,207.3 6.3 5,519.8 6.0 5,833.8 5.7

Canada 643.8 -2.5 496.6 -22.9 530.6 6.8 551.5 3.9 586.8 6.4 622.2 6.0 659.1 5.9

United States 4,917.8 -1.4 3,732.4 -24.1 4,079.7 9.3 4,345.6 6.5 4,620.5 6.3 4,897.6 6.0 5,174.7 5.7

101

2008 2009 2010 2011 2012 2013 2014


World 79,752.1 1.2 62,694.7 -21.4 68,399.9 9.1 74,419.1 8.8 80,372.6 8.0 86,320.2 7.4 92,535.3 7.2

Latin America 2,749.7 13.6 2,146.9 -21.9 2,571.2 19.8 2,847.2 10.7 3,094.5 8.7 3,341.6 8.0 3,575.4 7.0

Argentina 394.2 4.1 261.6 -33.6 327.9 25.3 361.8 10.4 384.5 6.3 406.4 5.7 426.5 4.9

Brazil 1,239.0 30.7 1,047.8 -15.4 1,297.8 23.9 1,468.0 13.1 1,613.0 9.9 1,757.2 8.9 1,893.3 7.7

Chile 240.0 -2.6 235.7 -1.8 281.8 19.5 304.7 8.1 324.9 6.6 346.0 6.5 365.9 5.7

Mexico 876.5 3.4 601.8 -31.3 663.7 10.3 712.7 7.4 772.1 8.3 832.0 7.8 889.7 6.9

Asia 8,219.5 9.3 7,770.5 -5.5 8,779.1 13.0 9,668.3 10.1 10,512.3 8.7 11,361.9 8.1 12,169.1 7.1

Australia 808.4 7.5 727.6 -10.0 805.1 10.7 863.9 7.3 914.1 5.8 963.8 5.4 1,014.1 5.2

China 2,835.3 9.7 3,070.4 8.3 3,541.6 15.3 3,938.0 11.2 4,341.3 10.2 4,747.6 9.4 5,119.7 7.8

Hong Kong 355.3 2.5 270.8 -23.8 291.5 7.6 316.1 8.4 338.3 7.0 357.7 5.7 377.1 5.4

Indonesia 266.1 6.9 218.5 -17.9 264.0 20.9 297.4 12.6 324.0 8.9 351.4 8.4 378.0 7.6

India 1,376.8 2.3 1,189.4 -13.6 1,355.7 14.0 1,502.0 10.8 1,643.6 9.4 1,789.0 8.8 1,928.7 7.8

Japon 406.0 -5.2 333.9 -17.7 319.3 -4.4 323.6 1.3 332.7 2.8 340.5 2.4 348.0 2.2

South Korea 758.2 14.1 632.8 -16.5 710.4 12.3 765.2 7.7 821.5 7.4 877.4 6.8 934.5 6.5

Malaysia 240.3 14.4 260.2 8.3 306.5 17.8 333.0 8.6 351.9 5.7 370.4 5.3 386.7 4.4

Philippines 94.5 35.5 63.6 -32.7 71.1 11.8 76.2 7.1 81.9 7.4 87.5 6.8 92.4 5.7

Singapore 427.5 28.3 510.9 19.5 554.0 8.4 641.5 15.8 703.3 9.6 767.1 9.1 833.8 8.7

Thailand 435.2 42.4 308.0 -29.2 349.5 13.5 380.4 8.8 407.9 7.2 435.8 6.8 461.6 5.9

Taiwan 215.9 -6.1 184.4 -14.6 210.4 14.1 231.0 9.8 251.8 9.0 273.7 8.7 294.5 7.6

North Africa 2,842.3 32.3 2,968.3 4.4 3,123.4 5.2 3,329.6 6.6 3,615.9 8.6 3,900.3 7.9 4,192.5 7.5

Algeria 923.1 52.3 1,067.8 15.7 1,092.3 2.3 1,172.0 7.3 1,264.7 7.9 1,351.7 6.9 1,440.4 6.6

Egypt 1,081.9 24.8 1,102.9 1.9 1,188.0 7.7 1,254.8 5.6 1,379.2 9.9 1,505.9 9.2 1,636.3 8.7

Libya 410.0 97.3 454.8 10.9 466.2 2.5 497.9 6.8 535.1 7.5 572.4 7.0 610.4 6.6

Tunisia 427.3 -8.5 342.8 -19.8 376.9 9.9 404.9 7.4 436.9 7.9 470.3 7.6 505.4 7.5

Sub-saharan Africa 825.7 -0.8 915.8 10.9 949.5 3.7 1,010.5 6.4 1,079.8 6.9 1,148.9 6.4 1,217.5 6.0

Angola 66.1 12.2 262.6 297.3 222.8 -15.2 227.8 2.2 244.9 7.5 262.2 7.0 279.8 6.7

Nigeria 275.2 7.0 323.7 17.6 364.9 12.7 393.3 7.8 422.3 7.4 451.7 7.0 482.7 6.9

South Africa 484.4 -6.1 329.5 -32.0 361.8 9.8 389.4 7.6 412.6 6.0 435.0 5.4 455.0 4.6

Middle east 3,772.4 -0.9 2,690.3 -28.7 2,601.7 -3.3 2,708.2 4.1 2,900.4 7.1 3,097.8 6.8 3,299.5 6.5

Qatar 806.4 -19.9 626.2 -22.3 631.2 0.8 667.2 5.7 722.1 8.2 777.8 7.7 834.8 7.3

Saudi Arabia 1,422.5 4.1 1,001.6 -29.6 1,015.4 1.4 1,060.4 4.4 1,125.5 6.1 1,189.7 5.7 1,254.3 5.4

UAE 1,543.5 7.8 1,062.5 -31.2 955.1 -10.1 980.6 2.7 1,052.8 7.4 1,130.3 7.4 1,210.4 7.1

102

Table 2.4.b Value of exports of electrical equipment by destination country (values in millions of euro and % changes)

2008 2009 2010 2011 2012 2013 2014


World 23,514.1 -1.2 19,183.7 -18.4 21,716.0 13.2 23,735.6 9.3 25,515.7 7.5 27,276.3 6.9 29,103.8 6.7

