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Beneath the surface: investigating industry heterogeneity in Italy’s goods export market share performance

Author

Listed:
  • Stefano Federico

    (Banca d’Italia)

  • Claire Giordano

    (Banca d’Italia)

Abstract

Exploiting several highly granular datasets, we compute Italy's goods export market shares at a 5-digit sector of economic activity level over 2010–19 to identify the "market-share gainer" and "loser" sectors in world markets over the past decade, and "stable" sectors, identified residually. We next assess the main structural characteristics, both domestic and external, of these categories of sectors. Finally, we analyse Italy's 5-digit goods export developments in 2020 in order to verify the performance of the various sector groupings during the Covid-19 pandemic. Italy's gainers are mainly agri-food products, the fashion industry and pharmaceuticals, whereas losers are more heterogeneous across macro-sectors; around 40 per cent of industries are classified as stable, consistently with the resilience of Italy's aggregate world market share. Gainers are characterized by significantly lower competition from both China and Central-Eastern Europe and by higher quality positioning than losers; they are also more productive, more intensely involved in GVCs and display a higher share of young and of female workers. On average, market-share gainers fared relatively better than the other industries in 2020, albeit only slightly.

Suggested Citation

  • Stefano Federico & Claire Giordano, 2021. "Beneath the surface: investigating industry heterogeneity in Italy’s goods export market share performance," Questioni di Economia e Finanza (Occasional Papers) 641, Bank of Italy, Economic Research and International Relations Area.
  • Handle: RePEc:bdi:opques:qef_641_21
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    File URL: https://www.bancaditalia.it/pubblicazioni/qef/2021-0641/QEF_641_21.pdf
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    References listed on IDEAS

    as
    1. David H. Autor & David Dorn & Gordon H. Hanson, 2016. "The China Shock: Learning from Labor-Market Adjustment to Large Changes in Trade," Annual Review of Economics, Annual Reviews, vol. 8(1), pages 205-240, October.
    2. Gloria Allione & Alberto Felettigh, 2021. "External demand and export performance: regression residuals during the Covid-19 pandemic," Questioni di Economia e Finanza (Occasional Papers) 643, Bank of Italy, Economic Research and International Relations Area.
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    Cited by:

    1. Gloria Allione & Claire Giordano, 2023. "Are the Happy Few still happy? Exporter heterogeneity during the COVID-19 pandemic in Italy," Questioni di Economia e Finanza (Occasional Papers) 816, Bank of Italy, Economic Research and International Relations Area.
    2. Gloria Allione & Alberto Felettigh, 2021. "External demand and export performance: regression residuals during the Covid-19 pandemic," Questioni di Economia e Finanza (Occasional Papers) 643, Bank of Italy, Economic Research and International Relations Area.

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    More about this item

    Keywords

    Export market shares; world goods trade; structural characteristics; Covid-19 pandemic;
    All these keywords.

    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General

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