Tuscany experiences a two-fold increase in exports to Russia

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June 21st, 2017 – Fort Russ News –
– eurasiatx.com – – translated by Frederick Assar –

Florence leads the ranking of Tuscan exports to Moscow with 64.7 million euros (+ 23.9%)

Russia establishes itself as a strategic market for Tuscan exports. In fact, in the first quarter of this year, the Italian region recorded a two-fold increase in exports to Russia to almost 110 million euros (+ 21.4% over the same period of 2016).

This is what emerged today at the opening of the third Italian economic seminar in Florence, organised by the Eurasia Association, Roscongress, International Economic Forum of St. Petersburg, Tuscany Region, Honorary Consulate of the Russian Federation in Florence and West East World in collaboration With Intesa Sanpaolo, Banca CR Firenze and Banca Intesa Russia.

The leading stage in Tuscan exports to Russia is taken by the manufacturing sector with a total of 23.8%, driven by the rise in textiles (apparel and accessories), which alone amounts to 37.2 million euros (+13.7), closely followed by machinery at 36 million euros, up by about 41% over the same period of the previous year.

According to the latest data developed by “Conoscere Eurasia”, among the emerging sectors in the Russian market in the first quarter are also the pharmaceutical and food sector, which, after the losses of previous years, again attracted demand, recording an increase respectively of 78% and 85%.

“Russia reaffirms itself as a strategic market for Italian and Tuscan companies,” said Antonio Fallico, president of Banca Intesa Russia and the Eurasia Association. Additionally, the resumption of exports at national level marks a change in pace and the beginning of a renewed confidence in this country, which despite sanctions has not only led the GDP to positive ground but also accelerated its process of productive modernization. In Russia, “made in Italy” has not decreased; indeed it is finding new development opportunities thanks to ‘made with’. In this climate of general resumption we fear contradictory rumours from the US about possible new sanctions to Russia. “

In the first quarter of 2017, Florence was the leader of Tuscan exports to Moscow with 64.7 million euros (+ 23.9%), followed by Prato (9.2 million euros, +62, 3%) and Lucca (8.8 million euros; + 7.3%), while Grosseto is at the last place with 419 thousand euros.

Lastly, tourism is faring well in the regional capital. In fact, according to the analysis of the Global Blue Internet portal for the first three months of this year, Florence recorded + 60% arrivals from Russia

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