EU 15 11,756.9 -3.2 9,078.6 -22.8 10,051.5 10.7 10,846.3 7.9 11,567.1 6.6 12,272.2 6.1 12,954.7 5.6

Austria 557.3 3.1 429.0 -23.0 463.7 8.1 495.7 6.9 523.4 5.6 549.9 5.1 576.0 4.7

Belgium 368.9 0.2 317.9 -13.8 351.5 10.5 382.9 8.9 413.1 7.9 443.1 7.2 474.1 7.0

Germany 3,446.5 0.5 2,674.2 -22.4 3,027.9 13.2 3,287.0 8.6 3,517.5 7.0 3,737.3 6.2 3,938.9 5.4

Denmark 171.9 4.7 123.4 -28.2 130.5 5.7 142.8 9.5 151.1 5.8 158.9 5.2 165.9 4.4

Spain 1,625.1 2.4 1,049.5 -35.4 1,174.1 11.9 1,260.4 7.4 1,340.3 6.3 1,425.4 6.4 1,519.2 6.6

Finland 123.1 6.1 84.1 -31.7 89.9 6.9 99.2 10.4 107.7 8.5 116.4 8.0 125.4 7.7

France 3,072.9 -11.0 2,479.1 -19.3 2,732.6 10.2 2,949.9 8.0 3,147.8 6.7 3,340.8 6.1 3,534.1 5.8

United Kindom 949.4 -12.8 747.4 -21.3 850.9 13.8 907.3 6.6 953.7 5.1 996.4 4.5 1,033.0 3.7

Greece 402.2 13.9 297.8 -26.0 289.3 -2.8 302.7 4.6 322.7 6.6 344.4 6.7 362.1 5.1

Ireland 94.1 -8.7 83.0 -11.7 81.0 -2.4 83.2 2.7 87.6 5.3 91.6 4.6 95.1 3.8

Netherland 445.7 12.8 382.3 -14.2 426.9 11.7 461.9 8.2 491.7 6.4 519.9 5.7 545.0 4.8

Portugal 199.6 -2.0 180.0 -9.8 167.3 -7.1 181.3 8.4 193.6 6.8 205.9 6.4 217.4 5.6

Sweden 300.2 -12.8 230.9 -23.1 265.9 15.2 292.0 9.8 316.9 8.5 342.2 8.0 368.5 7.7

Other EU 2,232.2 0.5 1,666.7 -25.3 1,831.6 9.9 2,004.8 9.5 2,169.1 8.2 2,332.6 7.5 2,496.8 7.0

Bulgaria 133.7 13.8 92.2 -31.0 94.1 2.0 103.1 9.6 111.4 8.1 118.6 6.4 125.8 6.1

Czech Republic 340.0 1.5 271.8 -20.1 308.8 13.6 339.7 10.0 367.6 8.2 395.9 7.7 424.5 7.2

Hungary 277.8 -15.4 204.1 -26.5 229.3 12.4 253.4 10.5 276.0 8.9 298.8 8.3 322.8 8.0

Poland 751.9 3.3 604.0 -19.7 659.1 9.1 731.5 11.0 801.5 9.6 873.8 9.0 949.9 8.7

Slovakia 240.3 2.8 170.2 -29.2 192.3 13.0 208.0 8.1 221.0 6.3 233.6 5.7 245.1 4.9

Romania 488.5 1.9 324.4 -33.6 348.0 7.3 369.1 6.1 391.6 6.1 411.9 5.2 428.7 4.1

Other Europe 1,986.7 6.2 1,603.6 -19.3 1,858.1 15.9 2,035.4 9.5 2,209.3 8.5 2,379.9 7.7 2,553.9 7.3

Belarus 16.6 35.4 22.3 34.3 23.1 3.5 24.3 5.1 25.5 4.9 27.2 6.7 29.4 8.1

Croatia 177.9 37.6 150.3 -15.5 143.6 -4.5 152.8 6.4 168.5 10.3 183.0 8.6 199.3 8.9

Russia 489.3 0.6 325.3 -33.5 374.3 15.1 404.4 8.1 438.9 8.5 470.0 7.1 501.6 6.7

Ukraine 81.7 5.9 42.2 -48.4 41.2 -2.3 43.2 4.8 46.9 8.7 50.8 8.2 54.8 7.9

Turkey 427.6 -7.0 386.0 -9.7 498.3 29.1 568.7 14.1 619.8 9.0 671.6 8.4 722.1 7.5

Norway 112.3 9.4 85.7 -23.7 91.6 6.9 97.3 6.2 103.4 6.2 109.6 6.0 115.6 5.5

Switzerland 681.3 12.9 591.8 -13.1 686.0 15.9 744.7 8.6 806.3 8.3 867.7 7.6 931.1 7.3

North America 989.0 -3.7 878.5 -11.2 1,011.1 15.1 1,080.7 6.9 1,158.1 7.2 1,236.6 6.8 1,315.5 6.4

Canada 70.7 -2.0 68.3 -3.4 76.7 12.2 81.3 6.0 88.5 8.8 95.9 8.4 102.9 7.3

United States 918.3 -3.8 810.2 -11.8 934.4 15.3 999.4 7.0 1,069.6 7.0 1,140.7 6.7 1,212.6 6.3

103

2008 2009 2010 2011 2012 2013 2014


World 23,514.1 -1.2 19,183.7 -18.4 21,716.0 13.2 23,735.6 9.3 25,515.7 7.5 27,276.3 6.9 29,103.8 6.7

Latin America 494.1 4.2 393.2 -20.4 497.6 26.6 559.3 12.4 616.6 10.2 675.3 9.5 732.7 8.5

Argentina 48.1 -14.2 47.1 -2.3 62.3 32.4 70.2 12.7 76.2 8.5 82.2 7.9 88.1 7.1

Brazil 268.9 18.6 207.6 -22.8 270.1 30.1 310.3 14.9 346.9 11.8 384.6 10.9 421.6 9.6

