The damage to Italian foreign trade accumulated between November 2023 and January 2024 due to the crisis in the Red Sea amounts to 8.8 billion, 95 million per day.
This was revealed by Confartigianato which calculated the impact of the decline in merchant ship traffic between the Indian Ocean and the Red Sea on Italy's trade flows with Asia, Oceania, the countries of the Persian Gulf and the South-East of Africa.
In particular, in the last 3 months, Italy has lost 3.3 billion, equal to 35 million per day, due to failed or delayed exports and 5.5 billion (60 million per day) due to the lack of supply of manufacturing products.
Confartigianato also calculated the impact on the exports of the Italian regions: "The highest value of products transported by sea across the Red Sea is that of Lombardy, equal to 12.9 billion, followed by Emilia-Romagna with 9.4 billion, Veneto with 5.7 billion, Tuscany with 4.7 billion, Piedmont with 4.2 billion and Friuli-Venezia Giulia with 2 billion".
"The effects of the Red Sea crisis, added to the ongoing monetary tightening and the reactivation of European budget rules, could have serious consequences on Italian economic growth", warns the president of Confartigianato, MArco Granelli: "It is essential to implement all measures, starting with the implementation of the Pnrr, to fuel business confidence and propensity to invest and avoid the risk of a slowdown in the expansionary employment cycle".
Reproduction reserved © Copyright ANSA