(Finance) – The Romania is the country with the highest trade with Veneto (2.1 billion euros of exports and approximately 2 billion euros of imports) and with the Trentino Alto Adige (251 million euros of exports and 198 million euros of imports). There metalworking is the main export sector in Veneto and Trentino Alto Adige towards the 3 countries. Between 2022 and 2021, exports from the manufacturing sectors of Veneto and Tentino Alto Adige to the three countries recorded a growth of 15.3%.exceeding 2019 pre-pandemic levels by 28.9%.
This is what emerged at the road show in Padua Intesa Sanpaolo dedicated to the internationalization of SMEs. The banking institution presented local businesses with development and loyalty opportunities on the markets of Romania, Hungary and Slovakia. The objective is to further enhance the cross-border business opportunities of mid-corporates operating in the 12 countries in which the Group’s commercial banks are present, from Eastern Europe to North Africa.
The program, which provides for an increase in financing lines and in the offer of products and services dedicated to internationalisationinvolves Intesa Sanpaolo Bank in Romania, CIB Bank in Hungary and VUB Banka in Slovakia.
During the meeting, the opportunities offered by the Romanian, Hungarian and Slovakian markets, positive growth forecasts, progressive increase in the ability to attract foreign investments, benefits deriving from re-shoring and near-shoring, allocations of European funds, government privatization programs, prospects for the modernization of infrastructure and transport networks, development of the industrial fabric and availability of natural and agricultural resources. These are the potentials of the European geographies affected by the launch of this first initiative which also provides the possibility for companies to deal individually with the team of foreign banks involved at any time.
According to the Studies and Research Department of Intesa Sanpaolo, in 2022 the trade of the Veneto economy with Romania was high: more than 2.1 billion euros of exports at current prices and approximately 2 billion of imports with a positive trade balance of 115 million euros. Trade with Hungary, however, recorded a negative trade balance (-431 million euros), with 1.4 billion euros of imports compared to 1 billion euros of exports. Trade relations with Slovakia, albeit more limited, have led to a positive trade balance (95 million euros), with 750 million euros of exports and 654 million euros of imports. The interchange with Trentino Alto Adige there was a total of 567 million euros of exports and 344 million euros of imports in the 3 countries, with a positive balance of 223 million euros; Romania is the country with the most significant flows (251 million euros of exports and 198 million euros of imports).
From the sectoral examination of exports from Veneto and Trentino Alto Adige to the 3 countries the metalworking sectors are seen as prevalent. In particular, exports to Romania which represent 24.5% of the national total mainly concern the Automotive (14%), Electrical engineering and household appliances (12%), Mechanical (10%), Metal Product (10%), Electronics (8%), Textiles (6%) and Food (6%). Exports to Hungary (19.2% of the total Italy) concern primarily automotive (20%), electrical engineering and household appliances (11%), mechanics (10%), metal products (9% ), Electronics (7%), Textiles (7%) and Food (6%). Exports to Slovakia (22.3% of the total Italy) mainly concern Automotive (17%), Metal Products (13%), Mechanics (10%), Electrical engineering and household appliances (10%) , Food (8%) and Metallurgy (7%). The prevailing import sectors instead highlight the dynamics of delocalisation and outsourcing of some Venetian production specializations in Eastern Europe: in Romania the leather supply chain prevails (22% of the total) and electrical engineering and household appliances (20%), in Hungary the imports are concentrated in the Automotive sector (41%) and likewise in Slovakia (32%); in the latter, Mechanics is also relevant (11%).
Between 2022 and 2021, exports from the manufacturing sectors of Veneto and Trentino Alto Adige at current prices to the three countries recorded a growth of 15.3%, exceeding the pre-pandemic levels of 2019 by 28.9%. general context of slowdown in international trade in the 1st half of 2023, exports from Veneto and TAA to these areas fell slightly by -2.3% compared to the 1st half of 2022: Hungary recorded the greatest decrease (-5, 4%) followed by Romania (-3.4%); exports instead recorded an increase of 5.7% towards Slovakia. Greater liveliness was instead found in imports which closed the semester in positive territory (+4.9%), with a slight increase in flows from Romania (+0.2%), and more decisive variations from Hungary (+12 .3%) and Slovakia (+7.4%).
Giuseppe Ferraro, ISBD Head of Corporate & SME said: “The success of this initiative, with results already exceeding expectations just a few months after its launch last April, strengthens the international presence of the Intesa Sanpaolo Group, in particular in the geographies of the scope of the International Subsidiary Banks Division, where the Group boasts a growing leadership position on the market. The integration model between the International Subsidiary Banks and Banca dei Territori Divisions allows the Group to be positioned as a reference partner for Italian and foreign client companies that want to accelerate the internationalization process, enhancing its positioning within of rapidly evolving Value Chains”.