Chile 53.4 36.1 57.1 6.9 71.7 25.6 78.9 10.0 85.7 8.6 92.9 8.4 100.0 7.6

Mexico 123.7 -18.7 81.4 -34.2 93.5 14.8 99.9 6.9 107.8 7.9 115.6 7.3 123.0 6.4

Asia 2,188.3 -16.0 1,807.1 -17.4 2,119.1 17.3 2,332.4 10.1 2,528.9 8.4 2,725.3 7.8 2,912.4 6.9

Australia 207.2 -22.7 169.7 -18.1 195.4 15.2 210.1 7.5 223.0 6.1 235.8 5.7 248.8 5.5

China 542.1 -13.6 524.4 -3.3 629.1 20.0 701.6 11.5 775.8 10.6 850.7 9.7 919.8 8.1

Hong Kong 167.3 -8.4 122.3 -26.9 139.2 13.8 151.3 8.7 162.8 7.6 173.1 6.3 183.5 6.0

Indonesia 62.0 -5.1 39.0 -37.0 48.8 25.0 54.9 12.5 59.8 8.9 64.8 8.4 69.7 7.5

India 271.4 -6.9 255.3 -5.9 301.0 17.9 332.9 10.6 363.4 9.2 394.6 8.6 424.1 7.5

Japon 89.0 -4.9 53.6 -39.8 55.0 2.5 56.0 1.9 58.3 4.1 60.6 3.8 62.8 3.6

South Korea 165.3 2.1 140.6 -14.9 163.0 15.9 173.2 6.3 183.7 6.1 193.8 5.5 203.8 5.2

Malaysia 142.6 -34.5 99.0 -30.6 122.9 24.2 135.1 9.9 144.7 7.1 154.3 6.7 163.3 5.8

Philippines 29.9 44.6 24.9 -16.8 29.0 16.8 30.7 5.6 32.4 5.9 34.1 5.2 35.5 4.0

Singapore 330.4 -34.0 213.1 -35.5 240.2 12.7 273.2 13.7 294.7 7.9 316.4 7.4 338.5 7.0

Thailand 68.1 16.9 68.5 0.5 81.9 19.7 91.0 11.0 99.2 9.0 107.3 8.2 115.2 7.3

Taiwan 113.0 -4.0 96.7 -14.5 113.6 17.5 122.4 7.8 131.1 7.1 139.8 6.6 147.4 5.5

North Africa 877.5 70.1 772.8 -11.9 864.7 11.9 940.0 8.7 1,031.9 9.8 1,125.6 9.1 1,223.9 8.7

Algeria 246.7 173.2 221.8 -10.1 237.5 7.1 258.6 8.9 282.3 9.2 305.4 8.2 329.3 7.8

Egypt 225.1 88.1 198.9 -11.6 225.4 13.3 242.1 7.4 269.3 11.2 297.5 10.5 327.1 10.0

Libya 178.6 83.9 165.0 -7.6 180.5 9.4 196.7 9.0 213.9 8.8 231.6 8.3 250.0 7.9

Tunisia 227.1 8.9 187.1 -17.6 221.3 18.3 242.6 9.6 266.4 9.8 291.1 9.3 317.5 9.1


Angola 20.2 13.4 15.2 -24.9 13.3 -12.3 13.7 2.8 14.8 8.5 16.0 8.0 17.3 7.7

Nigeria 60.9 -1.8 65.5 7.6 77.2 17.8 84.3 9.3 91.5 8.6 99.0 8.1 107.0 8.1

South Africa 137.2 -7.5 89.1 -35.0 102.9 15.4 112.3 9.1 120.9 7.6 129.4 7.1 137.6 6.3

Middle east 646.7 -8.6 585.8 -9.4 582.3 -0.6 614.3 5.5 666.9 8.6 721.6 8.2 778.7 7.9

Qatar 81.5 -29.6 119.0 45.9 122.2 2.7 131.4 7.5 144.4 10.0 157.4 9.0 170.9 8.6

Saudi Arabia 216.5 -1.9 173.6 -19.8 181.1 4.3 191.9 6.0 206.1 7.4 220.3 6.9 235.0 6.7

UAE 348.7 -6.0 293.2 -15.9 279.0 -4.9 291.0 4.3 316.4 8.7 343.9 8.7 372.8 8.4

104

Table 2.4.c Value of exports of means of transport by destination country (values in millions of euro and % changes)

2008 2009 2010 2011 2012 2013 2014


World 38,845.8 0.2 29,052.0 -25.2 32,127.2 10.6 35,268.9 9.8 36,331.8 6.6 38,564.5 6.1 40,816.3 5.8

EU 15 21,229.4 -6.4 15,397.7 -27.5 16,706.7 8.5 17,894.4 7.1 18,997.9 6.2 20,065.0 5.6 21,082.6 5.1

Austria 888.5 -1.4 643.2 -27.6 685.5 6.6 730.0 6.5 770.9 5.6 810.3 5.1 849.3 4.8

Belgium 1,159.3 4.4 781.9 -32.6 847.5 8.4 912.6 7.7 976.3 7.0 1,039.5 6.5 1,104.4 6.2

Germany 6,109.0 -1.6 4,508.1 -26.2 5,034.0 11.7 5,407.6 7.4 5,756.2 6.4 6,083.1 5.7 6,377.0 4.8

Denmark 270.5 -13.5 110.5 -59.1 114.7 3.8 123.5 7.7 129.6 4.9 135.1 4.3 139.8 3.5

Spain 2,609.7 -25.0 1,574.6 -39.7 1,722.4 9.4 1,828.2 6.1 1,932.3 5.7 2,042.6 5.7 2,163.6 5.9

Finland 168.9 -65.2 80.5 -52.4 84.4 4.9 92.1 9.1 99.6 8.1 107.2 7.6 115.0 7.3

France 5,110.7 3.9 3,864.4 -24.4 4,186.3 8.3 4,472.8 6.8 4,739.8 6.0 4,996.4 5.4 5,250.5 5.1

United Kindom 2,673.1 -8.1 1,870.5 -30.0 2,128.4 13.8 2,301.0 8.1 2,460.0 6.9 2,613.5 6.2 2,755.0 5.4

Greece 558.5 -12.1 341.4 -38.9 322.5 -5.5 332.3 3.0 349.9 5.3 368.9 5.4 383.0 3.8

Ireland 104.7 -44.6 21.7 -79.3 20.9 -3.7 21.5 3.1 22.8 6.1 24.1 5.5 25.2 4.8

Netherland 686.3 -16.3 399.4 -41.8 437.2 9.5 478.2 9.4 516.4 8.0 553.9 7.3 589.0 6.3

Portugal 353.9 14.1 1,008.8 185.0 905.4 -10.2 958.5 5.9 989.9 3.3 1,018.2 2.9 1,040.2 2.2

Sweden 536.3 33.1 192.7 -64.1 217.5 12.9 236.1 8.6 254.2 7.6 272.2 7.1 290.6 6.8

Other EU 3,296.2 18.4 1,942.9 -41.1 2,083.1 7.2 2,248.4 7.9 2,407.8 7.1 2,567.2 6.6 2,726.0 6.2

Bulgaria 260.8 34.2 58.4 -77.6 59.3 1.6 66.2 11.7 74.0 11.7 81.6 10.3 89.6 9.8

Czech Republic 486.6 15.7 318.4 -34.6 354.1 11.2 385.3 8.8 414.9 7.7 444.6 7.2 474.4 6.7

Hungary 413.2 11.7 161.3 -61.0 177.6 10.1 194.2 9.3 210.5 8.4 227.3 8.0 244.9 7.7

Poland 1,349.2 17.0 1,066.9 -20.9 1,119.9 5.0 1,192.8 6.5 1,257.7 5.4 1,319.2 4.9 1,379.0 4.5

Slovakia 232.6 18.0 144.9 -37.7 165.1 14.0 182.5 10.5 199.3 9.2 216.4 8.6 233.4 7.8

Romania 553.8 23.7 193.0 -65.2 207.1 7.3 227.4 9.8 251.4 10.6 278.1 10.6 304.7 9.6

Other Europe 2,706.1 13.9 2,022.8 -25.3 2,363.4 16.8 2,612.2 10.5 2,851.9 9.2 3,088.0 8.3 3,328.4 7.8

Belarus 15.2 36.8 9.8 -35.6 10.0 1.6 10.3 3.6 10.7 3.4 11.2 5.2 12.0 6.5

Croatia 293.4 17.5 197.5 -32.7 179.9 -8.9 182.5 1.5 192.7 5.6 200.1 3.9 208.4 4.1

Russia 517.8 25.8 151.6 -70.7 173.8 14.7 189.9 9.2 208.9 10.0 226.6 8.5 244.8 8.1

Ukraine 55.2 47.1 21.1 -61.7 20.2 -4.3 20.8 3.0 22.4 7.4 23.8 6.6 25.4 6.3

Turkey 835.4 7.2 654.3 -21.7 848.7 29.7 987.0 16.3 1,094.7 10.9 1,202.2 9.8 1,309.5 8.9

Norway 218.4 35.3 84.3 -61.4 88.8 5.3 93.3 5.1 98.4 5.5 102.8 4.4 106.8 3.9

Switzerland 770.7 6.3 904.2 17.3 1,042.0 15.2 1,128.4 8.3 1,224.1 8.5 1,321.3 7.9 1,421.5 7.6

North America 3,168.5 4.4 2,304.1 -27.3 2,611.7 13.4 2,764.0 5.8 2,940.0 6.4 3,116.4 6.0 3,292.8 5.7

Canada 133.0 -3.7 96.5 -27.4 104.5 8.3 107.3 2.7 113.9 6.2 120.5 5.8 127.2 5.6

United States 3,035.5 4.8 2,207.6 -27.3 2,507.2 13.6 2,656.7 6.0 2,826.1 6.4 2,995.9 6.0 3,165.6 5.7

105

2008 2009 2010 2011 2012 2013 2014


World 38,845.8 0.2 29,052.0 -25.2 32,127.2 10.6 35,268.9 9.8 36,331.8 6.6 38,564.5 6.1 40,816.3 5.8

Latin America 893.9 23.3 669.4 -25.1 831.3 24.2 917.4 10.4 992.8 8.2 1,066.3 7.4 1,133.6 6.3

Argentina 120.6 0.5 49.2 -59.2 63.8 29.7 70.4 10.3 74.6 6.0 78.7 5.5 82.4 4.7

Brazil 642.6 52.2 501.9 -21.9 630.8 25.7 700.0 11.0 758.6 8.4 815.1 7.4 866.2 6.3

Chile 39.2 -25.3 23.1 -40.9 28.2 21.7 29.2 3.8 30.0 2.7 30.8 2.4 31.2 1.6

Mexico 91.5 -29.9 95.2 4.1 108.5 13.9 117.8 8.6 129.6 10.0 141.7 9.4 153.8 8.5

Asia 1,798.5 2.7 1,684.4 -6.3 1,908.1 13.3 2,069.1 8.4 2,227.7 7.7 2,386.1 7.1 2,540.8 6.5

Australia 360.8 7.2 241.6 -33.0 275.9 14.2 294.1 6.6 309.6 5.3 324.8 4.9 340.0 4.7

China 222.9 -34.3 254.9 14.4 303.6 19.1 337.0 11.0 369.8 9.8 402.6 8.9 432.1 7.3

Hong Kong 93.2 -13.7 107.6 15.5 121.9 13.3 133.2 9.2 144.5 8.5 155.0 7.2 165.7 6.9

Indonesia 35.8 42.5 20.4 -42.8 25.0 22.1 27.7 11.1 30.1 8.4 32.4 7.9 34.7 7.0

India 232.1 42.0 165.4 -28.7 194.2 17.4 215.5 11.0 237.1 10.0 259.5 9.4 281.3 8.4

Japon 520.7 23.3 370.4 -28.9 382.8 3.4 398.7 4.1 425.5 6.7 452.5 6.4 480.5 6.2

South Korea 128.8 -4.1 158.0 22.7 182.3 15.3 195.8 7.4 210.7 7.6 225.7 7.1 241.1 6.8

Malaysia 49.4 19.7 128.9 161.1 158.4 22.9 175.6 10.9 190.4 8.4 205.6 8.0 220.2 7.1

Philippines 2.6 39.2 6.0 130.4 7.0 16.4 7.5 7.2 8.0 6.7 8.5 6.0 8.9 4.9

Singapore 95.0 -27.8 175.4 84.6 191.1 9.0 212.3 11.1 224.6 5.8 236.5 5.3 248.2 5.0

Thailand 26.2 41.1 14.9 -43.0 17.5 17.3 19.1 8.9 20.4 7.1 21.8 6.6 23.0 5.7

Taiwan 31.0 5.1 40.9 32.0 48.4 18.3 52.6 8.7 57.0 8.4 61.2 7.4 65.1 6.3

North Africa 476.1 16.2 589.8 23.9 641.0 8.7 686.3 7.1 739.7 7.8 792.9 7.2 847.4 6.9

Algeria 86.8 9.1 111.1 28.0 117.1 5.5 125.6 7.2 135.1 7.6 144.0 6.5 152.9 6.2

Egypt 100.6 10.0 89.1 -11.4 97.5 9.4 101.9 4.6 111.7 9.6 121.6 8.9 131.7 8.3

Libya 159.8 36.5 268.3 67.9 285.7 6.5 307.3 7.6 329.3 7.1 351.2 6.7 373.5 6.3

Tunisia 128.9 5.9 121.3 -6.0 140.7 16.1 151.5 7.7 163.6 8.0 176.1 7.6 189.3 7.5


Angola 17.0 273.7 63.4 274.2 55.2 -13.0 56.2 1.9 60.1 6.9 64.0 6.4 67.9 6.1

Nigeria 72.6 -6.8 77.5 6.8 88.3 14.0 94.3 6.8 100.9 7.0 107.5 6.5 114.4 6.4

South Africa 155.5 -19.8 117.0 -24.8 133.9 14.5 147.2 9.9 160.0 8.7 173.1 8.1 185.6 7.3

Middle east 688.7 29.3 452.0 -34.4 437.3 -3.3 452.1 3.4 483.1 6.9 515.2 6.6 547.9 6.3

Qatar 62.9 1.2 62.4 -0.8 63.8 2.2 67.4 5.6 72.7 7.9 78.1 7.4 83.5 7.0

Saudi Arabia 219.5 95.3 117.3 -46.5 120.8 2.9 126.0 4.3 133.3 5.8 140.4 5.3 147.5 5.1

UAE 406.3 13.4 272.3 -33.0 252.7 -7.2 258.7 2.4 277.1 7.1 296.7 7.1 316.9 6.8

106

Table 2.4.d Value of exports of other capital goods by destination country (values in millions of euro and % changes)

2008 2009 2010 2011 2012 2013 2014


World 8,526.0 -0.9 7,799.3 -8.5 8,871.5 13.7 9,725.1 9.6 10,196.7 7.8 10,918.9 7.1 11,664.9 6.8

EU 15 3,677.9 -1.6 3,173.3 -13.7 3,510.0 10.6 3,784.6 7.8 4,053.3 7.1 4,310.8 6.4 4,562.4 5.8

Austria 89.7 -7.5 90.7 1.1 98.9 9.1 106.9 8.0 114.4 7.1 121.9 6.6 129.6 6.3

Belgium 143.0 4.9 131.3 -8.2 144.8 10.3 156.8 8.3 168.6 7.5 180.1 6.8 192.0 6.6

Germany 897.9 3.1 739.2 -17.7 838.5 13.4 907.5 8.2 973.1 7.2 1,033.2 6.2 1,088.3 5.3

Denmark 34.2 -2.5 30.0 -12.2 31.5 5.1 34.8 10.2 37.0 6.6 39.1 5.4 40.9 4.6

Spain 582.8 -10.9 464.0 -20.4 514.6 10.9 547.0 6.3 579.3 5.9 613.7 5.9 651.5 6.2

Finland 30.7 -16.0 30.4 -0.9 32.2 6.0 35.4 9.9 38.5 8.6 41.4 7.6 44.4 7.3

France 854.9 5.0 778.4 -9.0 866.8 11.4 943.1 8.8 1,018.6 8.0 1,090.6 7.1 1,164.1 6.7

United Kindom 437.9 -2.7 403.3 -7.9 460.3 14.1 495.3 7.6 527.1 6.4 556.3 5.6 582.8 4.8

Greece 174.8 0.5 147.3 -15.7 140.1 -4.9 144.1 2.9 152.2 5.6 160.8 5.7 167.5 4.1

Ireland 15.5 -26.7 11.8 -23.6 11.6 -1.8 12.1 4.5 13.0 7.3 13.8 6.2 14.6 5.4

Netherland 236.4 -9.2 189.6 -19.8 212.4 12.0 232.1 9.3 250.7 8.0 268.3 7.0 284.7 6.1

Portugal 92.2 -3.4 92.2 0.0 84.0 -8.9 89.0 6.0 94.2 5.8 99.3 5.4 104.0 4.7

Sweden 87.9 -4.2 65.1 -25.9 74.3 14.1 80.5 8.3 86.6 7.6 92.3 6.5 98.0 6.2

Other EU 451.7 -4.6 412.2 -8.7 450.8 9.4 495.2 9.8 540.1 9.1 585.1 8.3 630.8 7.8

Bulgaria 32.3 13.4 26.3 -18.5 26.9 2.4 30.0 11.4 33.0 10.0 35.8 8.4 38.7 8.1

Czech Republic 64.2 -12.7 63.2 -1.5 71.0 12.3 77.5 9.1 83.9 8.4 91.0 8.3 98.1 7.9

Hungary 50.0 -16.7 49.2 -1.6 54.8 11.4 60.0 9.5 65.1 8.5 70.3 7.8 75.6 7.6

Poland 176.8 -0.1 179.3 1.4 193.8 8.1 213.3 10.0 232.5 9.0 251.6 8.2 271.4 7.9

Slovakia 44.3 -4.6 33.5 -24.3 38.4 14.7 42.2 9.9 45.9 8.9 49.5 7.8 53.0 7.1

Romania 84.1 -4.5 60.7 -27.8 65.9 8.5 72.2 9.5 79.7 10.4 86.9 9.1 94.0 8.1

Other Europe 657.0 -0.3 515.5 -21.5 598.5 16.1 654.7 9.4 711.6 8.7 766.8 7.8 822.6 7.3

Belarus 10.9 37.0 9.6 -11.6 9.9 2.5 10.3 4.2 10.8 4.5 11.4 6.3 12.3 7.7

Croatia 37.7 -5.1 31.3 -16.8 29.6 -5.4 31.0 4.7 33.9 9.1 36.3 7.2 39.0 7.5

Russia 204.7 -8.8 128.1 -37.4 148.0 15.5 160.3 8.3 174.6 8.9 187.2 7.2 200.0 6.9

Ukraine 44.4 17.5 25.2 -43.3 24.4 -3.0 25.3 3.8 27.4 8.2 29.6 7.8 31.8 7.5

Turkey 158.2 6.3 136.0 -14.0 176.5 29.8 202.5 14.7 222.3 9.8 242.4 9.0 262.2 8.2

Norway 38.4 0.6 35.3 -8.2 37.7 6.8 40.1 6.3 42.9 7.1 45.8 6.5 48.5 6.0

Switzerland 162.7 0.5 150.0 -7.8 172.4 14.9 185.2 7.4 199.7 7.8 214.1 7.2 228.8 6.9

North America 1,049.5 -16.6 965.1 -8.0 1,113.3 15.4 1,190.0 6.9 1,277.4 7.3 1,364.6 6.8 1,453.0 6.5

Canada 65.9 -24.0 67.3 2.2 75.0 11.4 78.5 4.6 84.4 7.6 90.3 7.0 96.4 6.8

United States 983.6 -16.1 897.8 -8.7 1,038.3 15.7 1,111.5 7.0 1,193.0 7.3 1,274.3 6.8 1,356.6 6.5

107

2008 2009 2010 2011 2012 2013 2014


World 8,526.0 -0.9 7,799.3 -8.5 8,871.5 13.7 9,725.1 9.6 10,196.7 7.8 10,918.9 7.1 11,664.9 6.8

Latin America 247.9 1.0 215.1 -13.2 266.4 23.8 295.3 10.8 323.9 9.7 352.2 8.7 379.5 7.8

Argentina 23.9 13.6 18.2 -23.5 23.6 29.5 26.0 10.1 27.7 6.7 29.4 6.1 31.0 5.3

Brazil 98.2 3.7 108.4 10.3 139.4 28.6 157.6 13.0 174.4 10.7 190.9 9.5 206.7 8.3

Chile 13.7 -29.4 17.7 29.2 22.0 24.5 24.0 8.9 26.0 8.2 27.9 7.3 29.7 6.5

Mexico 112.1 1.5 70.8 -36.9 81.4 15.0 87.7 7.7 95.8 9.2 104.0 8.6 112.1 7.8

Asia 932.0 3.4 874.4 -6.2 1,005.5 15.0 1,095.0 8.9 1,190.8 8.7 1,287.0 8.1 1,381.1 7.3

Australia 107.2 0.1 99.6 -7.1 115.0 15.5 123.4 7.3 131.6 6.6 139.5 6.1 147.7 5.8

China 200.5 -1.3 205.1 2.3 245.7 19.8 274.6 11.8 305.3 11.2 336.0 10.1 364.6 8.5

Hong Kong 103.6 0.0 95.1 -8.3 109.1 14.8 119.8 9.8 131.2 9.5 141.9 8.2 153.0 7.8

Indonesia 9.3 11.2 8.7 -5.8 11.0 25.7 12.4 13.2 13.7 9.9 14.9 9.1 16.1 8.2

India 102.1 24.6 81.2 -20.4 95.2 17.1 105.2 10.6 115.9 10.1 127.0 9.6 137.8 8.5

Japon 135.8 3.9 141.3 4.1 144.8 2.4 148.0 2.3 155.9 5.3 164.2 5.3 172.6 5.2

South Korea 109.2 7.3 79.0 -27.7 90.9 15.1 96.9 6.7 104.2 7.5 111.9 7.4 119.7 7.0

Malaysia 27.1 9.8 43.2 59.4 53.9 24.8 59.5 10.3 64.1 7.8 68.6 7.0 72.8 6.2

Philippines 14.0 8.3 13.2 -5.8 15.5 17.3 16.7 7.8 18.2 8.8 19.7 8.2 21.1 7.0

Singapore 58.6 -8.8 49.4 -15.7 55.0 11.5 62.5 13.6 68.0 8.7 73.9 8.7 80.0 8.3

Thailand 35.0 3.7 35.4 1.3 42.0 18.7 46.2 9.9 50.2 8.6 54.1 7.8 57.8 6.9

Taiwan 29.6 1.1 23.2 -21.6 27.4 18.0 29.8 8.8 32.5 9.0 35.3 8.6 37.9 7.5

North Africa 202.1 10.9 210.7 4.3 231.5 9.9 247.9 7.1 270.9 9.3 294.2 8.6 318.4 8.2

Algeria 41.3 60.5 37.0 -10.3 39.0 5.2 41.7 7.1 45.4 8.8 48.9 7.7 52.5 7.4

Egypt 48.8 -9.7 56.0 14.8 63.0 12.5 67.1 6.5 74.4 10.8 81.9 10.1 89.6 9.5

Libya 70.9 2.4 82.3 16.0 87.9 6.8 93.9 6.8 101.7 8.3 109.7 7.8 117.9 7.5

Tunisia 41.1 23.5 35.4 -13.9 41.6 17.4 45.2 8.7 49.4 9.2 53.7 8.8 58.4 8.7

Sub-saharan Africa 61.1 2.2 51.4 -15.9 58.8 14.4 64.0 8.8 69.5 8.6 75.0 7.9 80.6 7.5

Angola 0.9 -43.8 1.5 74.0 1.3 -13.2 1.3 2.0 1.4 7.9 1.5 7.6 1.7 7.3

Nigeria 6.1 17.6 6.2 1.4 7.2 15.2 7.7 7.1 8.3 7.7 8.9 7.7 9.6 7.6

South Africa 54.1 1.9 43.7 -19.2 50.3 15.1 55.0 9.4 59.8 8.6 64.6 8.1 69.3 7.2

Middle east 191.0 21.2 182.8 -4.3 179.4 -1.9 187.0 4.2 202.3 8.2 218.0 7.8 234.2 7.4

Qatar 18.1 11.1 14.8 -18.1 15.3 3.5 16.3 6.5 17.8 9.1 19.3 8.5 20.9 8.1

Saudi Arabia 69.1 17.8 54.0 -21.9 56.3 4.2 59.2 5.3 63.4 6.9 67.5 6.5 71.7 6.2

UAE 103.8 25.6 114.0 9.8 107.8 -5.5 111.5 3.4 121.1 8.7 131.2 8.3 141.6 8.0

108

Table 3 Value of exports of services by destination country (values in millions of euro and % changes)

2008 2009 2010 2011 2012 2013 2014


World 82,873.6 0.3 72,144.7 -12.9 74,138.8 2.8 77,064.2 3.9 82,947.3 7.6 89,759.5 8.2 96,093.8 7.1

EU 15 44,839.0 0.9 38,797.0 -13.5 39,552.0 1.9 40,680.5 2.9 43,392.4 6.7 46,645.3 7.5 49,582.4 6.3

Austria 2,047.0 -9.0 1,808.4 -11.7 1,862.0 3.0 1,872.2 0.5 1,947.2 4.0 2,033.7 4.4 2,107.2 3.6

Belgium 2,444.0 4.6 2,150.8 -12.0 2,204.4 2.5 2,286.9 3.7 2,456.9 7.4 2,653.4 8.0 2,835.0 6.8

Germany 11,899.0 6.9 10,452.5 -12.2 10,665.6 2.0 11,007.7 3.2 11,768.7 6.9 12,671.6 7.7 13,498.0 6.5

Denmark 492.0 -19.1 412.2 -16.2 421.7 2.3 436.1 3.4 466.0 6.9 500.4 7.4 530.6 6.0

Spain 3,495.0 -3.8 2,892.8 -17.2 2,832.3 -2.1 2,842.6 0.4 3,032.4 6.7 3,270.9 7.9 3,482.5 6.5

Finland 302.0 -40.9 246.5 -18.4 253.0 2.6 262.7 3.9 282.3 7.4 304.9 8.0 325.3 6.7

France 7,558.0 0.2 6,557.4 -13.2 6,785.0 3.5 6,984.1 2.9 7,416.9 6.2 7,958.6 7.3 8,462.4 6.3

United Kindom 9,507.0 -6.5 8,239.5 -13.3 8,397.3 1.9 8,655.8 3.1 9,224.5 6.6 9,920.4 7.5 10,531.2 6.2

Greece 699.0 17.5 596.5 -14.7 591.6 -0.8 599.9 1.4 646.1 7.7 699.1 8.2 748.4 7.1

Ireland 1,691.0 0.2 1,384.6 -18.1 1,373.4 -0.8 1,404.5 2.3 1,504.2 7.1 1,619.6 7.7 1,725.1 6.5

Netherland 3,700.0 24.6 3,202.0 -13.5 3,285.2 2.6 3,412.0 3.9 3,659.7 7.3 3,943.2 7.7 4,189.7 6.3

Portugal 319.0 -11.6 281.6 -11.7 284.2 1.0 292.1 2.8 311.3 6.5 334.1 7.3 356.1 6.6

Sweden 686.0 3.9 572.2 -16.6 596.3 4.2 623.9 4.6 676.2 8.4 735.4 8.8 790.9 7.5

Other EU 3,566.0 -7.3 3,006.1 -15.7 3,105.5 3.3 3,251.1 4.7 3,526.3 8.5 3,840.9 8.9 4,133.0 7.6

Bulgaria 183.0 22.0 157.5 -13.9 160.7 2.0 163.9 2.0 172.1 5.0 181.6 5.5 189.2 4.2

Czech Republic 613.0 -9.7 505.3 -17.6 526.0 4.1 554.9 5.5 604.7 9.0 662.1 9.5 715.2 8.0

Hungary 735.0 8.7 616.0 -16.2 628.5 2.0 654.9 4.2 710.8 8.5 774.6 9.0 833.1 7.6

Poland 947.0 -23.4 814.5 -14.0 848.2 4.1 884.3 4.3 954.4 7.9 1,036.0 8.5 1,111.3 7.3

Slovakia 338.0 -1.2 293.8 -13.1 305.9 4.1 322.2 5.3 351.5 9.1 381.4 8.5 408.9 7.2

Romania 750.0 -1.7 619.0 -17.5 636.2 2.8 670.9 5.5 732.8 9.2 805.2 9.9 875.3 8.7

Other Europe 6,736.0 -3.8 5,918.2 -12.1 6,148.7 3.9 6,534.5 6.3 7,214.5 10.4 8,005.2 11.0 8,762.7 9.5

Belarus 22.0 -4.3 18.6 -15.6 18.9 1.9 19.4 2.5 20.6 6.5 22.1 7.4 23.6 6.5

Croatia 274.0 -1.1 232.4 -15.2 232.4 0.0 240.9 3.7 259.5 7.7 281.3 8.4 302.1 7.4

Russia 946.0 43.1 785.0 -17.0 821.5 4.6 882.7 7.4 981.5 11.2 1,094.1 11.5 1,200.7 9.7

Ukraine 170.0 -6.6 142.1 -16.4 142.7 0.4 147.2 3.2 157.8 7.2 169.5 7.4 179.5 5.9

Turkey 443.0 -17.8 381.1 -14.0 402.3 5.6 429.3 6.7 479.0 11.6 539.7 12.7 586.2 8.6

Norway 475.0 17.3 397.4 -16.3 404.3 1.7 411.7 1.8 439.1 6.6 472.7 7.7 503.1 6.4

Switzerland 4,406.0 -10.4 3,961.6 -10.1 4,126.6 4.2 4,403.3 6.7 4,877.0 10.8 5,425.8 11.3 5,967.5 10.0

North America 7,358.0 -16.2 6,339.5 -13.8 6,514.0 2.8 6,695.4 2.8 7,233.5 8.0 7,881.9 9.0 8,490.6 7.7

Canada 907.0 -1.5 778.5 -14.2 800.3 2.8 821.3 2.6 871.2 6.1 941.6 8.1 1,007.4 7.0

United States 6,451.0 -17.9 5,561.0 -13.8 5,713.7 2.7 5,874.1 2.8 6,362.3 8.3 6,940.3 9.1 7,483.2 7.8

109

2008 2009 2010 2011 2012 2013 2014


World 82,873.6 0.3 72,144.7 -12.9 74,138.8 2.8 77,064.2 3.9 82,947.3 7.6 89,759.5 8.2 96,093.8 7.1

Latin America 1,186.0 11.4 1,019.1 -14.1 1,058.7 3.9 1,106.2 4.5 1,198.1 8.3 1,305.7 9.0 1,407.1 7.8

Argentina 255.0 1.2 216.3 -15.2 221.3 2.3 230.3 4.1 249.7 8.4 271.5 8.7 291.4 7.3

Brazil 677.0 21.5 582.1 -14.0 611.5 5.1 642.1 5.0 697.7 8.6 763.5 9.4 825.6 8.1

Chile 68.0 -20.9 61.9 -8.9 63.9 3.1 66.6 4.3 72.0 8.1 78.2 8.6 84.0 7.4

Mexico 186.0 9.4 158.8 -14.6 162.0 2.0 167.2 3.2 178.7 6.9 192.5 7.7 206.1 7.1

Asia 3,329.0 -7.6 2,940.4 -11.7 3,072.2 4.5 3,243.0 5.6 3,540.2 9.2 3,882.8 9.7 4,210.4 8.4

Australia 901.0 -2.4 758.6 -15.8 785.7 3.6 819.0 4.2 883.7 7.9 958.9 8.5 1,028.5 7.3

China 457.0 8.6 428.4 -6.3 468.0 9.2 517.2 10.5 589.6 14.0 674.6 14.4 760.8 12.8

Hong Kong 271.0 34.8 244.9 -9.6 257.3 5.0 271.4 5.5 294.3 8.4 320.4 8.9 345.0 7.7

Indonesia 28.0 -36.4 23.7 -15.2 24.9 5.0 26.2 4.9 28.2 7.6 30.5 8.2 32.6 7.1

India 317.0 -19.5 282.4 -10.9 295.5 4.6 308.9 4.5 334.2 8.2 363.6 8.8 391.0 7.5

Japon 846.0 -13.8 759.0 -10.3 776.8 2.3 812.6 4.6 878.7 8.1 952.8 8.4 1,022.1 7.3

South Korea 160.0 -25.6 134.6 -15.9 141.7 5.3 148.9 5.0 161.9 8.8 177.4 9.6 192.0 8.2

Malaysia 29.0 -61.8 27.0 -7.0 28.6 6.1 30.1 5.1 33.2 10.5 36.7 10.4 40.0 8.9

Philippines 23.0 -8.0 19.9 -13.7 20.7 4.4 21.8 5.1 23.7 8.9 25.9 9.1 28.0 7.9

Singapore 128.0 -4.5 112.8 -11.9 117.1 3.9 123.0 5.0 133.8 8.8 146.2 9.3 158.2 8.2

Thailand 66.0 -17.5 56.3 -14.7 58.2 3.3 60.8 4.6 66.0 8.5 72.1 9.2 77.9 8.0

Taiwan 103.0 -4.6 92.8 -9.9 97.7 5.3 103.1 5.5 112.9 9.5 123.7 9.5 134.3 8.6

North Africa 479.1 4.2 428.5 -10.6 445.5 4.0 468.2 5.1 508.9 8.7 555.8 9.2 598.9 7.8

Algeria 97.1 3.5 86.5 -10.8 90.4 4.5 95.6 5.7 104.2 9.1 113.7 9.1 122.6 7.8

Egypt 218.0 6.9 197.5 -9.4 203.6 3.1 213.0 4.6 230.7 8.3 251.3 8.9 270.7 7.7

Libya 0.1 44.3 0.1 -9.2 0.1 2.4 0.1 3.6 0.1 7.6 0.1 8.2 0.1 7.1

Tunisia 163.9 1.1 144.4 -11.9 151.4 4.8 159.5 5.3 173.9 9.1 190.7 9.7 205.5 7.7


Angola 0.1 -19.8 0.1 -12.1 0.1 -0.4 0.1 1.4 0.1 6.3 0.1 7.5 0.1 6.4

Nigeria 249.0 -12.0 224.6 -9.8 235.5 4.8 248.1 5.3 269.7 8.7 294.8 9.3 318.7 8.1

South Africa 151.0 -9.6 127.4 -15.6 131.2 3.0 136.9 4.3 147.9 8.1 161.0 8.8 173.3 7.6

Middle east 7.0 -38.1 5.9 -15.7 5.9 0.0 6.1 3.4 6.6 8.2 7.1 7.6 7.5 5.6

Qatar 1.1 -27.9 0.9 -15.8 0.9 2.2 0.9 2.5 1.0 6.6 1.1 7.5 1.1 5.9

Saudi Arabia 2.9 -55.7 2.5 -15.0 2.5 3.1 2.6 2.8 2.8 6.8 3.0 7.0 3.2 6.3

UAE 3.0 -10.0 2.5 -16.1 2.5 0.9 2.6 3.2 2.8 7.1 3.0 7.8 3.2 6.6

DISCLAIMER

This report by SACE is provided for informative purposes only. Under no circumstances should it be used or regarded as an offer of sale or proposal to purchase the insurance or financial products described.

The information in this report was obtained from sources that are considered reliable or has been processed on the basis of assumptions that could prove incorrect.

SACE can therefore give no guarantee as to the accuracy or completeness of this information.

This report was published using information available at 1 December 2010.

For further details on these forecasts, please contact [email protected]

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